Pakistan's Punjab govt has tabled legislation that could see rates as high as 45%. Agricultural income tax hikes among measures prescribed to raise revenue under $7bn IMF bailout deal.
Investors perceive SBP’s signals of potential rate cuts as a green light for increased borrowing and spending, which could stimulate economic activity.
In 2023, Pakistan was grappling with the risk of debt default, unprecedented inflation, record-high yields on government bills, and political instability. But 2024 is all set to be a happy new year.
The currency has lost about 6% of its value against the dollar in the first three weeks of Anwaar-ul-Haq Kakar’s tenure, as he faces economic challenges and IMF terms.
IMF executive board is scheduled to meet on 12 July to approve $3 billion SBA with Pakistan. But there are doubts whether this will stave off default, or just push issue to 2024.
Sharif's govt is hoping to persuade the IMF to unlock at least some of the $2.5 billion left in a $6.5 billion programme that Pakistan entered in 2019.
In all, 16 people have been killed in chaos at charity distributions especially during Islamic fasting month of Ramadan, a time for giving and spiritual reflection.
When reading the book, one can see Roy’s mother as a 'fascist government' unto herself, the centre of her own cult. In Arundhati’s words, Mary Roy was ‘mother guru’.
ED has accused Amtek promoter Arvind Dham of controlling web of nearly 500 shell companies operating as a layered structure, with up to 15 levels of indirect ownership, to divert funds.
China flaunted military might & modernisation as it displayed stealth drones, anti-satellite system & cyber warfare contingent during parade to mark victory over Japan in WWII.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
COMMENTS