Tag Archives: Economy

Key Takeaways: 1. As part of the stand-by agreement with the IMF, the Pakistani government aims to limit the premium between interbank and open market exchange rates to no more than 1.25 percent during any consecutive 5-day period.2. The premium is defined as the difference between the interbank and open market rates and will be closely monitored to ensure stability …

Introduction: The Neelum Jhelum hydropower project, with a capacity of 969 megawatts, is gearing up to resume electricity generation by the end of July. The project was temporarily suspended last year due to the collapse of a part of its tail race tunnel. However, restoration work is nearing completion, and the project is now ready to contribute power to the …

Introduction: In response to the recent decline in international oil prices, the federal government has taken a commendable step by announcing a reduction in petroleum product prices. This move aims to provide relief to consumers who have been grappling with rising fuel costs. Finance Minister Ishaq Dar made the announcement during a press conference, highlighting the significant cuts in the …

Introduction: The Cybercrime Wing of the Federal Investigation Agency (FIA) has taken a significant step in combating predatory online loan apps by arresting nine suspects involved in blackmailing innocent people. These arrests shed light on a disturbing trend of harassment and misuse of personal data through fraudulent lending practices. The FIA has launched investigations and is determined to bring all …

Introduction: The State Bank of Pakistan (SBP) has reiterated its firm stance on cryptocurrencies, maintaining a ban on the trading and investment activities related to virtual currencies in the country. Despite the growing global interest in cryptocurrencies, SBP has shown no flexibility in allowing institutions to engage in cryptocurrency businesses within Pakistan. This article delves into the regulatory measures imposed …

Introduction: The “brain drain” phenomenon refers to the emigration of highly skilled and qualified individuals from their home country in pursuit of better job opportunities abroad. Unfortunately, Pakistan has been experiencing a significant brain drain, with a staggering number of young professionals leaving the country in recent years. In this blog post, we will delve into the factors driving this …

Introduction: Pakistan’s foreign reserves have witnessed a remarkable increase, reaching a substantial $9.84 billion. This surge can be attributed to significant financial support from various sources, including Saudi Arabia, the UAE, and the IMF. The influx of funds has bolstered Pakistan’s financial stability, strengthened its economic position, and instilled confidence in international partners. Saudi Arabia and UAE Contributions: Notably, Saudi …

Introduction: Economic policymakers have expressed serious concerns over the high cost of electricity generation by K-Electric (KE) and are seeking measures to reduce production costs. Discussions held at a recent meeting of the Economic Coordination Committee (ECC) focused on the need for a detailed plan to slash the cost of electricity generation and alleviate the fiscal burden. Gas Allocation Policy …

Introduction: The Ministry of Finance’s delay in allocating the budget of Rs400 million to the newly established Special Investment Facilitation Council (SIFC) in Pakistan has raised concerns about the council’s ability to fulfill its mandate. Despite being a civil-military led body aimed at removing obstacles in the way of foreign investment, the lack of resources has hindered the SIFC’s operational …

In a positive turn of events, the Pakistani currency has witnessed a strengthening trend against the US dollar in the wake of the IMF executive board’s approval of a $3 billion loan program for Pakistan. The currency improved by Rs2.14 to Rs275.34 against the greenback in the interbank market on Thursday morning. Early reports indicated a significant surge, with the …