General Economic Updates

[Fatman17]

Pakistan engulfed in world’s ‘deadliest debt trap’, says former SBP governor https://www.brecorder.com/news/40310444

 

[Fatman17]

Editorial: The tax-heavy budget for the next fiscal year approved by parliament on Friday will make the life of average Pakistanis even harder and further deepen the trust deficit between the ruled and the rulers as it imposes an array of additional taxes that will directly hit low- to moderate-income households.

Read the full editorial here: https://www.dawn.com/news/1842785

 

[Fatman17]

ECNEC postpones $6.7b ML-I project https://tribune.com.pk/story/2475231/ecnec-postpones-67b-ml-i-project

China refused to give funds for the project

 

[Forsvaret]

ECNEC postpones $6.7b ML-I project https://tribune.com.pk/story/2475231/ecnec-postpones-67b-ml-i-project

China refused to give funds for the project

@FOOLS_NIGHTMARE @Tameem @Pakistan Space Agency @ziaulislam @RescueRanger @Respect4Respect @PakFactor @Asfandyar Bhittani
CPEC is “progressing” under the cult of Hazrat Asim Muneer and his selected Showbaz Sharif

 

[Fatman17]

Budget makes it difficult to live, expensive to leave https://tribune.com.pk/story/2475046/budget-makes-it-difficult-to-live-expensive-to-leave

 

[Fatman17]

Expected new fixed charges on electricity bills in Pakistan from July 2024 https://pakobserver.net/expected-new-fixed-charges-on-electricity-bills-in-pakistan-from-july-2024/

 

[PakFactor]

Expected new fixed charges on electricity bills in Pakistan from July 2024 https://pakobserver.net/expected-new-fixed-charges-on-electricity-bills-in-pakistan-from-july-2024/
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‘Do more’: IMF says budget approval ‘not enough’​

ISLAMABAD: The International Monetary Fund (IMF) on Saturday termed budget 2024-25 approval as not enough and demanded Pakistan to do more.

The National Assembly has approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion.

According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs.

The IMF also demanded the removal of tax exemptions and subsidies, terming them essential for the country’s economic recovery, sources added.

However, the IMF has lauded the government’s tough economic decisions in the budget, including the reduction of tax exemptions and subsidies, sources said.

Furthermore, the IMF delegation’s visit to Pakistan in the last week of June has been postponed, the team is likely to visit in the second week of July, sources added.

‘Do more’: IMF says budget approval ‘not enough’

ISLAMABAD: The International Monetary Fund (IMF) on Saturday termed budget 2024-25 approval as not enough and...

www.brecorder.com

@Forsvaret

 

[Fatman17]

Budget 2024-25: Protecting ‘sacred cows’ again https://www.dawn.com/news/1843122

 

[Fatman17]

ECONOMIC BUTCHERY

PAKISTAN is teetering on the edge of economic collapse due to its persistent struggle to increase the tax-to-GDP ratio, a crucial measure of its fiscal health.

Despite numerous efforts, many potential taxpayers remain outside the formal tax net. Recent policies have unfairly targeted existing taxpayers, driving talent and capital away and pushing the nation towards disaster. The recent passage of the Finance Act exemplifies this flawed strategy, threatening long-term economic stability.
DAWN

 

[Fatman17]

Govt misses annual inflation target​

Inflation stands at 23.4% in FY24, higher than 21% goal, despite choking economy.

 

[Pradotlc]

So as expected all gloom and doom news..

 

[Fatman17]

So as expected all gloom and doom news..

Unfortunately and getting worse

 

[Fatman17]

Tax the people and Spy on the people

 

[Fatman17]

Editorial: Pakistan’s continued economic isolation stems from reliance on the West for trade and aid.

Read the full editorial: https://www.dawn.com/news/1843891

 

[PakFactor]

@Fatman17 @Forsvaret

Karachi-based textile unit announces closure

KARACHI: In the throes of Pakistan’s worst economic crisis, a Karachi-based textile unit has announced to lock its...

www.brecorder.com

* Used to make Denim Jeans for foreign markets.
* Laying off workers



The next reckoning is going to happen in the Pharma sector.

Still, the main issue is that there are no structural reforms or transparency across all institutions. Rather, the executive branch has been carving up legislation to the whims of other departments, giving preferential treatment.