Political economist Dr Pervez Tahir on Wednesday called for revival of trade with India to decrease people’s woes. He said the federal cabinet’s size should be cut down in conformity with the requirement of the 18th Amendment. Since the federal development spending is financed by borrowing, it ought to be reduced to zero until the budget is balanced, he said, adding that defence expenditure
While expressing concerns over the state of the country’s economy, the business community has demanded the government devise a long-term strategy to prevent such a crisis in the future. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh has slammed the PMLN-led coalition government for taking such anti-industry measures without any consultation with th
Presenting the IMF-dictated Finance (Supplementary) Bill, 2023, generally known as the mini-budget, in both houses of the parliament, Finance Minister Ishaq Dar on Wednesday called for setting up a national commission to investigate the factors behind the “economic decline” in the country over the past four years, and reiterated his offer to political parties to prepare a national economic agenda
Already hard-pressed amid surging prices of almost all essentials, the government on Wednesday added fuel to consumers’ misery by increasing the General Sales Tax (GST) to 18 per cent from 17pc along with federal excise duty. However, the manufacturers have yet to give any respite in prices despite over Rs11 recovery in the rupee’s value, which makes the import cost of raw materials and finishe
Oil prices rose on Thursday as hopes of a robust fuel demand recovery in top oil consumer China offset losses arising from strength in the greenback and a large build in US crude inventory. Brent crude futures rose 42 cents, or 0.5 per cent, to $85.80 per barrel by 0352 GMT, while US West Texas Intermediate (WTI) crude futures gained 48 cents, or 0.6pc to $79.07 a barrel. The International E