The nation’s state-run commercial entities incurred losses amounting to a staggering Rs1.395 trillion over the fiscal years 2021 and 2022, the latest consolidated report by the Ministry of Finance has revealed. This figure is more than twice the size of the Public Sector Development Programme (PSDP), bringing to light significant concerns regarding financial management and operational efficienc
The Board of Privatisation Commission will take up the Scheme of Arrangement and the transaction structure of Pakistan International Airlines Corporation Ltd (PIACL) on Tuesday. The transaction structure has been proposed by the financial advisers for the divestment of the national flag carrier. The financial advisors presented a proposal for the legal segregation of the PIACL aimed at the sepa
The World Economic Forum (WEF) launched on Monday the Global Cooperation Barometer to measure the state of global cooperation. The barometer indicates that global cooperation was resilient in multiple dimensions from 2012 until 2020 but overall cooperation declined by 2 per cent from 2020 to 2022. The Global Cooperation Barometer, developed in collaboration with McKinsey and Company, uses 42 i
The services sector exports in November contracted year-on-year for the first time during the current fiscal year, according to data compiled by the Pakistan Bureau of Statistics. The services exports fell to $631.93 million in November marking a 15.85 per cent decline from the $750.95m in the corresponding month last year. Contrary to this, merchandise exports reversed the trend and increas
The caretaker government plans to get going Pakistan Development Fund Ltd (PDFL) — a $1.5 billion state-owned shell entity — to provide an alternative financing source to public sector development projects through divestment of government stakes in public sector and public-private partnerships (PPP). The entity was created in June 2014 with inflows of $1.5bn financial support from Saudi Arabia