AMERICAN online payment giant PayPal will not be coming to Pakistan, a Senate committee was told last week. Despite the government’s efforts to convince the company, which is a widely popular system supporting online money transfers, the IT secretary said it is not ready to enter Pakistan “due to...
It is a matter of some satisfaction that trade deficit of Pakistan has declined during the current year so far. According to the latest data released by the Pakistan Bureau of Statistics (PBS), trade deficit declined by about 12.82 percent (dollar 3.867 billion) to dollar 26.302 billion during July-April,...
Gas consumes are in for yet another price shock. The natural gas tariff is set to rise further, beginning the new financial year. Only a month after assuming power – in September 2018 to be exact – the PTI government had raised the gas tariff by a mammoth 143%....
All Pakistan Textile Mills Association (APTMA) seems to have pinned its hopes on PTI's government's new economic team to overcome the economic crisis now facing the country. According to Zahid Mazhar, Chairman APTMA of Sindh-Balochistan, "the new economic team is capable enough to bring Pakistan out the present alarming...
The dollar has been winging into new peaks for the past two days — in the wake of official announcement of the economic bailout agreement between the government and the IMF. Yesterday, the greenback hit an all-time high of Rs148 during intra-day trading in the interbank market before closing...
The federal cabinet approved the much-awaited amnesty scheme - 'Asset Declaration Scheme' - and the government legislated it through issuance of a presidential ordinance. There is no doubt that this was raised as an issue by the International Monetary Fund (IMF) staff and later withdrawn during the recent successfully...
A first by the incumbent PTI government, another tax amnesty scheme has been introduced for whitening of undisclosed assets, including those in foreign countries, at nominal tax rates. The scheme has come into effect through a presidential ordinance to continue till June 30 this year i.e. for a period...
The deal with the International Monetary Fund (IMF) was expected to ease market jitters and pave the way for a climate conducive to productivity and growth. The first reaction of the stock market to the deal announced on Sunday by the Advisor to the Prime Minister on Finance Dr...
It is highly disturbing to note that the outstanding stock of public debt continues to rise at a rapid rate without any hope of reversal in its trend in the near future. Briefing the National Assembly's Standing Committee on Finance, a senior official of Debt Policy and Coordination Office...
According to a Business Recorder exclusive, the government has decided to privatise Pakistan Steel Mills (PSM) in marked contrast to the recommendations made by an experts group set up by the Advisor to the Prime Minister on Industries and Commerce which concluded that the Mills should not be privatised or shut...

Opinion

crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...