The World Bank has approved nearly $150 million in loans for two projects, including $72 million in additional funding for a scheme plagued by delays and loan cancellations. The Board of Directors of the World Bank approved the Digital Economy Enhancement Project costing $78 million amid a ban on the use of X platform in Pakistan. The Washington-based lender also approved additional financing o
As we finalise the details of the next International Monetary Fund (IMF) facility to secure economic stability, pertinent questions and concerns arise. IMF support is vital for the country to address internal challenges and chart its path to prosperity. Amidst this, various discussions are emerging, stirring political scrutiny. A significant issue at hand is ensuring the federal government’s fi
KARACHI: China – the second-largest global economy – has officially launched “new quality productive forces” early this month to pursue high-quality development, aimed at further accelerating its economic output through deploying latest innovations and technologies where quality will take centre stage in all fields of life. The tech advancement is expected to help introduce new industries and f
Economic liberalisation, no intervention, no subsidies and least regulation are the key to the success of countries that emerged as global export leaders after the 1980s. Unfortunately, Pakistan didn’t accept it wholeheartedly. For the past 34 years, I have observed a pervasive fixed mindset of the bureaucracy, not ready to learn the good for change. They are indulged in the romance of maintain
The new government’s steadfast commitment to economic revival and proactive approach to building upon the groundwork laid by the caretaker administration are encouraging signs. The government’s swift action in initiating negotiations with the IMF for another loan programme is necessary to address the substantial external financial deficit and prevent a repeat of the past six years’ default scen