ISLAMABAD: The World Bank (WB) has anticipated 4% Gross Domestic Product (GDP) growth rate in Pakistan for the upcoming fiscal…
Author: Javed Mahmood
Javed Mahmood
I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.
“The IMF has asked for 100% withdrawal of subsidy on POL products. Once the subsidy is over, the government will have to impose taxes and petroleum levy,” Miftah said, adding there is still a subsidy of Rs9.32 per litre on petrol and Rs23.05 per litre on diesel.
Deteriorating external financing, rising inflation, de-anchoring of inflation expectations, political divergence with the West in NATO, and the Turkish central bank inability to alter policy to influence macro developments mean the Turkish lira is having to depreciate to equalize the mounting economic pressures, analysts said.
The International Atomic Energy Agency (IAEA) has said that North Korean moves to expand key facilities at its main nuclear site at Yongbyon continue to advance.
The cabinet could not make any decision pertaining to closure of commercial markets by 7pm to save energy.
New government, comprising multiple parties alliance, appears indifferent to the dollar’s dredging of rupee value. Despite ban on non-essential and luxury items import, consistent depreciation of rupee value against dollar and other major currencies has shocked everyone in the country
Talking to media persons ahead of her tour, the foreign minister maintained that Pakistan has been affected more than any other country by the impact of the crisis in Afghanistan.
“The prime minister will at some point announce austerity measures to save government expenditures. After two increases in petrol prices, we are out of the financial crisis”, the finance minister said in a tweet to reassure the markets.