ISLAMABAD : When Pakistan's annual inflation rate hit 11.5per cent in November, the statistics office put a number on a phenomenon that was already painfully clear to the poor and the salaried middle-class voters who carried Prime Minister Imran Khan to power three years ago.
As consumer price inflation has accelerated into double digits, with staples like flour, sugar, oil and rice doubling in price over recent months, the Pakistani rupee has fallen around 14per cent since May to reach a historic low. The IMF agreed last month to revive a stalled US$6 billion funding programme launched in 2019 but demanded further fiscal measures as part of a broader structural reforms package covering areas from the power sector debt to corporate governance, climate change and trade policy.
"Prudent fiscal reforms have helped in improving the tax-to-GDP ratio and improving revenue generation," Finance Adviser Shaukat Tarin told a conference last week.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Bank Indonesia to hold rates in Dec but head higher in Q3: Reuters pollBENGALURU : Bank Indonesia is certain to hold interest rates steady on Thursday as inflation remains benign for now, according to economists in a Reuters poll who have brought forward their expectations for a first hike to the third quarter of 2022.Indonesia's central bank announced in November it would k
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China brands US democracy 'weapon of mass destruction'China branded US democracy a 'weapon of mass destruction' on Saturday, following the US-organised Summit for Democracy which aimed to shore up like-minded allies in the face of autocratic regimes.
Source: YahooSG - 🏆 3. / 71 Read more »
UK's Johnson accused of breaching own COVID-19 rulesLONDON: Boris Johnson on Sunday (Dec 12) faced fresh questions about alleged government breaches of coronavirus restrictions after a photo emerged of him at a Christmas event last year. The British prime minister has faced a barrage of criticism and calls to quit over claims of an
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
G7 warns Russia of 'massive consequences' if Ukraine is attackedLIVERPOOL, England: Russia faces massive consequences and severe costs if President Vladimir Putin attacks Ukraine, the Group of Seven warned in a statement on Sunday (Dec 12). US intelligence assesses that Russia could be planning a multi-front offensive on Ukraine as early as next year, involving up to 1 G7, arrogant, bullying, outdated, club of bullies.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Canada to drop 3rd-country COVID-19 test rule for residents returning from southern African nationsTORONTO: Canada will start recognising molecular COVID-19 tests conducted at an accredited lab in South Africa for residents returning home, dropping a heavily criticised travel restriction introduced to prevent the spread of the Omicron variant. Ottawa had faced pressure from doctors, stranded passengers 南非爆發奧密克戎病毒都沒過死人，而且很多人感染了奧密克戎病毒三天后就康復了。
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »