Over the past few years, almost everyone in Pakistan has personally experienced their incomes go down with the erosion of the rupee. It’s a tale all too familiar. Even those lucky enough to get regularly healthy increments now struggle to catch up with the levels of inflation. As a result, most people have been forced to live hand to mouth and cut any ‘frivolous’ expenditures. Somehow, our stat
In its meeting held on 6th June 2023, the National Economic Council (NEC)approved the national development outlay for 2023-24 at Rs2.71 trillion, including the federal Public Sector Development Programme at Rs1.15tr and provincial Annual Development Programme at Rs1.56tr. In 2022-23, the NEC approved a national development outlay of Rs2.26tr, including provincial ADPs of Rs1.46tr and federal PS
The federal government has cleared for implementation 13 old renewable energy (RE) projects of about 700 megawatts — commonly called Category-III projects — and has referred the matter to the Council of Common Interests (CCI) for formal approval as bidding for a lot of 600MW solar project at Muzaffargarh received poor investor response. Informed sources said a special cabinet committee led by
The shares market observed another dull session on Thursday as a stern statement by the International Monetary Fund (IMF) on the 2023-24 budget kept sentiments down. Topline Securities noted the global lender expressed concerns about the amnesty scheme announced in the federal budget on the pretext that it ran against the programme’s conditions. In addition, the IMF statement also referred to
THE IMF’s criticism of Pakistan’s reckless budget for fiscal year 2023-24 carries profound risks for the economy. The June 30 deadline for meeting the lender’s conditions to unlock funding will likely be missed unless the government agrees to review the document and remedy its weaknesses. It would not be surprising if it does so, considering that it had to hurriedly, but comprehensively, revise