Workers' remittances sent home by overseas Pakistanis remained strong at nearly $3 billion in August 2024, marking a significant 40.5% increase compared to the same month last year. T his robust growth is attributed to the prolonged stability of the rupee against the dollar and a surge in overseas employment, particularly in the Middle East, which allowed more expatriates to support their famil
Finance Minister Muhammad Aurangzeb on Monday stressed the importance of restoring public trust in the government’s economic policies, saying that the private sector must take the lead in driving the country forward. His remarks came during the Senate session where he addressed economic challenges. "We cannot move forward until public confidence is restored. The private sector must step up a
The International Monetary Fund has appointed Mahir Binici as the new country head for Pakistan, while the government intensifies efforts to secure the $7 billion loan approval by the last week of September. All this is taking place amid growing suspicions about the motives of the global lender. The IMF's action to set wrong assumptions of the current account deficit during the last two prog
Despite initially beginning the week with a bullish tone, the equities came under late selling pressure on Monday, forcing the KSE 100 index to close in the red amid IMF uncertainty and mounting political tensions. Ahsan Mehanti of Arif Habib Corporation said stocks closed lower amid a slump in global equities and concerns about political noise. He said uncertainty over IMF approvals on the
IS Pakistan’s new bailout deal with the IMF in trouble? Is the Fund’s Executive Board deliberately stalling the approval of the $7bn Extended Fund Facility agreed between Islamabad and the IMF mission on July 15? Are there any geopolitical factors at play? These are the thoughts that come to mind after Deputy Prime Minister Ishaq Dar’s fresh critique of the IMF amid delays in disbursement of th