The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on Friday to analyze and study the current economic situation and economic work. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting. It was noted at the meeting that the country has seen its economy improve this year, with public confidence …

BEIJING: China’s annual “two sessions” are being held in Beijing from March 4 to March 11. With a target of hitting 134.9 trillion yuan in 2024, China has set its 2025 GDP growth target at around 5%, announced at the third session of the 14th National People’s Congress when Chinese Premier Li Qiang delivered the government work report on March …

On Feb. 17, Chinese President Xi Jinping attended a symposium on private enterprises and delivered an important speech. He stressed that on the new journey of the new era, the private economy has broad development prospects and immense potential, and it is the perfect time for private companies and entrepreneurs to fully demonstrate their prowess. The international community closely followed …

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Sunday said that the government was committed to building on the hard-earned macro-stability to further strengthen the economy of the country, adding that “prudent economic policies” had led to substantial improvements. Talking to the media in Islamabad on Sunday, he cited recent figures related to decreasing inflation and the surging foreign exchange reserves, saying …

ISLAMABAD: The International Monetary Fund (IMF) has called on Pakistan to reduce state intervention in the economy and strengthen competition, while also stressing the need for urgent energy sector reforms. “Pakistan should take steps to decrease state intervention in the economy and enhance competition, which will help foster the development of a dynamic private sector,” a statement issued by the …

WASHINGTON: Pakistan’s Finance Minister, Muhammad Aurangzeb, announced restrictions on property and vehicle purchases for non-filers, emphasising that difficult economic decisions are necessary for improvement. In a press conference in Washington, Aurangzeb stated that there is a need for legal coverage regarding non-filers, and Pakistan is moving to eliminate the non-filer category altogether. He highlighted ongoing efforts to raise Pakistan’s tax-to-GDP …

WASHINGTON: Pakistan is advancing economic ties with China, Saudi Arabia, and Turkiye, as Federal Finance Minister Muhammad Aurangzeb held high-level discussions on the sidelines of the World Bank-IMF Annual Meetings in Washington DC. The meetings focused on debt reprofiling, trade cooperation, and joint ventures to strengthen Pakistan’s economic prospects. Aurangzeb revealed a “promising response” from China over Pakistan’s request to …

ISLAMABAD: In a historic move towards promoting Islamic finance, Pakistan’s Parliament has unanimously passed the 26th Constitutional Amendment, mandating the complete elimination of Riba (interest) by January 1, 2028. This significant amendment modifies Article 38(f) of the Constitution, marking a key milestone in the country’s efforts to align its financial system with Shariah principles. The amendment follows the April 28, …

KARACHI: Inflows of workers’ remittances from overseas Pakistanis remained robust, reaching $2.85 billion in September 2024. This brought the cumulative remittances to a record $8.8 billion in the first quarter of the fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP). These strong inflows are expected to help stabilise the rupee, maintain foreign exchange reserves, …

ISLAMABAD: Finance Minister Muhammad Aurangzeb announced that the country has seen a “sharper-than-expected drop in inflation”, with the economy moving towards improvement. Speaking at the launch of the Pakistan Economic Dashboard on Wednesday, the finance czar highlighted key economic progress and stressed the need for structural reforms to ensure sustainable stability. During his address, the minister noted that inflation has …