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…
Latest State-Owned Enterprises News & Updates
New Delhi, Feb 24 (IANS) Pakistan’s economy is in dire straits as inequality and poverty are rising, while the Federal government is close to bankruptcy, according to an article in the Pakistani media.The article in the Karachi-based Business Recorder pitches for export-led growth as the way ahead to uplift the masses by creating economic opportunities, along with a drastic overhaul of governance in public service delivery, especially in education.It notes that political parties refuse to devolv…
New Delhi, Feb 12 (IANS) A structural issue responsible for perpetuating Pakistan’s dependence on the IMF is its failure to control expenditure, which has spiralled, at both federal and provincial levels, via salary increases far exceeding inflation for the civil, judicial, and military bureaucracies alongside expanding vehicle fleets, luxury housing, plush offices, overseas junkets, and discretionary budgets, often without mandates, sunset clauses or performance tests, according to an article…
New Delhi, Jan 19 (IANS) Pakistan’s power sector has plunged into a major crisis, with consumers ending up paying up huge electricity bills even though they have to face frequent outages, according to reports.According to media reports emanating from Pakistan, the mess is due to misgovernance, corruption, underinvestment, and unpredictable policy.The power sector’s credibility is at its lowest point as even several policy resets have not been able to correct the situation. So, it is no surpr…