The federal government borrowed more than Rs4 trillion from commercial banks in seven months and nine days of this fiscal year (between July 1, 2023, and February 9, 2024), according to the State Bank of Pakistan (SBP). After some adjustments (mainly retirement of State Bank of Pakistan debts and net negative borrowings by provinces), the government sector’s borrowings for budgetary support totall
People were determined to vote in the 2024 elections. However, despite the increase in absolute terms, voter turnout dipped in terms of percentage. Harsh winter in parts of the country, fears of violence and terrorism in KP and Balochistan, as well as uncertainty about the conduct of elections, may have also adversely affected the turnout, states an analysis by the Free & Fair Election Network (Fa
As the prime minister designate Shahbaz Sharif prepares to assume office in the upcoming National Assembly session this week, the business community of Pakistan is apprehensive about the potential challenges that lie ahead. Their support for the idea of a national unity government, which includes the Sunni Ittehad Council adopted by the PTI-backed winning independents, did not resonate with the
The International Monetary Fund (IMF) has stated that it is looking forward to engaging with the new government on policies to ensure “macroeconomic stability and prosperity for all of Pakistan’s citizens”. The development comes a day after PTI Senator Ali Zafar told reporters that a letter would be sent from incarcerated party founder Imran Khan to the international lender urging it to call fo
ISLAMABAD: Sazgar Engineering, one of Pakistan’s leading car manufacturers, has partnered with Chinese car manufacturer Great Wall Motors (GWM) to introduce their latest innovation in the automotive industry, the electric vehicle ORA 3. “With cars being the primary mode of transportation in Pakistan and gasoline prices continuously rising due to global oil price hikes, there’s a clear and urgent n