Slippages in entrenched status quo – Business
The manifestos of major political parties announced just days before the Feb 8 polls display their leadership’s approach to making promises to voters and obtaining their necessary approval without giving enough time for any meaningful public scrutiny. Thus, there is also a missing link of accountability of elected representatives by the voters. An impression has […]
Estimating the election economy – Business
How much political parties spend on campaigning during elections cannot be estimated with a fair degree of certainty, but it is possible to triangulate approximately how much spending is generated in the run-up to general elections. The Election Commission of Pakistan (ECP) has mandated a spending ceiling of Rs10 million for candidates campaigning for the […]
Centre, provinces agree to deliver Rs600bn surplus – Business
ISLAMABAD: As part of efforts to regain some of the fiscal space lost under the 7th National Finance Commission to provinces almost 15 years ago, the federal government has signed agreements with the four provinces to deliver a cumulative fiscal surplus of at least Rs600 billion and refrain from creating further debt in operations of […]
ECC approves GB wheat subsidy, trims ministries’ budgets – Business
ISLAMABAD: Amid continuous unrest in Gilgit-Baltistan for almost a month over a wheat price hike, the Economic Coordination Committee (ECC) of the Cabinet on Thursday agreed to continue providing subsidy to the people of the region by slashing budgets of some major ministries in view of strict IMF conditions on subsidies. The meeting, presided over […]
Inflation clocks in at 28.3pc in January – Business
Inflation, measured by the Consumer Price Index (CPI), surged by 28.3 per cent year-on-year in January, according to data released from the Pakistan Bureau of Statistics (PBS) on Thursday. This is the last monthly CPI data before the general elections due on Feb 8 and comes as the country undertakes reforms linked to a $3 […]
Petrol price raised by Rs13.55 per litre – Business
ISLAMABAD: The caretaker government on Wednesday increased the per-litre price of petrol by Rs13.55 and that of high-speed diesel (HSD) by Rs2.75 for the next fortnight ending Feb 15, citing higher international market and import premiums. The government has also raised the price of liquefied petroleum gas (LPG) by Rs1.16 per kilogram for February. In […]
Govt hikes petrol price by Rs13.55 per litre – Business
The caretaker government has hiked the price of petrol by Rs13.55 per litre for the next fortnight. The new price of petrol is now Rs272.89 per litre from the previous price of Rs259.34, according to a notification from the Finance Division. The price of high-speed diesel (HSD) was increased by Rs2.75 to Rs278.96 per litre. […]
After ECP snub, caretakers leave FBR to elected govt – Business
• Commission says caretakers do not have mandate to legislate, tells them to stick to routine matters• Cabinet approves restructuring plan; two oversight bodies for Customs, IRS; Federal Policy Board on the cards• Shamshad says tax-to-GDP ratio to be at 18pc in five years ISLAMABAD: After the Election Commission of Pakistan (ECP) barred the caretaker […]
IMF downgrades Pakistan’s 2024 growth estimate to 2pc – Business
The International Monetary Fund (IMF) has downgraded Pakistan’s growth estimate for fiscal year 2024 to two per cent, according to a report issued on Tuesday. The Fund’s World Economic Outlook (WEO) for January said the estimate was downgraded by 0.5pc from 2.5pc in October’s outlook. The IMF’s latest growth forecast is lower than the government’s […]
Economic realities will derail all lofty slogans – Business
Another round of gas and electricity rate hikes would already be in place before the next PM takes over. WHEN inflation-hit and poverty-stricken voters head to polling stations on February 8, after nearly a month of hearing lofty campaign promises designed by parties vying to come to power, they may be forgiven in hoping for […]