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The World Bank Group President David Malpass, has urged the government of Pakistan to focus on the implementation of Pakistan’s fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth. Malpass met with Muhammad Ishaq Dar, Minister of Finance and Revenue and Sardar Ayaz Sadiq, Minister of Economic Affairs of Pakistan. According to a statement issued by the bank, President Malpass emphasized to the ministers the importance of predictable economic policies to restore macroeconomic stability and market confidence. Malpass expressed his condolences for the loss…

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The government’s decision to provide electricity to five export-oriented sectors at Rs 19.99/ kWh for the remaining three quarters of the current fiscal year (2022-23), may become a stumbling block in ninth review of International Monetary Fund (IMF). This was the crux of background interaction with some government officials who are extensively dealing with the issue of five zero rated sectors. Their view was strengthened after Jihad Azour, Director, Middle East and Central Asia Department IMF, stated during a press conference on 13th October that subsidies targeted to support certain…

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Washington/Islamabad, Oct 14 (IANS) Pakistan and Saudi Arabia, once considered as key allies of Washington, are not even mentioned in the US National Security Strategy 2022, which identifies China as “Americas most consequential geopolitical challenge”. The 48-page document does mention terrorism and other geo-strategic threats in the South and Central Asian region, but unlike the recent past, it does not name Pakistan as an ally needed to tackle those threats, Dawn news reported. Pakistan was also absent from the 2021 strategy paper. In Washington, the omission is seen as reflecting…

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The high point of roll out-of mega projects under the CPEC (China Pakistan Economic Corridor) was in the last tenure of PML-N (Pakistan Muslim League-Nawaz) government from 2013-18. During this period a number of mega projects in the energy and infrastructure sector set their footprint in all parts of the country, notably, the thermal power projects in Punjab and hydro power projects in the north of KPK and Kashmir and infrastructure projects in Balochistan. The Gwadar port and its allied facilities also got a kick-start during this period. Shehbaz Sharif,…

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The coalition government is likely to jack up the per litre prices of all petroleum products except the petrol for the remaining fifteen days of October,2022 it was learnt on Thursday. According to sources in oil industry, the price of high-speed diesel (HSD) is expected to witness Rs 11.57/litre increase while Kerosene oil price is likely to be increased by Rs 4.52/litre, and light diesel oil (LDO) price may find Rs 7.48/litre hike. However, petrol price is estimated to be reduced by Rs 10.78/litre, they added. According to the working…

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