New Delhi, June 20 (IANS) Pakistan has seen several International Monetary Fund (IMF) programmes to improve its economy in the past but reforms have failed and the country stares at a bigger economic crisis. The question isn’t why reform failed but whether it was ever designed to succeed, argues a new report.The report in Dawn laments that each IMF programme reaches the same diagnosis — the tax base is too narrow, distortions are too many, and institutions are too weak. “The IMF prescribes…
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United Nations, April 1 (IANS) The military escalation in the Middle East, now in its fifth week, may cost economies in the region from 3.7 to 6 per cent of their collective GDP, representing up to $194 billion in losses, according to a new report issued.The total value of the losses may exceed the cumulative regional GDP growth achieved in 2025, said the report from the United Nations Development Programme (UNDP).Coupled with an estimated rise in unemployment of up to 4 percentage points or 3.6…
New Delhi, March 21 (IANS) Pakistan will continue to pay over $15 million a month in capacity and utilisation charges to its LNG terminals even after QatarEnergy declared force majeure earlier this month, according to a new report.According to the report by The News International, Pakistan is making daily payments of about $538,535 to the two terminals despite the suspension of LNG production from March 2.Federal Minister for Petroleum, Ali Pervaiz Malik, reportedly criticised the agreements, de…
New Delhi, Jan 1 (IANS) The widely quoted Corruption Perceptions Index, prepared annually by Transparency International, has ranked Pakistan 135 out of 180 countries for 2024, according to an article in the Pakistan media.There is a need to see the change in ranking of Pakistan over the years, as the incidence of corruption has been highlighted in a recent report by the IMF, the article in the financial newspaper Business Recorder said.In 2015, Pakistan was placed at 117 out of 168 countries, eq…