Pakistanis feel inflation, not Kashmir, is biggest problem facing them: Survey
5 years, 2 months ago

Pakistanis feel inflation, not Kashmir, is biggest problem facing them: Survey

India TV News  

Spiralling inflation and unemployment are the biggest problems haunting the people of Pakistan and not the Kashmir issue, according to a survey by Gallup International in all four provinces of the cash-strapped country. The study, which was published by Gallup and Gilani Pakistan on Tuesday, said 53 per cent of respondents believe the country's economy, specifically increasing inflation, is the biggest problem facing the country. Gallup Pakistan said the survey's sample comprised men and women from across the four provinces -- Balochistan, Khyber Pakhtunkhwa, Punjab and Sindh. Pakistan and the IMF signed a USD 6 billion bail out package this year, aimed at returning sustainable growth to the country's fragile economy and improve the standards of living.

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History of this topic

Pakistan blames IMF for record inflation, erosion in purchasing power
1 month ago

Pakistan blames IMF for record inflation, erosion in purchasing power

Firstpost  

Under the IMF programme, Pakistan recorded 840% increase in gas prices, 110% rise in electricity rates, and 43% currency depreciation, according to Finance Minister Muhammad Aurangzeb Cash-strapped Pakistan has turned to the IMF yet again to rescue its ailing economy. Pakistani Finance Minister Muhammad Aurangzeb said on Wednesday that the country recoded 840 per cent increase in gas prices, 110 …

Pakistan's Skilled Workforce Exodus: A Crisis of Economic Indifference
Trending News
2 months, 2 weeks ago

Pakistan's Skilled Workforce Exodus: A Crisis of Economic Indifference

Firstpost  

Pakistan's emigration phenomenon is a major concern, with the country facing a severe brain drain. Skilled workers are leaving the country in search of better opportunities abroad, leading to a significant decline in the country's workforce and economic growth. The country's economic struggles, political instability, and soaring consumer prices have contributed to this exodus. The government needs to address the …

Financial strain grips Pakistan, 74% struggle to make ends meet, 10% doing two jobs: Report
5 months ago

Financial strain grips Pakistan, 74% struggle to make ends meet, 10% doing two jobs: Report

Live Mint  

A new study highlights the deepening economic crisis in Pakistan as financial hardship escalates among urban households. The study, which surveyed over 1,110 respondents across Pakistan's 11 largest cities between July and August, paints a grim picture of the country's economic landscape. However, a report last month revealed that government borrowings in the first 11 months of the outgoing fiscal …

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout
7 months ago

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

Associated Press  

ISLAMABAD — Pakistan’s new coalition government presented its first budget in parliament on Wednesday, promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target while talks with the International Monetary Fund about a new bailout continue. Analysts say the new budget of about $68 billion — up from $50 billion …

With 25% inflation, Pakistan has the highest cost of living in Asia: ADB
9 months ago

With 25% inflation, Pakistan has the highest cost of living in Asia: ADB

The Hindu  

Pakistan has the highest living cost in all of Asia with a 25% inflation rate and its economy may grow at the fourth lowest pace of 1.9% in the region, according to a new Asian Development Bank report. The Manila-based lending agency stated that the inflation rate in Pakistan is expected to be 25% in the current fiscal year -- …

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package
9 months, 3 weeks ago

IMF reaches agreement with Pakistan on releasing last tranche of $3 billion bailout package

India TV News  

Washington: The International Monetary Fund on Wednesday announced that it has reached a staff-level agreement with cash-strapped Pakistan for the release of $1.1 billion tranche, the last of the $3 billion financial bailout package, as the global moneylender noted that Pakistan's inflation was above target and economic growth remained modest, reported the Express Tribune. “The IMF team has reached a …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 5 months ago

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF

India Today  

An assessment from the International Monetary Fund has said that Pakistan's economic challenges were complex and multifaceted and risks were exceptionally high, The Dawn reported. “Resolving Pakistan's structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current programme period,” the Fund said in a report. “A possible successor arrangement could help anchor the policy …

