New Delhi, April 7 (IANS) Pakistan’s fiscal challenges are deepening as the country struggles to meet its tax collection targets, with the Federal Board of Revenue (FBR) falling significantly short in the current financial year, a report has said. The shortfall reflects the broader economic slowdown in Pakistan, worsened by trade disruptions linked to ongoing conflict in the Middle East, according to Business Recorder report.Pakistan’s tax collection gap has widened sharply, with the Federal…
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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…
Islamabad, April 6 (IANS) Pakistan’s chronic dependence on external debt reflects decades of fiscal mismanagement, entrenched elite capture and failure to broaden the tax base or restructure loss-making state-owned corporations, a report said on Monday. According to a report in the ‘Khalsa Vox’, Pakistan has announced to repay $3.5 billion in debt to the United Arab Emirates (UAE) by the end of April 2026, projecting the decision as an “act of sovereign pride”.It added that Abu Dhabi had s…
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/Islamabad, April 4 (IANS) Facing mounting pressure, Pakistan has agreed to fully repay approximately “USD 3.5 billion” in deposits and loans to the United Arab Emirates (UAE) by the end of April, after the Gulf nation sought the immediate return of the money. The development comes amid reports that the UAE asked for the swift repayment of the funds, reportedly due to regional tensions linked to the ongoing conflict in West Asia involving the US, Israel, and Iran.Multiple media repo…
New Delhi, April 1 (IANS) Pakistan’s economy bears significantly greater risks associated with the ongoing Middle East crisis, as the impact on the general public is considerably higher than on those nations which do not have to meet strict IMF conditions due to loans taken from the multilateral institution, according to an article in the local media.During the past three decades, Pakistan has been administered by the military and civilian governments represented by all three major national pa…
New Delhi, March 31 (IANS) The recent surge in global oil prices is testing Pakistan’s fragile macroeconomic stabilisation and the International Monetary Fund’s (IMF) tolerance of Islamabad’s decision to cushion domestic fuel prices signals a shift in approach, a new report has said.The report from Dawn, however, cautioned that the government’s decision to shield the population from rising fuel costs is politically understandable but economically unsustainable.The West Asian conflict has i…
Islamabad, March 29 (IANS) Amid the economy suffering with many loose ends on energy, logistics, digital infrastructure, education, poverty, and employment, the Pakistani government wants to establish itself as a major exporter of fighter jets, according to a report. “To be clear, an economy struggling to meet its ends-meet needs to focus on producing necessary goods for mass consumption, in order to ensure the welfare of its citizens; otherwise, the scarcity can lead to a spiral of rising infla…
Islamabad, March 24 (IANS) If the war in Iran does not end quickly, it could give the most devastating shock to Pakistan’s economy in the living memory, a report has stated. Pakistan remains most exposed to the war’s evolving fallout and its economy faces several fault lines considering that it imports majority of its fuel and food from West Asia and relies heavily on the remittances from Gulf. “The country’s misfortune is compounded by timing. This is not an economy facing a shock from a posi…