THE resumption of the IMF package, that was badly needed to avert an external payments crisis, has reignited passions. As most countrymen wrestle with the question of whether or not the Fund is a tool of neocolonialism to keep countries like Pakistan sedated and subservient, what is lost in the debate is why we always wind up at its door. Let’s take a peek. Energy is the relevant sector to get
The State Bank of Pakistan has assured the business community of clearing all backlog import-related payments of less than $50,000 within two days, said a statement issued by the Federation of Pakistan Chambers of Commerce and Industries (FPCCI) on Wednesday. Sharing this breakthrough with trade and industry, FPCCI President Irfan Iqbal Sheikh said the central bank had agreed to clear or settle
Pakistan’s current account deficit (CAD) fell to $0.7 billion in August, compared to $1.2bn in the previous month, the State Bank of Pakistan (SBP) said late on Wednesday night. This equates to a decline of 41.67 per cent month-on-month. For the first two months of the current fiscal year, the current account deficit narrowed by $0.5bn to $1.9bn compared to the corresponding period in FY22, the
The Asian Development Bank (ADB) has approved a $100 million loan to improve the quality of secondary health care in Khyber-Pakhtunkhwa, the lender said in a statement on Thursday. The programme will improve the delivery of health services at secondary hospitals by modernising infrastructure and equipment, ensuring implementation of clinical protocols, standards and guidelines and improving hu
The federal government will provide subsidised seeds and fertilisers to farmers in flood-affected areas during the upcoming Rabi sowing season, Minister for National Food Security and Research Tariq Bashir Cheema announced on Thursday. “We plan to provide subsidised wheat and edible oil seeds, and one fertiliser bag per acre to farmers in the calamity-hit areas,” said Mr Cheema during a meeting