Tag: economic policies
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Govt implements measures to control onion prices amidst rising inflation
The interim federal government has reportedly chosen to implement restrictions on onion exports due to the persistent surge in prices, as revealed by sources on Sunday. According to detailed information, the government has introduced advance payments to discourage onion exports and has established a minimum export price. These measures are aimed at preventing an anticipated…
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Finance Minister envisions Pakistan’s economy soaring to $2 trillion by 2047
Dr. Shamshad Akhtar, the Caretaker Finance Minister, emphasized Pakistan’s significant economic potential, stating that the country could achieve a $2 trillion economy by 2047, as per a World Bank report.
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Finance Ministry hits out at Atif Mian’s ‘nonsensical’ label for Pakistan’s economic policies
The Ministry of Finance strongly responded on Saturday to recent remarks made by Pakistani-American economist Atif Mian, criticising his lack of practical understanding of economics. Mian had labelled the government’s economic policies as ‘nonsensical’ and suggested that Pakistan should take decisive actions to restructure its economy, citing Ghana and Sri Lanka as examples. In response,…
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Intraday update: Pakistani rupee plunges to historic low of Rs290 against dollar amid political turmoil
On Wednesday, the Pakistani rupee (PKR) reached a historic low against the US dollar, falling to Rs290 during intraday trading at the interbank foreign exchange market. This decline is a major setback to Pakistan’s economy, as the rupee lost Rs5.16 in a single day compared to the previous day’s closing rate of Rs284.84.
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Japanese car companies consider establishing hybrid vehicle plants in Pakistan
Japan has urged Pakistan to allow the import of manufacturing equipment for vehicles due to the shortage of dollars, which has affected the issuance of letters of credit to Japanese companies operating in the country. Japanese firms are considering the establishment of hybrid vehicle plants in Pakistan, with plans to export the vehicles from the…
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Pakistan’s nuclear program not linked to loan negotiations, says IMF representative
The International Monetary Fund (IMF) has refuted allegations that it imposed any conditions on the revival of a loan program that had been suspended for several months despite ongoing discussions between the two parties. Pakistan has been in discussions with the IMF since early February to negotiate the terms of the deal, which includes the…
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Pakistan reaches out to US for assistance in obtaining IMF deal
Pakistan has requested assistance from the United States to obtain “lenient treatment” from the International Monetary Fund (IMF) due to a delay in signing the staff-level agreement (SLA). The international lender has asked Pakistan to confirm external financing needs of $6 to $7 billion from Saudi Arabia, the United Arab Emirates, Qatar, and multilateral creditors…