NEARLY a quarter century ago, Pakistan stood at a juncture from which, it seems, the country has not emerged. The years in between now seem, in hindsight, little more than a brief detour that has brought us back to the same place. In the year 2000, when the regime of Gen Musharraf began its term, Pakistan’s relationship with its creditors was in tatters. The economy was on its knees, foreign ex
FOR three long decades, the world appeared to be moving towards greater interconnectedness. Trade ties between countries increased and pointed towards improved political stability. If emerging powers needed the consumer markets of existing superpowers in order to survive, it suggested that neither could afford a protracted war. This status quo of an integrated world now appears to be dissolving be
Despite a 26pc increase in base uniform national tariff with effect from July 1, there appears to be no respite in sight for power consumers as ex-Wapda distribution companies (Discos) have sought permission to extract almost Rs30 billion more from their subscribers next month. Through their commercial agent — the Central Power Purchasing Agency (CPPA) — the discos have filed a joint petition w
The International Monetary Fund’s (IMF) representative in Pakistan on Wednesday said that the reform process to which the government had agreed required the country to keep all state-owned enterprises (SOEs) under finance ministry oversight. “Following through on the previously agreed 2021 triage reform process, and other governance and private sector reforms, is important to durably attract fo
The government on Wednesday borrowed Rs2.073 trillion through the auction of market treasury bills mostly for three-month tenor. The State Bank of Pakistan reported that the banks placed bids of Rs3.2tr but the government remained within the auction target of Rs2.25tr. It raised Rs1.996tr through three-month papers at the cut-off yield of 22.88 per cent while it raised Rs3.486bn through 12-m