Pakistan’s central bank has projected that the country’s economic growth would remain moderate, sticking to its original forecast of 2-3% growth in the ongoing fiscal year 2023-24. It says that achieving a higher growth trajectory over the medium to long run depends on reforms addressing lingering structural issues. In its report on the ‘State of Pakistan’s Economy for the First Half of Fiscal
The Pakistani rupee on Tuesday remained largely stable, ticking up Rs0.02 to close at Rs278.18 against the US dollar in the inter-bank market amid commencement of talks with the International Monetary Fund (IMF) for a potential new loan programme of $8 billion. According to the State Bank of Pakistan’s (SBP) data, the local currency had closed at Rs278.20 against the greenback on Monday. The
US President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. China immediately vowed retaliation. Its commerce ministry said Beijing was opposed to the US ta
An official from the Federal Ombudsman Secretariat for Protection Against Harassment (FOSPAH), on Tuesday, stressed the critical necessity of raising awareness regarding the effective implementation of the Property Rights Act of 2020. The official underscored the multitude of challenges encountered by women, particularly concerning property rights post-marriage. The senior official underscored
Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Tuesday directed the Power Division and the provincial government of Balochistan to devise a comprehensive strategy for shifting agricultural tube wells to solar energy, which would ensure cost-effective electricity supply to farmers in the province. Chairing a high-level meeting, the minister discussed matters related to