A high-level delegation from Saudi Arabia, led by Foreign Minister Prince Faisal bin Farhan Al Saud, is in Pakistan for a two-day visit starting today, April 15th. The visit underscores Saudi Arabia’s growing economic commitment to Pakistan. The delegation includes key figures from Saudi Arabia’s water, agriculture, industry, and investment sectors. Meetings are planned with…
In a strategic move, both the federal and Punjab governments are gearing up for a major transition to a new pension system, set to be implemented by July. This shift marks a significant reform in the existing pension structure, aiming to enhance efficiency, transparency, and sustainability in the administration of pension schemes for government employees….
In a significant development, the Prime Minister has given directives to initiate the process of contacting the International Monetary Fund (IMF) with the aim of securing a more substantial bailout package. This strategic move underscores the government’s proactive approach to addressing economic challenges and ensuring financial stability. Key Points: Strategic Decision: The decision to approach…
The incoming government is on track to initiate negotiations for a new financial arrangement, eyeing a substantial $10 billion loan program with the International Monetary Fund (IMF). This prospective agreement comes into focus as part of the government’s strategy to address pressing economic challenges and ensure stability in the country’s financial landscape. The discussions surrounding…
Moody’s, the globally renowned credit rating agency, has labeled the political uncertainty prevailing in Pakistan after the recent elections as “credit negative.” This assessment underscores concerns about the potential economic repercussions stemming from the unpredictable political landscape, indicating challenges that might impact Pakistan’s creditworthiness on the international stage. Following the elections, Pakistan is grappling with…
The prevailing political instability in Pakistan has cast a shadow over the economic outlook, raising apprehensions among businesses about the potential for increased challenges in the coming months. The uncertain political climate is viewed as a significant factor that could impact various aspects of the economy, creating a sense of caution and concern within the…
The All Pakistan Textile Mills Association (APTMA) shares an ambitious plan to significantly boost the country’s textile exports. According to the shared vision, APTMA aims to achieve a remarkable milestone by increasing yearly textile exports to over $50 billion within the next five years. This strategic initiative comes as the textile sector plays a crucial…
As the upcoming Monetary Policy Committee (MPC) meeting draws near, financial experts express their expectations of a maintained stability in the policy rate. The consensus among analysts suggests that the State Bank of Pakistan (SBP) is likely to keep the policy rate unchanged in its ongoing efforts to balance economic growth and inflation control. The…
In a collaborative effort, Pakistan is set to engage with the World Bank to secure an additional financing of $250 million for the Competitive and Livable City of Karachi (CRISP) Program. This strategic collaboration reflects Pakistan’s ongoing commitment to addressing urban development challenges, enhancing the livability of cities, and fostering competitiveness in key metropolitan areas….
In a noteworthy economic development, Pakistan’s textile exports have observed a decline of 5% in the first half of the fiscal year 2024. This decrease, as reported by industry analysts, raises concerns and calls for a closer examination of the factors contributing to this contraction in one of Pakistan’s key economic sectors. The textile industry…
