The unending cost escalation — 405 per cent (from Rs16.92 billion to Rs85.57bn) as per the unapproved third revised project cost (PC-I), as well as the prolonged delay in the Nai Gaj dam project’s completion, perhaps merit prime ministerial-level intervention to fix responsibility for why a project of vital importance remains incomplete even after 13 years. Nai Gaj dam is primarily a rainwater
The 10th National Finance Commission (NFC) expired on July 21, and the NFC secretariat in the Finance Ministry is in the process of forming a new commission. There is no notification yet of the representatives of the four provinces for the 11th NFC. The 7th NFC Award has now been in effect for nearly 15 years — far beyond its five-year tenure. The president of Pakistan has extended the award ev
The Pakistani stock market showed impressive growth this week, with the KSE-100 index rising by 3.08 per cent on a week-on-week basis. This upward trend was largely driven by strong buying activity from local mutual funds, as investors turned to equities, which continue to outperform other asset classes. The rally in the stock market coincided with a series of significant developments in the ec
The crackdown launched late last month against the smuggling of hard currencies out of Pakistan has checked speculative demand for dollars. However, the dollar shortage in the market appears to be driven primarily by imports and debt repayments, as evidenced by the decline in foreign exchange reserves and a significant rise in the merchandise import bill. Pakistan’s total foreign exchange reser
The unending cost escalation — 405 per cent (from Rs16.92 billion to Rs85.57bn) as per the unapproved third revised project cost (PC-I), as well as the prolonged delay in the Nai Gaj dam project’s completion, perhaps merit prime ministerial-level intervention to fix responsibility for why a project of vital importance remains incomplete even after 13 years. Nai Gaj dam is primarily a rainwater