Author: S.M. Inam

By S.M. Inam KARACHI: The International Monetary Fund (IMF) is in discussions with Pakistani authorities over proposed electricity tariff revisions, stressing that the burden should not fall on middle- or lower-income households. “The ongoing discussions with the authorities will assess whether the proposed tariff revisions are consistent with these commitments and evaluate their potential impact on macroeconomic stability, including inflation,” the Fund said on Saturday. The federal government recently announced a proposed overhaul of electricity tariffs, a move analysts warn could lift inflation while easing pressure on industry. The changes form part of Pakistan’s obligations under its $7 billion Extended…

By S.M. Inam ISLAMABAD: Federal Finance Minister Mohammad Aurangzeb has said that the government cannot provide employment for Pakistan’s population of 250 million, stressing that job creation is the responsibility of the private sector. Speaking at the FPCCI in Lahore, Aurangzeb said the government’s focus was on digitalizing the economy to increase transparency and broaden the tax base. “The salaried class pays more tax and must be given relief,” he said, underlining the importance of easing pressure on income earners. He highlighted ongoing work in the construction sector, noting efforts to separate real estate from construction for regulatory clarity while…

By S.M. Inam KARACHI: The Sindh Institute of Cardiovascular Diseases (SICVD) has emerged as a flagship initiative of the provincial government, expanding over 17 years into 11 hospitals and 30 Chest Pain Units across the province, and earning recognition as the world’s largest primary cardiac stenting program. Officials said that all services under the program are provided free of charge, making advanced cardiac care accessible to patients regardless of financial means. SICVD’s Karachi facility, a cornerstone of the network, treated nearly 200,000 patients from across Pakistan in 2025 alone, underscoring its pivotal role in delivering critical healthcare services at no…

Aurangzeb hailed the IFC and ADB for their enduring support of Pakistan’s development, emphasizing their transformative role in bolstering local currency markets and catalyzing private sector growth By S.M. Inam ISLAMABAD: Islamabad witnessed a significant policy dialogue on Wednesday as Finance Minister Muhammad Aurangzeb convened with a high-level delegation of international investors, signaling Pakistan’s renewed commitment to private sector-led economic growth and structural reforms. The meeting brought together representatives from the International Finance Corporation (IFC), British International Investment, the Asian Development Bank (ADB), and Baltoro Capital, highlighting the government’s intent to deepen engagement with global financial partners. During the discussions,…

Central Bank Governor Jameel Ahmad warned that inflation is set to peak by mid-year, emphasizing a policy approach focused on medium-term economic stability By S.M. Inam KARACHI: State Bank of Pakistan Governor Jameel Ahmad expects the economy to grow by as much as 4.75% this fiscal year, pushing back against a recent downgrade by the International Monetary Fund. In written responses to Reuters, Ahmad argued that the recovery is broader and more durable than headline export data suggest. The central bank raised its FY26 growth forecast to 3.75–4.75% at its January meeting, 0.5 percentage points higher than the previous range,…

Pakistan’s remittances surge to $23.2bn in seven months, signaling a robust 11.3pc growth that underscores the resilience of its diaspora-driven economy By S.M. Inam ISLAMABAD: Pakistani workers’ remittances climbed sharply to $3.5 billion in January 2026, marking a 15.4 percent year-on-year increase, according to figures released by the State Bank of Pakistan (SBP). On a cumulative basis, remittances reached $23.2 billion during the first seven months of the ongoing fiscal year (July–January FY26). This reflected an 11.3 percent rise compared with $20.9 billion received in the same period last year. The central bank said inflows in January were primarily sourced…

By S.M. Inam ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif expressed satisfaction on Monday after international ratings agency Moody’s affirmed Pakistan’s banking sector as “stable,” describing the assessment as a sign of progress in the country’s economic trajectory. The Prime Minister highlighted that the latest rating reflects the government’s broader efforts to steer the economy towards stability and growth amid ongoing financial challenges. He praised the work of economic team, noting that their continuous efforts to implement reforms and manage fiscal and monetary policies had contributed to a more resilient financial sector. “Reports and ratings by international institutions are a testament…

By S.M. Inam ISLAMABAD: Pakistan faces a mounting employment crisis, with the World Bank warning that the country must generate 30 million new jobs over the next decade to keep pace with its rapidly growing population. World Bank president Ajay Banga spoke to an international news agency, highlighting the urgency of the challenge and the potential social consequences of inaction. Banga said Pakistan would need to create between 2.5 and 3 million new jobs annually to absorb its expanding workforce. “Failure to provide sufficient employment opportunities for the youth could fuel rising unemployment, social unrest, and migration pressures,” he cautioned,…

By S.M. Inam ISLAMABAD: Uzbekistan’s President, Shavkat Mirziyoyev, described Pakistan as a “close friend and trusted partner,” underscoring the two countries’ shared commitment to advancing cooperation on regional and global issues. His remarks came during a ceremony marking the signing of several bilateral agreements, which also celebrated the deepening of diplomatic, educational, and economic ties between Islamabad and Tashkent. President Mirziyoyev expressed gratitude to Prime Minister Shehbaz Sharif for the warm welcome extended to him and his delegation, noting that the occasion was particularly memorable as he was conferred the Nishan-e-Pakistan, along with an honorary doctorate and professorship. “Receiving these…

By S.M. Inam KARACHI: Pakistan’s central bank has assured that a $2 billion rollover from the United Arab Emirates poses no risk to the economy, State Bank Governor Jameel Ahmad said on Friday. He added that dollar deposits from friendly countries will continue to roll over until September 2027. Speaking to senior journalists at the SBP headquarters, Ahmad highlighted that Pakistan has already paid $6 billion in external debt and interest this year. Arrangements are in place for another $4.5 billion for the remaining months. The governor emphasized strict action against dollar laundering and smuggling. “We have shut down 140…