Pakistan’s gross domestic product (GDP) had contracted by 0.17 per cent rather than growing by 0.29pc during FY23 under the PDM-led coalition government while GDP growth in FY22 under the PTI regime was slightly higher than previously estimated. This was officially confirmed on Tuesday by the National Accounts Committee (NAC) which also approved the first quarter (July-September 2023-24) GDP gr
The World Bank on Tuesday cautioned Pakistan against short-term measures like domestic debt restructuring and attracting one-time investment through a new civil-military initiative, without addressing the country’s ‘big picture issues’ through reforms aimed at improving larger business climate, taxation and human capital. The “creation of a new institution is no quick fix” to bring investment w
Trading began on Monday on a positive note with the benchmark index closing just shy of the psychological milestone of 60,000 points. Arif Habib Corporation analyst Ahsan Mehanti said stocks traded at another all-time high amid institutional interest in buying companies across the board. Investors reacted positively to strong economic data on the falling current account deficit and surging fore
Distributive politics is at the core of Pakistan’s electoral system, where the ‘electability’ of an individual politician is believed to largely depend on their ability to secure resources to fund ‘development schemes’ or public services in their respective constituencies once the voters return them to the assemblies. No wonder the ruling parties allocate state resources, especially the annual
Pakistan and the United Arab Emirates on Monday signed memorandums of understanding (MoU) pertaining to investment cooperation that will unlock “multi-billion dollars” in funding from the Mideast state. The development came in a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi during the former’s week-long trip to the