The cash-starved government raised almost 300 per cent more than the target through the auction of treasury bills on Wednesday, reflecting a widening gap between revenue collection and its ever-rising expenditures. The caretaker government has been borrowing heavily to meet the rising spending while the banks are equally eager to invest in the risk-free high-yielding government papers. In the l
Participating for the first time in an international human resource and labour services expo in Riyadh, Pakistan signed over a dozen agreements with Saudi and international companies to boost employment opportunities abroad for the Pakistani workforce. These agreements would open doors for the Pakistani workforce in various sectors such as construction, hospitality, information technology, s
The Central Development Working Party (CDWP) has approved seven projects worth Rs85.24 billion across various sectors namely information technology, health, physical planning and housing, specifically designated for the bustling metropolis of Karachi. The CDWP meeting chaired by Deputy Chairman Planning Commission Jehanzeb Khan approved five development projects at a total cost of Rs13bn, wh
The Ministry of Finance has anticipated that inflation will experience a gradual decline from this month mainly due to an improved supply situation, alleviation of imported inflationary pressures and the influence of a high-base effect. Inflation is expected to remain at 27.5-28.5 per cent in December 2023 and to fall further to 24-25pc in January 2024, according to the Monthly Economic Update
Pakistan’s current economic model is not working since it has fallen behind its peers, significant progress in poverty reduction has now started to reverse, and the benefits of growth have accrued to a narrow elite, observes World Bank Country Director Najy Benhassine. “There is a broad consensus that action is needed to change policies that have plagued development, benefitted only a few, and