Tag: Economic crisis
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Inflation has eroded purchasing power of Pakistanis: Bloomberg
A recent Bloomberg report reveals that Pakistan is facing the highest inflation rate in its region.
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IMF’s fiscal strategy for Pakistan criticised for overlooking debt restructuring
The International Monetary Fund (IMF)’s current fiscal strategy for Pakistan, which focuses on strict fiscal consolidation—entailing reduced spending and increased revenue—has come under significant scrutiny. Critics, including Murtaza Syed, a former deputy governor of the State Bank of Pakistan and ex-IMF official, question the approach due to its lack of emphasis on debt restructuring. In…
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IMF engagement should not hinder Pakistan’s economic progress: PM Shehbaz
Prime Minister (PM) Shehbaz Sharif asserted on Tuesday that any forthcoming engagement with the International Monetary Fund (IMF) must not impede Pakistan’s economic progress.
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World Bank projects only 1.7% growth for Pakistan in FY 2023-24 amid economic challenges
The World Bank has issued a cautious outlook for Pakistan’s economy in the fiscal year 2023–24, projecting a modest growth rate of 1.7 per cent.
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NEPRA recommends electricity rate increase of Rs3.28 per unit
The National Electric Power Regulatory Authority (NEPRA) has officially proposed to the government an increase in the electricity tariff of Rs3.28 per unit, citing the need for a quarterly adjustment.
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Significant decline in mobile phone imports in two months
In the current financial year, the volume of imports of mobile phones was 89.93 million dollars In the first two months of the current financial year, a significant decline has been recorded in the imports of mobile phones. According to data from the State Bank of Pakistan, the volume of imports of mobile phones in…
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98 percent of Pakistanis unhappy with country’s direction, survey
Along with the country’s economy, restoring the declining confidence of Pakistani consumers is a big challenge for the caretaker government. Apsus Pakistan released the third quarter survey report of Consumer Confidence Index. According to the survey report, 98 per cent of Pakistanis are not happy with the country’s direction, while the number of Pakistanis who…
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Economic crisis: 95 per cent of Pakistanis fear unemployment
In Pakistan, 95 per cent of Pakistanis are worried about the possibility of unemployment, while only 5% are confident of job security. Apsus Pakistan’s new survey, based on public opinion, says that there has been a clear increase in the rate of Pakistanis claiming to be unemployed in the last one year. According to the…
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WASA Faisalabad lays off over 700 daily wage workers
WASA Faisalabad has laid off over 700 daily wage workers due to the financial crisis, as the country battles with unprecedented inflation. According to Samaa News, Faisalabad WASA has also issued a notification to the same. According to the Director Admin, he is unable to bear the expenses so daily wager employees will no longer…
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IMF should help Pakistan uphold right to electricity, says HRW
For the past week, Pakistan has witnessed extensive protests against the recent surge in electricity prices. In several cities, these protests escalated into violence.