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar
1 year, 6 months ago

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar

The Hindu  

Pakistan has received deposits of $2 billion from Saudi Arabia, Finance Minister Ishaq Dar said on July 11, ahead of a key meeting of the IMF to endorse a loan for the cash-strapped country. “State Bank of Pakistan has received deposit of $2 billion from the Kingdom of Saudi Arabia. Prime Minister Shehbaz Sharif also extended deep gratitude to the …

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting
1 year, 6 months ago

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting

Associated Press  

ISLAMABAD — Saudi Arabia has deposited $2 billion into Pakistan’s central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country. Dar said that with the Saudi deposit, Pakistan’s foreign exchange reserves which dropped to $9.6 billion last week — …

Pakistan inflation eases for the first time in seven months
1 year, 6 months ago

Pakistan inflation eases for the first time in seven months

Al Jazeera  

Government figures show year-on-year inflation at 29.4 percent, compared with a record 38 percent in May. Pakistan’s headline inflation eased for the first time in seven months in June, figures show – a bright spot for a beleaguered government that must call an election this year. Year-on-year inflation was 29.4 percent last month, Pakistan Bureau of Statistics data showed on …

Pakistan inflation hits record for second consecutive month
1 year, 7 months ago

Pakistan inflation hits record for second consecutive month

Al Jazeera  

The country’s year-on-year inflation rises to record 37.97 percent as crucial IMF bailout talks remain in limbo. Pakistan’s annual inflation rate has risen to 37.97 percent in May, the statistics bureau said, setting a national record for the second month in a row. The bureau’s announcement on Thursday worsens the economic crisis in the South Asian country as crucial bailout …

Number theory: Why Pakistan's current account surplus may spell bad news for the economy
1 year, 7 months ago

Number theory: Why Pakistan's current account surplus may spell bad news for the economy

Hindustan Times  

Pakistan recorded a surplus in its current account for the second consecutive month in April, as per the data released by the State Bank of Pakistan on May 17, shrinking the ongoing fiscal year’s current account deficit by a massive 76% to $3.3 billion in July-April compared to the same period last year. See Chart 1: Revisions in IMF projections …

World Bank estimates decline in Pakistan's GDP per capita income to USD 1,399
1 year, 9 months ago

World Bank estimates decline in Pakistan's GDP per capita income to USD 1,399

Hindustan Times  

The World Bank has estimated a drop in GDP per capita income for Pakistan from USD 1,613.8 in 2021-22 to USD 1,399.1 in 2022-23, Business Recorder reported. In its report 'Macro Poverty Outlook for Pakistan: April 2023', the bank noted that GDP per capita growth is estimated at -1.5 per cent in 2022-23 in comparison to 4.2 per cent in …

IMF forecasts Pakistan’s economy to slump, inflation to rise
1 year, 9 months ago

IMF forecasts Pakistan’s economy to slump, inflation to rise

Al Jazeera  

IMF says Pakistan’s economy will grow just 0.5 percent this year, down from 6 percent in 2022. The International Monetary Fund has slashed the growth outlook for cash-strapped Pakistan, forecasting the South Asian country’s fragile economy will grow just 0.5 percent this year, down from 6 percent in 2022. The latest data on Pakistan’s ailing economy was released by the …

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'
1 year, 9 months ago

Pakistan minister announces subsidy plan amid crisis: 'Taking money from rich, giving it to poor'

Hindustan Times  

Pakistan’s Finance Minister Ishaq Dar said plans to implement fuel subsidies have been shared with the International Monetary Fund to help alleviate the lender’s concerns before it revives a stalled $6.5 billion bailout. Read here: Pakistan inflation skyrockets to 47%, wheat and eggs are more expensive: Report “It’s basically about taking money from rich Pakistanis and giving it to poor …

From the India Today archives (2023) | Pakistan's fast emptying coffers
1 year, 9 months ago

From the India Today archives (2023) | Pakistan's fast emptying coffers

India Today  

We have never defaulted in the past and we won't default now," asserted Pakistan's federal minister for finance Ishaq Dar on March 3, looking irritated at the persistent questions journalists were lobbing at him at a press conference. His irritation stemmed from ongoing speculation about the country's crisis-wracked economy; the latest blow dealt by credit ratings agency Moody's, which had …

Pakistan inflation rises by record as IMF reforms spur gains
1 year, 9 months ago

