PAKISTAN ECONOMIC CRISIS
IMF reaches agreement with Pakistan for $7 billion extended fund facility The International Monetary Fund announced on Friday that it has reached a staff-level agreement with Pakistan for a $7 billion, 37-month loan program. The program aims to promote stability and inclusive growth in the crisis-stricken South Asian nati...
13 Jul, 2024, 07.45 AM ISTAs violence surges, can Pakistan protect its Chinese projects? Security measures in Pakistan are being ramped up to protect Chinese workers amidst rising militant violence targeting Chinese-funded projects. Recent attacks have led to casualties and raised concerns about the security of investments. The situatio...
10 Jul, 2024, 02.35 PM ISTModi good not just for India but for entire South Asia: Pakistani-American businessman Pakistani American businessman Sajid Tarar praises Prime Minister Narendra Modi for ensuring stability in India and South Asia, emphasizing Modi's leadership as crucial for the region's future. Tarar hopes for improved India-Pakistan relations under...
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Pakistani Prime Minister Sharif meets China's Xi in Beijing ahead of IMF talks China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing, affirming China's support for Pakistan's sovereignty and economic development. The meeting occurred ahead of Pakistan's annual budget and anticipated IMF loan appli...
08 Jun, 2024, 01.10 AM ISTPakistan PM Shehbaz Sharif in Beijing for talks with President Xi to seek more investments, elevate ties Visiting Pakistan Prime Minister Shehbaz Sharif has reached Beijing for talks with Chinese President Xi Jinping and other leaders to elevate all-weather bilateral ties and prospects of more aid and investments to bail out his cash-strapped country f...
06 Jun, 2024, 11.29 AM ISTIMF, Pakistan make significant progress on new loan, IMF mission says The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default.
24 May, 2024, 11.34 AM ISTIMF asks Pakistan to 'impose' tax on monthly pensions, says 'new bailout programme' will require reforms The International Monetary Fund (IMF) has requested Pakistan to impose a tax on monthly pensions exceeding Rs 100,000 as part of a new bailout program. The IMF's demand is expected to gain legislative support to tax wealthy pensioners. Pakistan rema...
20 May, 2024, 11.38 AM ISTProtests in PoK consequence of Pakistan's policy of systemic plundering of resources: MEA India asserts protests in Pakistan-occupied Kashmir due to Islamabad's systemic plundering. Affirms Jammu and Kashmir's integral part of India amid violent protests over economic crisis in PoK. Highlights Islamabad's exploitation denying local right...
17 May, 2024, 10.40 PM IST'India landed on moon, while we...': Pakistani lawmaker highlights lack of amenities in Karachi A lawmaker from Pakistan, Syed Mustafa Kamal of MQM-P highlighted India's moon landing compared to Karachi's issues like children dying in gutters due to lack of fresh water and educational challenges.
16 May, 2024, 09.30 AM ISTWho is Sajid Tarar? The Pakistani-American businessman praises PM Modi and makes Lok Sabha poll prediction Pakistani-American businessman Sajid Tarar praises Narendra Modi's leadership and highlights India's democratic process. He also advocates for addressing economic challenges in Pakistan and fundamental issues like boosting exports and controlling te...
15 May, 2024, 10.53 AM ISTModi will return as PM of India; hope Pakistan gets leader like him: Pakistani American businessman Sajid Tarar "Modi is a remarkable leader. He's a natural-born leader. He is the one prime minister who has visited Pakistan in adverse circumstances and risked his political capital. I'm expecting that Modi ji will start dialogue and trade with Pakistan," Tarar...
15 May, 2024, 08.31 AM ISTChina, Pakistan discuss realignment of Karakoram Highway, speed up CPEC projects China-Pakistan discussed CPEC projects, Gwadar Port, and KKH realignment. They addressed ML-I upgradation, Dasu Hydropower Project, and security concerns in the region.
14 May, 2024, 06.22 PM ISTDespite $125 billion debt, why is Pakistan increasing its defence budget to 18000 crore rupees Pakistan faces economic strain with a $124.5 billion foreign debt, 42% of its GDP. It boosts military capabilities through major arms imports, mainly from China, accounting for 82% from 2019 to 2023. Despite economic woes, it increases defense spend...
13 May, 2024, 02.32 PM ISTPakistan's debt trap has become 'death trap', admits PM Shehbaz Sharif at the World Economic Forum PM Shehbaz Sharif attended the two-day WEF Special Meeting on Global Collaboration, Growth, and Energy in Riyadh, Saudi Arabia. He made remarks on the increasing inflation rates in the country during the closing session of the WEF. PM Shehbaz Sharif...
01 May, 2024, 02.03 PM ISTPakistan struggles with soaring inflation and widening wage disparities The government's decision to devalue the currency by over 50 per cent within a year and eliminate subsidies as part of the latest instalment of the International Monetary Fund bailout package has exacerbated the nation's cost-of-living crisis.
30 Apr, 2024, 07.44 AM ISTPakistan 'ashamed': PM Shehbaz Sharif 's surprising admission on Bangladesh's economic rise Shehbaz Sharif strategized with Karachi's business community, referencing Bangladesh's industrial progress. Discussions covered political stability, economic growth, and potential IMF funding for a staff-level agreement, a larger loan, and addressin...
26 Apr, 2024, 12.40 PM ISTAbout 10 million people at risk of slipping into poverty in Pakistan: World Bank The World Bank's report paints a grim economic picture of Pakistan, with slow growth, high inflation, and missed targets contributing to increased poverty risks, exacerbated by limited wage growth and chronic inflation.
03 Apr, 2024, 11.29 PM ISTPakistan's new President Asif Al Zardari decides to forgo salary; cites economic hardship of people Zardari, 68, who took oath as Pakistan's 14th President on Sunday, decided to encourage prudent financial management and not burden the national exchequer, his Pakistan Peoples Party (PPP) said in a statement on X. "The President considered it essen...
12 Mar, 2024, 07.11 PM ISTIn cash-strapped Pakistan, first challenge before the new government is to select the finance minister Pakistan's political impasse may end with a coalition government, but economic worries persist over the finance minister appointment. The PML-N faces a choice between an experienced banker or a new face. The PPP opposes Dar's appointment. The IMF de...
21 Feb, 2024, 01.10 PM ISTPakistan's current economic model is not working: World Bank 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, Benhassine said.
28 Dec, 2023, 03.01 PM IST