Tag: economic challenges
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Pakistan’s poverty rates may remain elevated: World Bank report
The World Bank’s latest Pakistan Development Update has shed light on the country’s ongoing battle with poverty.
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PM Shehbaz transfers ECC chairmanship to Finance Minister Aurangzeb
Prime Minister (PM) Shehbaz Sharif, in a reversal of his earlier decision, has transferred the chairmanship of the Economic Coordination Committee (ECC) to Finance Minister Muhammad Aurangzeb.
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Car sales increase in Pakistan despite high prices, economic challenges
In a surprising turn of events, the soaring prices of cars in Pakistan have not deterred buyers, as car sales experienced a notable uptick in February 2024.
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Indus Motor Company invests Rs3 billion to boost local auto production
In a significant move within Pakistan’s automotive sector, Indus Motor Company Limited (INDU) has greenlit an investment of approximately Rs3 billion (around $10.76 million) aimed at bolstering the localization of production.
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Pakistan grapples with 23% surge in power generation costs amidst economic woes
In a startling development, the cost of power generation in Pakistan has surged by a staggering 23 per cent in January 2024, compared to the same period last year, reports the brokerage house Topline Securities.
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Economic challenges await next govt as Pakistan votes
Pakistan is set to hold its national elections on Thursday, a crucial event for the country grappling with multiple crises.
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Monthly inflation expected to ease in the coming months
In January, a discerning shift towards disinflation is anticipated, as headline inflation is poised to soften to 27.2 per cent year-over-year (YoY), attributed to a favourable base effect.
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Price Monitoring Committee responds to alarming spike in food prices
In response to the surge in food prices, the Food and Industries Departments of Punjab, Sindh, and KP have jointly implemented robust monitoring measures, including heavy fines, surprise raids, and the sealing of establishments engaging in price gouging.
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IMF greenlights $700 million for Pakistan’s economic stabilisation programme
In a significant development, the International Monetary Fund (IMF) successfully concluded its first review of Pakistan’s economic reform programme on Thursday.
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Pakistan grapples with massive Rs63.4 trillion debt
In November 2023, Pakistan’s total debt soared to an alarming Rs63.399 trillion, marking a significant increase from Rs50.959 trillion in the same month of the previous year.