Pakistan inflation rises by record as IMF reforms spur gains

Live Mint  

Pakistan’s inflation quickened by a record on higher taxes and energy prices, suggesting that further interest rate increases may be needed. “This was broadly expected with the persisting higher food prices, and a tax on tobacco has been implemented,” said Amreen Soorani, head of research at JS Global Capital in Karachi. “Consumer prices will go up for a couple of …

Pak inflation skyrockets to 47%, essential prices soar: Report
1 year, 9 months ago

Pak inflation skyrockets to 47%, essential prices soar: Report

Hindustan Times  

Pakistan's economic crisis continues to worsen with each passing day. According to the Pakistan Bureau of Statistics, the inflation based on sensitive price indicator has been recorded at 47 per cent year on year at the week which ended on March 22. The price of onions in Pakistan have increased by 228.28 per cent, cigarettes by 165.88 per cent, wheat …

Pakistan inflation soars to 47%, Onions up 228% and wheat up 120%
1 year, 9 months ago

Pakistan inflation soars to 47%, Onions up 228% and wheat up 120%

Live Mint  

Crisis-hit Pakistan recorded a new high in inflation based on sensitive price indicator as it went to around 47% year on year the week ended March 22, 2023, according to Pakistan Bureau of Statistics data. Items that have recorded a price high are onions, cigarettes, wheat flour, gas charges for Q1, diesel, tea lipton, bananas, rice basmati broken, petrol, eggs, …

US encourages crisis-hit Pakistan to continue working with IMF - here’s why
1 year, 10 months ago

US encourages crisis-hit Pakistan to continue working with IMF - here’s why

Live Mint  

The United States on Thursday urges crisis-hit Pakistan to improve its business environment which would make the South Asian country more attractive and competitive around the world. As per the latest report, the country's external debt rose sharply by 38% to PKR 20.69 trillion by the end of January 2023 as compared to the year-ago period. The pkrevenue report mentioned …

How skyrocketing inflation has hit Pakistan’s most vulnerable
1 year, 10 months ago

How skyrocketing inflation has hit Pakistan’s most vulnerable

Al Jazeera  

With Ramadan approaching, millions of Pakistanis are struggling to put food on the table amid one of country’s worst economic crises. “I am under debt of 200,000 rupees due to her treatment but I must do what I can as a mother to save her.” Much like Bibi, Ghulam Murtaza Abbasi also had to make difficult calls as Pakistan faces …

The fall and fall of Pakistan
1 year, 10 months ago

The fall and fall of Pakistan

New Indian Express  

How it all came tumbling down 1958-68: General Ayub’s non-liberal policies of the capitalist model increases income inequality 1970s: During Zulfiqar Ali Bhutto’s reign, there was a recession in exports, the partition of East Pakistan, the floods of 1974 and locust attacks. His nationalisation policies became the major reason for the loss of industrial units and private investment 1998: Pakistan …

Nothing is cheap, nothing: Pakistan's inflation at 58-year high, a record
1 year, 10 months ago

Nothing is cheap, nothing: Pakistan's inflation at 58-year high, a record

Hindustan Times  

Monthly inflation jumped to 31.6% in February year-on-year, Pakistan Bureau of Statistics said. In February, prices rose at the fastest pace ever in Pakistan's history, data showed which comes as food and transport costs drove up inflation to a point where analysts fear "families will have to make choices and sacrifices," Pakistan's Dawn reported. In February, prices rose 4.3 per …

High taxes, cost-cutting formula: How Pakistan is dealing with economic crisis?
1 year, 10 months ago

High taxes, cost-cutting formula: How Pakistan is dealing with economic crisis?

