New Delhi, Feb 3 (IANS) Debt-ridden Pakistan’s recent request to the United Arab Emirates (UAE) for the rollover of $3 billion deposits reflects the heavy dependence of the country’s economy on borrowing from friendly countries and the IMF to stay afloat.This pattern of repeated rollovers and emergency funding from friendly states and the IMF has provided short-term breathing space but has also entrenched a fragile economic model that discourages domestic reform, distorts incentives, and per…
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New Delhi, Feb 2 (IANS) The Pakistan government has become addicted to IMF borrowing much like a drug addict and refuses to extricate itself from the self-made problem of creating cycles of foreign exchange shortages and bare sufficiency with IMF loans, according to a new report.These are accompanied by fiscal profligacy as seen in the government’s inability to contain needless expenditures and raise sufficient revenues to keep its debt at sustainable levels, according to an article by former …
Bhubaneswar, Feb 1 (IANS) Odisha Pradesh Congress Committee (OPCC) President Bhakta Charan Das on Sunday strongly criticised the Union Budget for the 2026–27 financial year, presented in Parliament, describing it as ‘anti-people’ and ‘directionless’. Speaking to media persons, Das also alleged that the Union Budget tabled in Parliament by Finance Minister Nirmala Sitharaman primarily benefits a “handful of industrialists” while neglecting the needs of farmers, women, youth, the poo…
New Delhi, Jan 31 (IANS) The current regime in Pakistan is outdoing even those that preceded it in accumulating short-term debt, promoting conspicuous consumption, and engaging in resource grabs, a new report has said.There is actually a bigger gap between how the ruling class projects its ‘successes’ and the actual conditions of working people than the inordinate focus on foreign remittances, says the report in Dawn.As per figures, remittances reached a record high of $34 billion in 2024 –…
New Delhi, Jan 30 (IANS) Pakistan’s socioeconomic crisis is being worsened by rising food inflation and unemployment rates, according to a media report.Maldives Insight cited the World Bank’s data to show that about 45 per cent of the population in Pakistan is classified as living below the Poverty Line (BPL). The country’s unemployment rate remains at a 21-year low, with investment at a 50-year low and gross debt-to-GDP ratio at 71.3 per cent.“All this deepens stagnation, inequality, fi…
New Delhi, Jan 26 (IANS) Pakistan’s economy continues to survive on external support rather than real reform, as policymakers rely on foreign borrowing and strategic alliances to avoid repeated financial collapse, a report has said.For decades, Pakistan has faced recurring economic crises, only to be rescued each time by foreign creditors, the International Monetary Fund (IMF), or friendly nations, according to an analysis by Sakariya Kareem.Instead of building a competitive export-driven econ…