Search For "pakistan economic crisis"
Pakistan's cost-of-living crisis forces families to spend two-thirds on su
Updated : 2 months, 1 week ago IST
Pakistan's latest household survey shows families now spend nearly two-thirds of their income on food and utilities due to high inflation. Spending on education and health has sharply declined, while reliance on remittances has increased, highlighting rising inequality and shrinking purchasi
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Pakistan's economic decay fuels rising poverty and inequality, warns World
Updated : 4 months, 1 week ago IST
Amid a worsening economic crisis, the World Bank Group has sounded alarm bells over Pakistan's deepening poverty and widening inequality in its recently released report, "Reclaiming Momentum Towards Prosperity: Pakistan's Poverty, Equity and Resilience Assessment".
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PoJK struggles with soaring prices during Ramzan
Updated : 12 months ago IST
Residents of Pakistan-occupied Jammu and Kashmir (PoJK) are struggling with soaring prices of essential goods during Razdan, as government efforts to control inflation have failed. Rising costs of food and household items have left many unable to afford basic necessities, sparking frustratio
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Pakistan government borrows record PKR 5.5 trillion from banks, PKR 650 bn
Updated : 1 year, 10 months ago IST
The State Bank of Pakistan (SBP) data showed that the government's borrowing from commercial banks reached a record PKR 5.5 trillion from July 1, 2023 to April 5, 2024. This is against PKR 2.95 billion in the same period last fiscal year.
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IMF projects Pakistan's fiscal gap to widen to 7.4pc of GDP
Updated : 1 year, 10 months ago IST
Projecting stagnant tax-to-GDP ratios over the next five years, the IMF estimated the figure, which is almost 1 per cent higher than 6.5 per cent target set by the federal government.
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Pakistan faces challenge of economic reforms amid weak coalition governmen
Updated : 1 year, 11 months ago IST
Amid the staggering economic crisis, Pakistan's biggest challenge now is fiscal consolidation and reforms amid a weak coalition government and political instability stemming from accusations of electoral fraud, the Washington-based Institute of International Finance (IIF) has said, Dawn repo
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Pakistan government hikes petrol price by PKR 9.66 per litre
Updated : 1 year, 11 months ago IST
After this new hike, the price of petrol surged to PKR 289.41 per litre from the previous PKR 279.75, while the price of high speed diesel (HSD) decreased by PKR 3.32 to PKR 282.24 per litre.
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Pakistan to seek fresh IMF bailout package of over USD 8 billion
Updated : 1 year, 12 months ago IST
The country is expected to seek a fresh IMF bailout package of over USD 8 billion with the possibility of augmentation through climate finance on the occasion of upcoming spring meetings of Breton Wood Institutions, known as the IMF/World Bank, scheduled to be held in Washington, DC, from Ap
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Pakistan assures IMF not to allocate additional budget for China-Pakistan
Updated : 1 year, 12 months ago IST
The outstanding dues of power projects of China-Pakistan Economic Corridor (CPEC) alarmingly increased to a record PKR 493 billion or USD 1.8 billion as of end January. The amount was PKR 214 billion or 77 per cent higher than June last year.
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Pakistan President Zardari declares salary waiver amid economic crisis
Updated : 2 years ago IST
Pakistan President Asif Ali Zardari announced on Tuesday his decision to forgo his salary while in office, citing the economic challenges faced by the country.
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Pakistan PM Shehbaz Sharif vows to eliminate IMF dependency
Updated : 2 years ago IST
Amid the economic crisis, Pakistan Prime Minister Shehbaz Sharif vowed to get his country out of foreign debt, declaring that the country would get rid of the International Monetary Fund (IMF), Geo News reported.
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IMF approves USD 700 mn loan for Pakistan
Updated : 2 years, 2 months ago IST
Amid the crippling economic woes in Pakistan, the Executive Board of the International Monetary Fund (IMF) completed its first review of the country's economic reform programme and allowed the immediate disbursement of USD 700 million, ARY News reported on Thursday.
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