ISLAMABAD, March 27: Prime Minister Shehbaz Sharif has stressed the need for Pakistan to end its reliance on the International Monetary Fund (IMF), asserting that while IMF programs help stabilize economies, they do not lead to long-term prosperity. Speaking at the launch of the Prime Minister’s Digital Youth Hub in Islamabad on Thursday, he highlighted the country’s mounting debt over the past 77 years and expressed hope that the current IMF program would be Pakistan’s last. IMF Agreement and Loan Disbursement His remarks followed the announcement that Pakistan and the IMF have reached a Staff-Level Agreement (SLA) for the first review…
Author: Ahmad Mukhtar
ISLMABAD, March 27: The world’s renewable energy capacity experienced significant growth in 2024, reaching 4,448 gigawatts (GW), with solar energy leading the expansion, contributing 1,865GW. According to the Renewable Capacity Statistics 2025 report by the International Renewable Energy Agency (IRENA), the global addition of 585GW in 2024 accounted for an impressive 92.5% of total power capacity expansion, marking a record 15.1% annual growth rate. Renewable Expansion and Future Targets Despite the remarkable progress, renewable energy deployment remains short of the 11.2 terawatts (TW) required to meet the global goal of tripling installed renewable capacity by 2030. To stay on track, capacity…
Islamabad, March 27: Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement (SLA) under the Extended Fund Facility (EFF), paving the way for a $1 billion disbursement. Additionally, the country has secured $1.3 billion under the Resilience and Sustainability Facility (RSF) for climate resilience. The agreement, pending approval by the IMF’s Executive Board, will bring total IMF disbursements for Pakistan to approximately $1.3 billion. Key Economic Reforms and Policy Changes As part of the agreement, Pakistan has committed to introducing several economic reforms, including a new carbon levy, reductions in electricity tariffs, adjustments in water pricing, and a…
Islamabad, March 26: Punjab Education Foundation is offering Job Opportunity for over 113 staff across Punjab with a pay of over Rs 60,000 per month. Punjab Education Foundation (PEF) is an autonomous body of School Education Department, Government of the Punjab, which is imparting free education to around 3 million children across the Province. PEF seeks ambitious and experienced persons for the Monitoring & Evaluation Officers (MEOS) position: Selection Criteria is that the age limit is 30-35 years of age, minimum qualification is around graduation (14 years of education). There are 66 from civil side and 47 posts for the…
Islamabad, March 26: Pakistan’s gross domestic product (GDP) recorded a growth of 1.73% in the second quarter (October-December) of fiscal year 2024-25, according to estimates released by the Pakistan Bureau of Statistics (PBS) on Tuesday. Despite a contraction of 0.18% in the industrial sector during this period, the overall economy expanded, driven by growth in the agriculture and services sectors, which posted increases of 1.1% and 2.57%, respectively, as per a press release issued following the National Accounts Committee (NAC) meeting. The NAC also approved a revised GDP growth estimate for the first quarter of FY2023-24, adjusting it from the…
Lahore, March 26: The Punjab Government has advertised the jobs of Lady Constable Jobs of Excise Taxation and Narcotics Control Department. The details of the job requirements are listed below. The jobs are for the Divisions of Punjab are Lahore, Faisalabad, Gujranwala, Sargodha, Sahiwal, Multan, Bahawalpoor, Dera Ghazi Khan, Rawalpindi and Gujarat. Divisions of Candidates For Division Lahore, applicants can come from Lahore, Sheikhupura, Kasoor and Nankana Saheb. For Faisalabad Division, applicants can come from Districts Faisalabad, Chiniot, Jhang, and Toba Tek Singh, and from Division Gujranwala, Districts are Gujranwala, Narowal and Sialkot. For Division Sargodha, Districts are Sargodha, Khushab,…
Islamabad, March 26: The National Assembly Standing Committee on Commerce on Tuesday expressed concerns over the backlog of more than 1,000 containers at the ports due to modifications in the Export Facilitation Scheme (EFS) and urged authorities to resolve the issue swiftly. During the committee meeting, chaired by MNA Muhammad Jawed Hanif Khan, members also suggested extending the tenure of elected representatives of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on a one-time basis. A key issue discussed was a statutory regulatory order (SRO) issued by the Federal Board of Revenue (FBR) on February 25, which removed…
Islamabad, March 26: The Cabinet Committee on Privatisation (CCoP), chaired by Deputy Prime Minister and Finance Minister Ishaq Dar, has approved the divestment of 51% to 100% share capital of Pakistan International Airlines Corporation Limited (PIACL), along with management control. The equity stake may consist of a combination of shares held by PIA Holding Company and subscription shares, or either individually. The International Monetary Fund (IMF) has given its conditional approval for this crucial step. On February 6, 2024, the Federal Cabinet sanctioned the transaction structure report, confirming the strategy to divest 51% to 100% of PIACL shares along with management…
Islamabad, March 26: Pakistan and China are currently engaged in discussions regarding security measures to protect Chinese nationals working in Pakistan, according to Islamabad’s ambassador to Beijing. Ambassador Khalil Hashmi, speaking on the sidelines of the Boao Forum in Hainan, China, stated that these talks are still ongoing and are considered a work in progress. He emphasized that ensuring the safety of Chinese citizens is Pakistan’s “national responsibility” and that the country is committed to doing everything possible to address the issue. “We work very closely with China in terms of information sharing and developing standard operating procedures to ensure…
ISLAMABAD, March 26: The European Union is set to deepen its economic ties with Pakistan, as EU Ambassador Dr. Riina Kionka highlighted that European companies are increasingly recognizing Pakistan as a potential business destination. The ambassador’s comments come ahead of the upcoming Business Forum, scheduled for May 14-15 in Islamabad. This landmark event, supported by the EU, its member states, and the Government of Pakistan, aims to foster dialogue, empower partnerships, and unlock new business opportunities in both regions. Prime Minister Shehbaz Sharif is expected to inaugurate the forum. Dr. Kionka emphasized that European companies are acknowledging Pakistan’s growing potential,…
