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WASHINGTON: Pakistan’s debt level is likely to remain high in near future even if consolidation efforts go as planned, warns the International Monetary Fund (IMF) in its latest Regional Economic Outlook. The report includes Pakistan among the list of countries where debt will remain above the 60 per cent vulnerability...
ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Wednesday approved six development projects worth about Rs660 billion, five of them from the water and power sector. The meeting presided over by Finance Minister Asad Umar jacked up the costs of the ruling Pakistan Tehreek-i-Insaf’s signature transport project...
ISLAMABAD:  Adviser to Prime Minister on Media Affairs Iftikhar Durrani has said that the government has introduced a comprehensive austerity drive in all departments and the Rs147 million so far saved from the Prime Minister House is expected to increase at the end of the year. Addressing a press conference on...
ISLAMABAD: Saudi ambassador to Pakistan, Nawaf Saeed Al-Malki said on Wednesday the first installment of financial aid amounting to $3 billion will be released in the next few days. The Arab kingdom will release the amount of three billion dollars in terms of balance of payment, he stated in a short...
ISLAMABAD: The Federal Investigation Agency (FIA) has traced 49 different transactions worth $2.8 million (Rs374.78 million) from Pakistan to China in Multan Metro Bus Project case from June 2016 to March 2017. However, the very moment when the FIA reached the central character of this scam, the case was...
ISLAMABAD:  The International Monetary Fund (IMF) mission currently visiting Pakistan hoped measures being taken by the government would enable it to achieve economic turnaround. The IMF mission led by Harald Finger visited Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar here on Wednesday. The mission appreciated the mega project of...
ISLAMABAD: Pakistan looks forward to the International Monetary Fund’s (IMF) support for the government’s efforts aimed at achieving an economic turnaround, the finance minister said on Tuesday. The Finance Minister Asad Umar expressed the government’s willingness for the bailout at a meeting with the visiting IMF mission led by its...
KARACHI: Subdued business was again witnessed on the cotton market on Tuesday as mills still on the sidelines in the absence of motivating factors, dealers said. The official spot rate dropped Rs 50 to Rs 8,850, they added. Prices of seed cotton in Sindh were at Rs 3000-4100, in the...
ISLAMABAD: Around 87 per cent of Pakistani people have awareness to buy and sell goods or services over internet/apps but do not know how to use these platforms as skills were a barrier to greater uptake. A report after access: ICT access and use in Asia and global south conducted...
The challenges in increasing Pakistan’s exports to China by $1 billion this year were discussed earlier in this space. While in the medium to long, focusing on promoting exports of domestic manufacturing is the best way forward, there are other ways to boost exports to reduce the CAD in...

Opinion

economic

Economic Occidentalism, FATF and Pakistan

Economic dependence of developing countries on developed countries, and international financial institutions, is not just coincidental but is largely a result of a particular...