Pakistan and Turkey have reaffirmed their commitment to significantly enhance their trade relations, aiming for a $5 billion trade volume. This ambitious target was shared during a Joint Press Stakeout held in Islamabad, where Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan addressed the media. Strengthening Economic Ties Between Pakistan and Turkey During…
As of January 31, 2025, the total inflows through the Roshan Digital Account (RDA) reached an impressive $9.564 billion. The majority of this amount has been used within Pakistan. Domestic Utilization of RDA Funds Out of the total inflows, $6.052 billion was spent within Pakistan. Meanwhile, $1.711 billion was repatriated back abroad. After these transactions,…
Pakistan’s reliance on foreign shipping companies has been a heavy burden on the country’s economy. According to recent reports, Pakistan spends an estimated $6-8 billion annually on freight charges due to this dependence. The country’s sole national shipping line, the Pakistan National Shipping Corporation (PNSC), lacks a single cargo container ship, exacerbating the financial strain….
A high-level delegation from the International Monetary Fund (IMF) recently visited Pakistan to review the country’s governance reforms and transparency measures. The visit is part of the IMF Governance and Corruption Diagnostic Assessment (GCDA), aimed at evaluating the effectiveness of Pakistan’s anti-corruption mechanisms and public sector accountability. Engagement with the Auditor General of Pakistan (AGP)…
Pakistan’s ranking on the Corruption Perception Index (CPI) for 2024 has slipped by two spots, falling from 133rd place in 2023 to 135th place out of 180 countries. This report, released by Transparency International on Tuesday, sheds light on the ongoing challenges of corruption in the country. It also highlights global corruption trends that are…
The IMF is currently in Pakistan to assess the country’s judicial and regulatory systems. This review is part of the ongoing $7 billion Extended Fund Facility (EFF). The mission focuses on governance and corruption vulnerabilities in Pakistan. Key Areas of Review The IMF is examining six key governance sectors: These areas are crucial for improving…
The Pakistani government has recently announced the removal of a facility that previously allowed the families of deceased civil servants to be appointed to government jobs. This policy change follows a ruling by the Supreme Court, which declared the practice unconstitutional and discriminatory. While the new policy applies to most civil servants, there are exceptions…
The federal government is considering withdrawing the Federal Excise Duty (FED) on property transfers under the Finance Act 2024 due to low revenue collection in the first half of the fiscal year. This move may be implemented in the budget for 2025-26. Reason for Withdrawal Low Revenue Collected in FY FED not generating sufficient revenue…
The Special Investment Facilitation Council (SIFC) is working towards stabilizing Pakistan’s economy by promoting sustainable development in the energy sector. SIFC aims to boost economic growth by focusing on utilizing local resources for energy production. SIFC’s Focus Goal Sustainable Growth Promoting long-term energy solutions Local Resources Using domestic resources for energy Oil and Gas Production…
Pakistan is working hard to bring back economic stability, says the global credit rating agency Fitch. The country is focused on rebuilding its financial reserves, which will help stabilize the economy and strengthen its position in the global market. Key Goals of Pakistan Economic Recovery Goal Description Economic Stability Work on long-term financial stability Rebuilding…
