US President-elect Donald Trump is reportedly considering declaring a national economic emergency to justify imposing global tariffs on imports from both allies and adversaries, CNN reported Wednesday citing sources familiar with the discussions. The move would enable Trump to use the International Emergency Economic Powers Act, which gives the president the power to regulate imports … Read more
ISLAMABAD: The cash-strapped federal government has approved a $330 million (Rs92 billion) loan for Benazir Income Support Program (BISP) beneficiaries. This approval coincides with the International Monetary Fund’s renewed emphasis on transferring responsibility for social protection to the most financially stable governorates. The Central Development Working Party (CDWP), headed by Planning Minister Ahsan Iqbal, has … Read more
View of the World Bank building. – Reuters/File The World Bank report expects the GDP growth rate to reach 2.8% in Pakistan. Business confidence is likely to improve after the credit rating upgrade. Pakistan’s lack of trade openness is hurting exports, the report says. ISLAMABAD: In its report titled “Pakistan’s Development Modernization: Dynamics of Power … Read more
On Thursday, the US State Department imposed sanctions on a Chinese research institute and several companies it said were involved in supplying Pakistan’s ballistic missile program. Likewise, Washington targeted three China-based companies with sanctions in October 2023 for supplying materials that could be used in missile manufacturing to Pakistan. Ministry spokesman Matthew Miller said in … Read more