Sunday, July 7th, 2024
Structural Adjustment Programs: Impact on Pakistan’s Economy
By: Muhtasim Afridi The International Monetary Fund (IMF) serves as the backbone for underdeveloped economies around the globe. In times of recession, the international lender provides financial support in the form of loans or bailout packages to help countries stand on their feet. However, when any state seeks an IMF loan, it must adhere to given reforms called structural adjustment programs. Similarly, when the government of Pakistan visits the IMF for a loan, the ruling party has to agree on certain conditions to get it approved. But in that wayRead More
Anjum Nisar says more hike in energy tariff to hit trade and industry hard
ISLAMABAD, JUL 7: /DNA/ – The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has asked the government to give priority to the economic recovery, emphasizing the necessity of joint efforts to tackle Pakistan’s economic difficulties, as economy is expected to grow by 1.9 percent in the current fiscal year. Businessmen Panel (BMP) Chairman Mian Anjum Nisar warned that inflation would remain elevated at about 25 percent during the same period before easing a bit in the next financial year. He said that the country has beenRead More
Ambassador Blome celebrates US, Pakistan partnership in Punjab
Lahore, JUL 7: U.S. Ambassador Donald A. Blome, accompanied by U.S. Consul General Lahore Kristin K. Hawkins, celebrated the 248th anniversary of U.S. independence during his visit to Lahore. The July 5 event, attended by a wide range of government, business, and civil society representatives, highlighted key areas of partnership between the United States and Pakistan, including a robust trade and investment relationship, innovative collaboration through the U.S.-Pakistan “Green Alliance” framework on climate challenges, extensive people-to-people ties, and more. In his remarks, Ambassador Blome noted, “The United States will remainRead More
Heartache and pride as Swiss Euros dream dies
GENEVA, (AFP/APP): Switzerland’s President Viola Amherd voiced pride in the country’s football team after they were agonisingly knocked out of Euro 2024 on penalties in the quarter-finals by England on Saturday. It was the second time in a row that Switzerland had gone out on penalties in the last eight — the furthest they have ever gone in the tournament — having succumbed to Spain from the penalty spot in Euro 2020. This time they drew 1-1 with England, having taken the lead in the 75th minute only to beRead More
Flight cancellations; fragile ecology eclipsing beauty of Gilgit-Baltistan
Australian High Commissioner to Pakistan Neil Hawkins called for the development of budget-friendly accommodations in the area Ansar M Bhatti ISLAMABAD: Australian High Commissioner to Pakistan Neil Hawkins highlighted that uninterrupted flights to Gilgit-Baltistan could significantly boost tourism in the region. He noted that Gilgit-Baltistan is blessed with natural beauty, making it a must-visit destination for both local and international tourists. Hawkins made these remarks during the launch event of “Reverie of Highlands” by Gaynor Shaw at the Islamabad Serena Hotel. Gaynor Shaw, wife of former Australian High Commissioner toRead More