THE bloodbath at the stock market on Thursday is just another grim reminder of all that is wrong with the economy. The fundamentals continue to worsen — faster than before — as the country hurtles towards yet another financial disaster amid political uncertainty. The fresh losses suffered by the stock market over the last few days are just one symptom of declining economic conditions exacerbate
WHILE the debate on whether or not inflation and foreign currency and debt pressure will continue, and what effect they will have on aggregates like exchange rates, growth and solvency, is important, the real impact will be felt by the people of this country. Most of the impact is being felt by the lower- to middle-income groups. We really have to start thinking about what can be done by the state
Caretaker Prime Minister Anwaarul Haq Kakar’s government increased the prices of petrol and high-speed diesel (HSD) on Thursday by Rs14.91 and Rs18.44 per litre, respectively, to beyond Rs300, a psychological barrier that has been crossed for the first time in the country’s history. Besides, in a major policy decision, the government increased the petroleum levy on petrol by Rs5 per litre, from
The PTI has alleged that sugar mill owners have earned over Rs500 billion during the last four months due to the rise in the commodity’s price. Muzzammil Aslam, PTI spokesperson on economy and finance, said on Thursday the price of sugar has doubled during the last three to four months, further compounding the miseries of the inflation-ridden and poverty-stricken masses. In a video shared on
The rupee’s free fall and the dollar’s seemingly unstoppable rise have made the former almost irrelevant to the economy as queues for purchasing the greenback are growing by the day. According to currency dealers, the finance minister’s statement that the situation was worse than she had realised, sent waves of shocks in the exchange rate market. Malik Bostan, President of the Forex Associat