ISLAMABAD: The International Monetary Fund has decided to submit the results of its unscheduled visit to Pakistan to its Executive Board for a decision, citing delays in the implementation of the $7 billion programme. In an official statement at the conclusion of its five-day visit, the IMF stated that “based on the preliminary findings of … Read more
A worker bends over as he carries packages of textiles on his back to deliver them to a nearby shop at a market in Karachi on June 24, 2022. – Reuters Government domestic debt rose to Rs47.536 trillion in Q1FY25. External debt rose to Rs 22.034 trillion during the July-September period. The total external debt … Read more
Islamabad: Pakistan’s debt-to-GDP ratio has fallen to its lowest level in more than six years, standing at 65.7% as of September 2024. This represents a significant improvement, as the ratio was last recorded at this level in June 2018. Financial brokerage firm Arif Habib Limited (AHL) reported that the domestic debt-to-GDP ratio is 43.1%, while … Read more
Australian Lieutenant General Simon Stewart (left) meets with Chief of Army Staff General Asim Munir at GHQ Rawalpindi on November 11, 2024. — ISPR RAWALPINDI: Australian Army Commander, Lieutenant General Simon Stewart, met with Chief of Army Staff General Asim Munir and praised Pakistan’s anti-terrorism efforts, the army’s media wing said on Monday. According to … Read more
Participants engage in discussion during the 10th Islamabad Literary Festival. – Supplied ISLAMABAD: The 10th Islamabad Literature Festival (ILF), ‘Words Change Mindsets’, featuring 50 intellectually inspired sessions, including film screenings, dance recitals, marches, theatre, and an unforgettable Sufi evening, concluded with a spectacular closing ceremony at Allama Iqbal . The hall last evening. The event … Read more
Constantly pointing out the shortcomings of Pakistan’s energy sector may seem repetitive, but the scale of the challenges it faces keeps it in the headlines. In early November, the Government of Pakistan announced its Circular Debt Management Plan (CDMP) for the energy sector. Although the expected growth in debt obligations is only 1.5%, outstanding liabilities … Read more
Pakistan’s total liquid foreign reserves fell to $15.93 billion as of November 1, 2024, representing a decline from the previous week’s $16.05 billion, according to recent data released by the State Bank of Pakistan (SBP). The latest figures show that the State Bank of Pakistan holds $11.17 billion of the total, while commercial banks hold … Read more
Pakistan imported nearly 15 gigawatts of solar panels worth $2.1 billion from China in the last fiscal year, as reported in a study titled Great solar eruption in Pakistan. The study indicated that high electricity tariffs, which have risen by 155 percent over the past three years, are pushing households and industries with high consumption … Read more
Members of the Pakistan Navy stand guard near a ship carrying containers at Gwadar port, about 700 kilometers west of Karachi, during the opening ceremony of a pilot trade program between Pakistan and China on November 13, 2016. — AFP The monthly deficit also decreased by 17.7% from $1.82 billion. Exports showed strong monthly growth, … Read more
In 2023, Pakistan is in the spotlight. At the United Nations Climate Change Conference (COP 28) in Dubai, the whole world was looking to Pakistan as an example and an opportunity. The previous year, in 2022, historic monsoon rains devastated Pakistan, causing more than $30 billion in losses and damage. This entire incident was a … Read more