Economic growth
It is now less than a month before the government passes the budget for the next fiscal year on June 11. We have heard the oft-repeated statement from the prime minister that relief for masses in on the way and
Pakistan’s economy will grow by 2% subject to vaccine rollout: ADB
ISLAMABAD: Pakistan’s economic growth is expected to rebound this year before gaining pace in 2022 as business activity gradually resumes after the coronavirus pandemic, the Asian Development Bank (ADB) said in a report. According to the Asian Development Outlook (ADO)
New finance minister
Pakistan has its third finance minister in weeks. The prime minister appointed noted banker Shaukat Tarin as the country’s finance minister in yet another cabinet reshuffle. The PTI government has now had four finance ministers in three years, raising concerns
Edge of a precipice – Part 1
Do we really know or care to know what is happening around us? How have we been treated by the state, society, leadership and the clergy and where are we being taken to? These are not just questions out of
Govt pursuing economic diplomacy to attract investment: FM
BERLIN: Foreign Minister Shah Mahmood Qureshi has arrived in Berlin with a delegation on a two-day official visit to celebrate 70 years of diplomatic relations with Germany. Speaking at the dinner hosted in his honor at the Pakistan House in
Economic indicators and PTI govt
Economic indicators reflect the economic situation but they cannot predict what the PTI government is doing to change the lives of people. This is the fallacy of the incumbent government which claims it is improving the economy but the figures
Buy local, stop global
If we have to develop our country for our future generations, we need to change our habits and attitudes. Consumerism has crept into our society and we have adopted a foreign culture. We have become brand conscious and buying products
Economy and IMF agreements
Pakistan and the International Monetary Fund (IMF) finally reached an agreement to revive the $6 billion programme which was suspended in April last year due to the coronavirus pandemic and policy disagreements. The global financial institution reached a staff-level agreement
Rising cost of living
An increase in electricity prices has a direct effect on the cost of living. A major chunk of our income goes to major household expenses and paying electricity bills. This rise in power tariffs also increases the cost of production
Moody’s forecast 1.5% GDP growth, 4.4% in next fiscal year
ISLAMABAD: Moody’s Investor Service has forecast that Pakistan’s economy will grow at a modest rate of 1.5 percent during the current fiscal year which will accelerate to 4.4% in the next fiscal year. “Economic activity will remain below pre-outbreak levels,
2021 will be the year for economic growth: PM
ISLAMABAD: Prime Minister Imran Khan has said Pakistan is moving in the right direction with the policies aimed at bringing people out of poverty through wealth creation. Speaking at the launching ceremony of new vehicles being introduced in Pakistan, the
China to overtake US as world’s biggest economy by 2028
LONDON: China will overtake the United States to become the world’s biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the COVID-19 pandemic. “For some time, an overarching theme
Economic recovery
The PTI government is developing the economy while removing the obstacles created by the opposition either by political rallies or spreading fear that the nation is not on the right track. I am stunned by the sheer ignorance of the
Pakistan’s economy is recovering: ADB
ISLAMABAD: The Asian Development Bank (ADB) has said that Pakistan’s economy was recovering but did not provide any growth projection. This was according to a brief seven-page report “Asian Development Outlook (ADO) 2020 Supplement: Paths Diverge in Recovery from the
Return to IMF programme
The prime minister has expressed satisfaction over the economic stabilisation in the country despite the ongoing coronavirus pandemic and said the benefit of the improvement in the economy must reach the common man. For the past few months, we have
Second wave of virus can badly hit economy: Mian Zahid Hussain
KARACHI: Former provincial minister Mian Zahid Hussain has said the second wave of coronavirus can be more dangerous for the masses and the economy. The government and the central bank should take steps to save the masses and the economy
LSM output grows 7.65% in Sept, 4.81% in Q1
ISLAMABAD: The Large Scale Manufacturing (LSM) industries production grew by 7.65 percent on year-on-year basis during the month of September 2020 as compared to the corresponding month of last year. According to Pakistan Bureau of Statistics (PBS), LSMI Quantum Index
India’s economy to enter recession for first time ever
NEW DELHI: India’s economy is likely to enter a recessionary phase for the first time ever since independence. According to a statement by Reserve Bank of India, the Indian economy has shrunk for the second straight quarter (July-September) of the
Pakistan’s economic direction
Ever since the PTI assumed power, it made five key promises to the nation. The most prominent was the eradication of poverty. The prime minister has on numerous occasions cited China as a role model and hinted at adopting its
China’s economy grows 4.9% in third-quarter, extending virus recovery
BEIJING: China’s economy grew 4.9 percent year-on-year in the third quarter, sustaining its rebound from bruising virus lockdowns and moving closer to pre-pandemic levels. The world’s second-largest economy grew slightly below expectations in the July-September period, National Bureau of Statistics
Global oil prices decline as China’s economic data disappoints
SINGAPORE: Oil prices fell on Monday after reports that China’s third-quarter economic growth did not rise as much as expected, underscoring concerns that surging coronavirus cases globally are impacting demand in the world’s largest oil importer. The world’s second-largest economy
Despite COVID-19, good news for our economy: PM
ISLAMABAD: Prime Minister Imran Khan expressed optimism and said that despite the coronavirus pandemic, the good news is coming to the economy. PM Imran Khan took to Twitter and wrote that the remittances reached 2.3 billion last month. Despite Covid
Pakistan’s economy has been destroyed: Ex-PM Abbasi
ISLAMABAD: Former prime minister Shahid Khaqan Abbasi on Tuesday said that Pakistan’s economy has been destroyed and unemployment has risen. Talking to the media, Shahid Khaqan Abbasi said that we are facing baseless allegations while the country’s economy has been
New Zealand’s economy plunges into recession
AUCKLAND: New Zealand plunged into recession for the first time in a decade as data released on Thursday confirmed a record-breaking economic collapse. The 12.2 percent contraction in April-June is by far the largest since records began, said the national
President Alvi expresses satisfaction over PSX’s performance
KARACHI: President Dr Arif Alvi expressed his satisfaction over the performance of the Pakistan Stock Exchange (PSX) and stressed on the potential for further growth to attract more investment. The president was addressing media after holding an interactive session with
Economy on track
Amid the upheaval caused by the coronavirus pandemic and an economic crisis, there was some welcoming news that the Pakistan Stock Exchange has been declared as the best performing market in Asia and the fourth-best in the world. This is
Australia enters recession after three decades of growth
MELBOURBE: Australia has entered its first recession since 1991 after the economy shrank seven percent in the second quarter, official figures showed as the country reels from the coronavirus pandemic. The Australian Bureau of Statistics said it was the fastest
Govt’s fiscal policies reduced current account deficit: Finance Adviser
ISLAMABAD: Adviser to the Prime Minister on Finance Abdul Hafeez Shaikh on Tuesday highlighted the performance of the finance ministry as the federal government completes its second parliamentary year. Several members of the federal cabinet addressed a press conference highlighting
Global cases top 17 million as virus wreaks economic havoc
WASHINGTON: The scale of economic devastation from the pandemic was revealed as Western economies recorded historic slumps as resurgent caseloads forced many countries into new trade-offs between health and financial stability. Six months after the World Health Organisation declared a
Provide incentives to overcome economic crisis: Mirza Ikhtiar Baig
Mirza Ikhtiar Baig is a renowned industrialist and businessman with over thirty years of experience in various sectors of Pakistan. He is the Chairman of Baig Group operating in diversified fields in Pakistan, UAE and other countries. He is also