The National Economic Council (NEC) on Monday formally decided to bar financing to provincial development projects from federal resources from coming fiscal year, except for merged districts of Khyber Pakhtunkhwa and 20 least developed districts (LDDs) of other provinces. A meeting of the NEC, presided over by caretaker Prime Minister Anwaarul Haq Kakar, was attended by the chief ministers of S
Pakistan has continued to witness boom-and-bust cycles through its economic journey. Economists have written at length about twin deficits, structural anomalies in the country’s economic engine which continue to fuel import-based consumption. Remittances, foreign direct investment (FDI), exports and foreign currency debt and deposits are key avenues to cover imports and debt obligations. Arguab
The China-Pakistan Economic Corridor (CPEC) holds the potential to assist Pakistan in revitalising its economy and setting the stage for sustainable development. Following the successful completion of the first phase, CPEC has now entered its second phase. The long-term document of CPEC outlines industrialisation and agricultural cooperation as driving forces during this stage – fortunately, th
The foreign ministers of Iran and Pakistan will hold crucial talks here on Monday (today) as part of efforts to repair their ties damaged by tit-for-tat missile strikes a fortnight ago. Iranian Foreign Minister Amirabdollahian arrived in Islamabad late on Sunday. As the two countries were reeling from the missile exchanges, killing of 9 Pakistani labourers in Sistan-Blauchistan province of Iran
The rupee’s depreciation is unlikely during the remaining period of the current fiscal year as inflation has left no space for its decline, experts said on Saturday. The exchange rate looks stable since the rupee is valued below Rs280 against the US dollar, though some analysts believe it might end up at Rs310 with the completion of current fiscal year. “The fiscal year started with USD/PKR