LAHORE, October 28 —President of the Lahore Chamber of Commerce & Industry (LCCI), Faheem-ur-Rehman Saigol, has said that the State Bank’s decision to keep the interest rate at 11% is harmful for the economy. He said that the rate should have been reduced by at least 2% to boost business activities in the country. In […]
Economic recovery
Finance minister Aurangzeb discusses Pakistan’s economic turnaround at Harvard
Pakistan’s Finance Minister, Senator Mohammad Aurangzeb, presented the country’s economic recovery at the Pakistan Conference 2025 at Harvard University. He highlighted the progress made despite inheriting significant challenges such as a contracting GDP and dwindling reserves. According to Aurangzeb, Pakistan has stabilized its economy, restored investor confidence, and reignited growth. Aurangzeb emphasized key achievements, including […]
New Zealand reopens border for tourism, economic recovery
WELLINGTON: The New Zealand government is bringing forward the date for opening the border to tourists in time for the Australian school holidays, in a move that will help accelerate the economic recovery from COVID-19, Prime Minister Jacinda Ardern said on Wednesday. From 11:59 p.m. local time on April 12, Australians will be able to […]
Gill says PMLN carried out ‘funeral’ of exports during its five-year govt
ISLAMABAD: Special Assistant to Prime Minister on Political Communication Dr Shahbaz Gill on Sunday said that the former ‘incompetent’ government of the Pakistan Muslim League-N had left $19.2 billion current account deficit which was today $773 million surplus due to pro-active policies of the present government. Reacting to the statement of PMLN spokesperson Maryam Aurangzeb, […]
State Bank keeps policy rate at 7% for next two months
KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan decided to maintain the policy rate at seven percent owing to broad-based economic rebound and expected positive momentum towards higher growth. The committee, met here on Friday to finalize monitory policy for the next two months June-July 2021, noted that further upward revision […]
‘Economic recovery ‘under threat’ amid surging coronavirus’
NEW YORK – While the global growth outlook has improved, led by robust rebound in China and the United States, surging coronavirus infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, according to the latest United Nations forecast. According to the World Economic Situation and Prospects (WESP) […]