Live Mint  

Pakistan has been spiraling into a deep economic crisis as the country's rupee is falling down, fuel prices shooting up, and taxes on luxury goods rising. Pakistan's cost-cutting formula Pakistan Prime Minister Shehbaz Sharif has asked his ministers and advisers to fly economy class, forgo luxury cars and their salaries as part of an austerity drive that will save the …

Pakistan taxing its citizens for IMF deal: 7% surge in tax, luxury goods costly
1 year, 10 months ago

Pakistan taxing its citizens for IMF deal: 7% surge in tax, luxury goods costly

Live Mint  

Pakistan is facing an imminent economic meltdown with the country modifying its policies according to the conditions laid down by the International Monetary Fund, in an effort to unlock the tranche of a $6.5 billion loan facility to overcome the financial crisis. Kristalina Georgieva, IMF Managing Director has also emphasized two things that can help Pakistan get away from economic …

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls
1 year, 10 months ago

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls

Live Mint  

Pakistan economic crisis: Several biggest companies in the crisis-hit country have halted operations as they ran out of raw materials or foreign exchange which has compounded the troubles of an economy that's trying to avert a debt default, as per Bloomberg reports. Ghandhara Tyre & Rubber Company, which manufactures tires and tubes for automobiles, shut its plant on February 13, …

Inflation in Pakistan could average 33% in H1 2023, says Moody’s economist
1 year, 11 months ago

Inflation in Pakistan could average 33% in H1 2023, says Moody’s economist

Live Mint  

Inflation in Pakistan could average 33% in the first half of 2023 before trending lower, and a bailout from the International Monetary Fund alone is unlikely to put the economy back on track, a senior economist with Moody's Analytics told Reuters. "Food prices are high and they can't avoid paying for that, so we're going to see higher poverty rates …

Data | Why is Pakistan’s economy collapsing? Explained in charts
1 year, 11 months ago

Data | Why is Pakistan’s economy collapsing? Explained in charts

The Hindu  

Pakistan’s economy is on the brink of collapse. Foreign exchange reserves with the State Bank of Pakistan dipped to $3.08 billion in the week ending January 27, 2023. Chart 3 shows the week-wise foreign exchange reserves held by Pakistan’s central bank. Chart 6 shows financial year-wise Pakistan’s total debt and liabilities in billion PKR. Source: State Bank of Pakistan, Economic …

Global Watch | No bailout package can help Pakistan as it suffers from systemic failure
1 year, 11 months ago

Global Watch | No bailout package can help Pakistan as it suffers from systemic failure

Firstpost  

Three incidents happened recently in Pakistan which shows the extent of failure of Pakistan as a nation-state and the prevailing chaos there. Third, the much awaited visit of the International Monetary Fund team to review Pakistan’s economic policies before offering a bailout package of $1.1 billion took place in early February. In the past 75 years since its formation, Pakistan …

Pakistan inflation rises to 48-year high as IMF visits
1 year, 11 months ago

Pakistan inflation rises to 48-year high as IMF visits

The Hindu  

Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the country's statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55%, the highest since May 1975, with thousands of containers of imports held up at Karachi port. On Tuesday, an IMF …

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt
1 year, 11 months ago

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt

Firstpost  

There is a very real possibility that Pakistan could fall, and fall badly. A mountain of debt – the figures Pakistan’s tumultuous history has seen it hovering on the brink of crisis several times, but this is the first time it’s slipping into possible default. Pakistan is already allotted Rs3.5-Rs3.9 trillion – i.e 4.5 per cent-5.0 per cent of GDP …

World Bank cuts Pakistan’s GDP growth projection to 2 percent
2 years ago

World Bank cuts Pakistan’s GDP growth projection to 2 percent

Al Jazeera  

Islamabad, Pakistan – Predicting a difficult year ahead for Pakistan, the World Bank has revised the country’s growth projections from 4 percent in June last year to 2 percent for the current fiscal year, citing “precarious economic situation, low foreign exchange reserves and large fiscal and current account deficits” among the primary reasons. The bank, in its Global Economic Prospects …

Pakistan registers record inflation, struggles with high prices
2 years ago

Pakistan registers record inflation, struggles with high prices

Firstpost  

Islamabad: The annual inflation of Pakistan measured by the Consumer Price Index was recorded at an unusually high level of 24.5 per cent in December 2022. According to data shared by the Pakistan Bureau of Statistics, inflation in Pakistan rose 0.5 per cent on a month-on-month basis during December 2022, compared to a 0.76 per cent increase in November last …

Pakistan's economy faces severe headwinds with mounting deficits, high inflation
2 years ago

Pakistan's economy faces severe headwinds with mounting deficits, high inflation

The Hindu  

Pakistan’s economic situation is facing "severe headwinds" with inflation being forecast to stay high between 21-23% and the cash-strapped country's fiscal deficit widening by more than 115% in the first four months of the current fiscal year. "This combination of low growth, high inflation and low levels of official foreign exchange reserves are the key challenges for policymakers,” alerted the …

