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Fitch forecasts the establishment of a technocratic government in Pakistan in the event of the removal of the PML-N administration.

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The rating agency’s report on Pakistan forecasts that the coalition government led by PML-N would continue to hold power for the next 18 months, without any urgent intentions of conducting new elections.

The current administration will persist in executing the measures stipulated by the International Monetary Fund (IMF) to facilitate economic expansion.

Nevertheless, Fitch indicated that the political turmoil might potentially disrupt the economic operations in Pakistan, in addition to the consequences of climate change such as floods and droughts.

Based on the assessment of the rating agency, it is improbable that former prime minister Imran Khan will be released from jail in the immediate future, despite receiving some respite in some cases.

The agency forecasted that the upcoming general elections in Pakistan will take place in 2029.

Pakistan’s current account deficit is forecasted to stay at 1% in FY2024/25 on the economic front.

According to the Fitch assessment, it is anticipated that the State Bank of Pakistan (SBP) may decrease its primary policy rate from 22% to 16% in 2024.

Moody’s recently stated that Pakistan’s new staff-level deal with the International Monetary Fund (IMF) will enhance funding opportunities for the financially struggling South Asian country.

The administration led by Shehbaz Sharif and the International Monetary Fund (IMF) have successfully negotiated a three-year, $7 billion aid package agreement on Saturday, which will bring significant relief to the nation. This deal signifies a crucial milestone in the process of stabilizing Pakistan’s economy, which has been experiencing significant pressure.

Moody’s stated that the new IMF program would improve Pakistan’s (Caa3 stable) chances of obtaining funding. Moody’s has warned that Pakistan’s capacity to maintain reform implementation is vital for the country to consistently access financing for the whole term of the IMF program. This would help to reduce long-lasting liquidity issues for the government.

Moody’s also recognized possible difficulties, stating that societal tensions resulting from the expensive cost of living could hinder the execution of reforms, particularly in relation to increased taxes and future changes to energy rates.

“Furthermore, the agency added that there are concerns about the coalition government lacking a strong enough electoral mandate to consistently carry out challenging reforms.”

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COAS Visits Bannu and Promises Terrorism Justice

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Syed Asim Munir, the Chief of Army Staff, traveled to Bannu after the March 4 terrorist attack on Bannu cantonment was thwarted.
COAS examined the general security situation in the region as well as ongoing security operations during the visit.
At CMH Bannu, he also spoke with wounded soldiers and praised their tenacity and commitment. Speaking to the troops, he reaffirmed the Pakistan Army’s commitment to combating terrorism and commended their prompt action in neutralizing the assailants.
In addition to expressing sympathy to the families of the civilians slain in the strike, General Munir promised that those responsible for the planning and execution would shortly face consequences.
He emphasized that such activities reveal Khwarij’s true nature as enemies of Islam and denounced the savage targeting of innocent people.
The COAS underlined that Pakistan will not permit its stability to be jeopardized and that terrorist organizations, such as Fitna al-Khawarij, continue to use foreign weapons while operating from Afghan territory.
When he arrived, Corps Commander Peshawar welcomed him.

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Ethiopia-Pakistan Relations: Ethiopian Ambassador Presents Fraternity Award to Khawaja Asif

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Khawaja Muhammad Asif, the minister of defense and aviation, received the “Ethiopia-Pakistan fraternity award” from Ethiopian Ambassador Dr. Jemal Beker.
In appreciation of Khawaja Asif’s noteworthy contributions to enhancing Pakistan-Ethiopia bilateral ties, the award was given out.
The Ethiopian Envoy, who spoke at the event, praised the Minister’s work to strengthen the two countries’ diplomatic and economic relations.
The Ethiopian Ambassador said, “Khawaja Muhammad Asif has played a pivotal role in enhancing Ethiopia-Pakistan relations.”
Additionally, he recognized the minister’s pivotal involvement in Ethiopian Airlines’ establishment in Pakistan, which has strengthened connections between the two nations.
In addition to thanking Ethiopia and its ambassador for the honor, Khawaja Asif reaffirmed Pakistan’s commitment to developing closer ties with Ethiopia.
The Ethiopian Ambassador emphasized that Pakistan and Ethiopia had better bilateral ties than before.

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Issues Affecting Pakistan’s Textile Mills Industry: The Government Is Determined To Address Textile Industry Concerns: FM

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Muhammad Aurangzeb, minister of finance, has stated that the government is firmly committed to helping the textile industry in every way possible.
He made this pledge today in Islamabad during a meeting with the All Pakistan Textile Mills Association’s leadership.
In order to guarantee the long-term sustainability and future expansion of Pakistan’s industrial sector, the Minister also reaffirmed the government’s commitment to addressing important tax, energy, and funding challenges.
He welcomed the APTMA office-bearers and gave the delegation his word that the government is committed to resolving the issues facing the textile industry since it understands how important it is to Pakistan’s economy.
Muhammad Aurangzeb underlined that resolving the fundamental issues facing the sector is essential to establishing an atmosphere that is favorable for industrial expansion, promoting economic stability, and bolstering the country’s overall growth trajectory.

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