New Delhi, April 7 (IANS) Debt-ridden Pakistan is facing a grim financial situation as it has to repay $3.5 billion to the United Arab Emirates this month. The repayment, confirmed by a senior cabinet minister during a press briefing, as reported by Pakistan’s Express Tribune, comes at a time when Islamabad’s foreign exchange reserves have fallen to abysmally low levels, raising concerns about the country’s capacity to fulfil its external debt obligations.This financial burden has been int…
Latest Economy News & Updates
New Delhi, April 6 (IANS) Pakistan’s decision to raise petrol prices to Rs 458.40 per litre, with a petroleum levy of Rs 161 per litre, risks “a structural shock on an already fragile economy,” a new report has said.The report from Business Recorder said that the hike necessary under the constraints of the IMF programme will pass through supply chains, inflating input costs, compressing margins, and ultimately dampening output.The hike also aims to mobilise revenue after the administration mis…
New Delhi, April 6 (IANS) Pakistan’s total public debt rose from Rs 71 trillion to Rs 80.5 trillion in 360 days, a government fiscal summary shows — a Rs 9 trillion increase across a period the government has described as one of economic stabilisation — a new report has said.According to a report published in The News International, the increase translates to Rs 26 billion borrowed every day, including 19 gazetted public holidays.Hourly, the government incurs Rs 1.08 billion in new debt. Moreo…
New Delhi, April 5 (IANS) The ongoing war in Iran is creating real economic pressures in Bangladesh, affecting fuel, fertiliser, freight, and foreign exchange, a report has said. While the country is geographically distant from the conflict, its highly connected economy is feeling the impact quickly, as per The Daily Star report.The main channel of this disruption is the Strait of Hormuz, through which about one-fifth of the world’s oil and LNG normally move.Any interruption in this route affe…
New Delhi, April 5 (IANS) Pakistan’s sharp increase in domestic petrol and diesel prices is being seen as an unavoidable response to rising global oil costs triggered by the ongoing US-Israel conflict with Iran, even as the move is expected to intensify inflationary pressures across the economy, a report has said.The Pakistan government recently raised petrol prices steeply before rolling back Rs 80 within 24 hours, after an earlier increase of Rs 137 had pushed rates to Rs 458 per litre, acco…
Islamabad, April 5 (IANS) Traders in Pakistan have warned the government of a nationwide protest if the hike in petroleum prices is not withdrawn, while also calling for an end to the ongoing crackdown on bakers (naanbai), local media reported on Sunday. While addressing a press conference at the National Press Club, All Pakistan Anjuman-i-Tajran President Ajmal Baloch stated traders cannot be called “thieves and robbers”, stressing that the business community was the backbone of Pakistan’s econ…
New Delhi, April 2 (IANS) Pakistan’s provincial governments have agreed to share the financial burden of a fuel subsidy announced by Prime Minister Shehbaz Sharif, as the country grapples with rising global oil prices triggered by the ongoing conflict in the Middle East, a report has said.The decision comes at a time when international petroleum prices have surged due to supply disruptions, with the conflict now entering its fifth week, according to a report by Business Recorder.While it remai…
New Delhi, April 1 (IANS) Congress National President Mallikarjun Kharge on Wednesday launched a sharp attack on the Centre over the “rising prices of essential commodities”, including LPG, air travel, and medicines, accusing the government of economic mismanagement.In a post on X, Kharge said, “The Modi government has completely dismantled the country’s strategic and economic policies — a direct consequence of which is now being borne by 1.4 billion Indians.”Referring to recent price revisions…
Washington, March 28 (IANS) US President Donald Trump said he plans to visit China soon, highlighting his strong personal relationship with President Xi Jinping while emphasising that the United States continues to compete with Beijing on trade and economic policy.Speaking at the Future Investment Initiative summit in Miami, Trump said he maintains a close relationship with Xi. “I get along really well with him,” he said, citing cooperation on issues including a deal involving TikTok.Trump s…
Islamabad, March 27 (IANS) Pakistani military establishment, under the leadership of Asim Munir, has abandoned the facade of economic recovery and opted for a “strategic psychosis”. As ordinary Pakistani citizens struggle with record-breaking inflation and a collapsing power grid, the ‘Men in Olive Green’ are diverting the nation’s dwindling resources towards Intercontinental Ballistic Missile (ICBM) development and reconstruction of their proxy terror networks, a recent report has highlighted. …