Projecting a persisting mix of sluggish growth rate and high inflationary trends with significant downside risks, the World Bank on Tuesday advocated Pakistan for a sharp fiscal adjustment of about 4pc of GDP and decisive implementation of broad-based reforms committed to the International Monetary Fund (IMF) to get out of the fiscal and macroeconomic quagmire. “Predicated on the robust impleme
Construction activities appeared to have revived in the first quarter of FY24 following a 17.7 per cent jump in domestic cement sales to 10.122 million tonnes from 8.602m tonnes in the same period last fiscal year. Exports during 3MFY24 posted a whooping growth of 72pc to 1.751m tonnes from 1.019n tonnes due to rupee devaluation during July-Aug 2023. As a result, total cement despatches (loc
The operating frameworks of the International Monetary Fund (IMF) and the World Bank Group (WBG) are ill-suited to respond to the climate crisis as their successive interventions have locked in fossil fuels, caused large-scale hydro impacts and led the country to tap into local coal reserves. According to a report released in a webinar on Tuesday by the Alternative Law Collective, Alliance for
Cotton production by the end of September surpassed the total output of the crop recorded in the last season, reveals the data released by the Pakistan Cotton Ginners Association (PCGA). However, there has been an abnormal difference between the crop statistics of the PCGA and Punjab agriculture authorities. As per the PCGA figures cotton arrivals at ginning factories across the country reac
In a significant move to curb the illegal entry of goods into the country, the government announced on Tuesday a 10 per cent processing fee on items imported under the Afghan transit trade agreement. The decision — which aims to deter smuggling and ensure proper taxation — comes at a time when the government has ordered all illegal immigrants, including 1.73 million Afghan nationals, to leave