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Tag: economic

Ministry Identifies Key Economic Risks for Pakistan

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Economic-Risks

In a comprehensive assessment, the Ministry of Finance has pinpointed eight critical fiscal risks posing potential threats to Pakistan’s economy. These risks span macroeconomic imbalances, escalating debt levels, guarantees, climate degradation, State-Owned Enterprises (SOEs) losses, public-private partnership risks, provincial fiscal indiscipline, and governance challenges. Released in the Fiscal Risk Statement (FRS) for 2023-24, the Ministry underscores the volatility in Pakistan’s…

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Oil extends losses as economic headwinds weigh on demand outlook

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Oil-prices

SINGAPORE: Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday.…

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Economic future fraught with uncertainty: WEF

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ISLAMABAD: As the World Economic Forum began its annual session in Davos on Monday, the Chief Economists Outlook report says global economic prospects remain subdued and fraught with uncertainty. The global economy continues to grapple with headwinds from tight financial conditions, geopolitical rifts and rapid advances in generative artificial intelligence, says the report released by World Economic Forum. More than…

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IMF board to review Pakistan tranche on Jan 11

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IMF-board

WASHINGTON/KARACHI: The Inter­national Monetary Fund (IMF) has included Pakistan on its Executive Board agenda for January 11, as reported on its updated website. During this meeting, the board is set to deliberate and potentially grant final approval for the disbursement of the next $700 million tranche under the existing $3 billion Stand-By Arrangement (SBA). According to the IMF Executive Board…

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Economic update for August: Upward adjustment in energy tariffs, fuel price hike to strain inflationary pressures: MoF

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economy

ISLAMABAD: The Finance Ministry Wednesday said the upward adjustment in energy tariffs and further increase in fuel prices would strain the inflationary pressures in coming months. In its monthly, “Economic Update and Outlook” for August 2023 released on Wednesday, the Finance Ministry said the two massive fuel price hikes witnessed in August 2023 and upward adjustment in energy tariffs would…

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Pakistan’s economic problems a hurdle to joining BRICS

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President-of-Brazil

Many countries interested in becoming part of emerging economies’ bloc JOHANNESBURG: The 15th BRICS Summit kicked off on August 22 in Johannesburg, South Africa. The theme of this year’s event is “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism.” “The meetings being held from August 22 to 24 are very important where some key decisions…

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Need stressed for exploring chances of importing fuel from neighboring countries

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gas-pipeline

Coordinator to Federal Tax Ombudsman Meher Kashif Younis Sunday urged the need for exploring the possibilities of importing cheaper oil and gas through pipelines from neighbouring friendly countries for economic growth and development in the country. He said that the Turkiye-Syria earthquake is likely to affect the world economy including Pakistan by causing changes in logistics and transportation, even if…

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