Pakistan inflation hits 47-year high before full impact of flood
2 years, 4 months ago

Pakistan inflation hits 47-year high before full impact of flood

Hindustan Times  

Pakistan’s inflation accelerated for a sixth straight month to hit a fresh record in August, with the deadly floods risk jolting prices further. The inflation print comes as Pakistan faces a looming food crisis after the catastrophic flooding. The inflation print comes as the nation faces a looming food crisis after the catastrophic flooding in the latter part of August …

Our biggest problem is we don’t have enough money to run our country: Pak PM Imran Khan
3 years, 1 month ago

Our biggest problem is we don’t have enough money to run our country: Pak PM Imran Khan

India TV News  

Highlights We don’t have enough money to run country due to which we have to borrow loans, says Pak PM He said due to lack of resources the government had little to spend on the welfare of the masses Khan said rising foreign debts and low tax revenue had become an issue of "national security" Pakistan Prime Minister Imran Khan …

IMF revives $6BN bailout for Pakistan’s economy
3 years, 1 month ago

IMF revives $6BN bailout for Pakistan’s economy

Al Jazeera  

Pakistan and the International Monetary Fund reached a deal after several months of talks to relax the package’s terms and conditions. The International Monetary Fund said on Monday it had agreed with Pakistan on measures needed to revive a stalled $6bn funding programme for the South Asian country, which faces growing economic challenges. “The Pakistani authorities and IMF staff have …

Pakistan PM unveils country’s ‘biggest ever’ welfare programme
3 years, 2 months ago

Pakistan PM unveils country’s ‘biggest ever’ welfare programme

Al Jazeera  

Islamabad, Pakistan – Pakistani Prime Minister Imran Khan unveiled a $709m package of food subsidies to ease the financial burden on low-income households as the prices of essentials continue to soar in the South Asian country. Addressing the nation on Wednesday evening, Khan described the benefits package as “Pakistan’s biggest ever welfare programme”. Pakistani households have been dealing with spiralling …

Almost half of Pakistanis blame Imran Khan govt for inflation: Survey
4 years, 2 months ago

Almost half of Pakistanis blame Imran Khan govt for inflation: Survey

Hindustan Times  

At least 49 per cent of Pakistani people believe that Prime Minister Imran Khan-led government is responsible for inflation in the country, reported Geo News. Geo News reported that only 15 per cent of the respondents said they blamed previous governments for it, a narrative the PTI and Prime Minister Imran Khan have been attempting to establish since day one …

Opinion| Kashmir is not on Pakistani minds
5 years, 2 months ago

Opinion| Kashmir is not on Pakistani minds

Live Mint  

A Pakistan-wide poll by an international agency has revealed what was always suspected. The rift with India over the Kashmir issue, which Pakistan has so desperately sought to internationalize, figures quite low on the list of common Pakistani worries. According to a Gallup International poll, which surveyed Pakistan’s all four provinces, 53% of respondents said the state of the economy, …

Pakistan Facing 'Significant Economic Challenges', Economy At Critical Juncture: IMF
5 years, 6 months ago

Pakistan Facing 'Significant Economic Challenges', Economy At Critical Juncture: IMF

ABP News  

Washington: Pakistan is facing "significant economic challenges" due to a weak and unbalanced growth and that its economy is at a critical juncture where it needs an ambitious and bold set of reforms, the IMF has said. The global lender last week formally approved the USD 6 billion loan to Pakistan, which is facing "significant" economic challenges on the back …

Among Pak PM Imran Khan’s 5 biggest challenges: Trade with India, IMF bailout
6 years, 4 months ago

Among Pak PM Imran Khan’s 5 biggest challenges: Trade with India, IMF bailout

Live Mint  

Islamabad:Pakistan’s new government led by Prime Minister Imran Khan faces myriad challenges. Khan’s likely new finance minister, Asad Umar, has said they will decide by the end of September whether or not to go to the International Monetary Fund for the country’s second bailout in five years. But the US, one of the IMF’s biggest donors, has raised fears Pakistan …

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