Despite higher taxation on almost all sectors of the economy, the government has rigorously been borrowing for budgetary support since the outset of the current fiscal year. The data released by the State Bank of Pakistan (SBP) on Monday showed that the government borrowed Rs1,600 billion in the first 70 days (July 1 to Sept 8) of this fiscal year against Rs261bn in the same period last year.
Caretaker Prime Minister Anwaarul Haq Kakar has urged British businesspersons to take benefit of the improved economy and the government’s investment-friendly policies and invest in Pakistan. Mr Kakar, who is on a trip to London, met prominent British-Pakistani investors on Monday and invited them to invest in the Special Economic Zones, according to a press release issued by the PM office.
Without disclosing the total outstanding electricity bills against the public and private sector, caretaker Minister for Power Muhammad Ali has said the electricity costs will be reduced through lengthening the repayment tenor of debt and improving energy mix to renewables and Thar coal. Speaking to reporters on Monday, the minister said the government was making up mind to give out all the 10
Market sentiments remained predominantly positive in the outgoing week. Arif Habib Ltd said the mood was bolstered by significant developments on economic and political fronts. The Election Commission of Pakistan announced the general election would be held in the last week of January 2024. The announcement helped address uncertainty in the market. Moreover, the cut-off yield in the latest a
MONETARY POLICY in Pakistan follows an eclectic approach that often shifts between prioritising price stability and economic growth. Currently, we are trapped in a situation where we have neither achieved low and stable inflation nor desirable economic growth. A transparent monetary policy is one in which the central bank clearly communicates its commitment to a goal — in Pakistan’s case achiev