August 20, 2026
Total US public debt outstanding reached $40.047 trillion, the Treasury said, more than double the $19.95 trillion when Donald Trump first took office in January 2017. Budget watchdogs warn of a brewing fiscal crisis.
Trade between the two nations has declined from $11.2 million in 2022-23 to $5.18 million in 2024-25. Leghari stressed the need to reverse this trend.. photo: file KARACHI: The debate on the economic structure and its implications for the balance of payments crisis has become increasingly widespread as imports begin to rise, subsequently leading to a higher trade deficit. Policy makers often start to panic as calls are made to limit imports. Several key studies on the subject have pointed to low productivity, the inability to accumulate knowledge and build the necessary human capital, and most importantly, the failure to
This handout photo provided by the Royal Palace of Saudi Arabia shows Saudi Crown Prince Mohammed bin Salman signing the state budget during a cabinet meeting in the capital Riyadh on December 7, 2022. — AFP 2026 budget projects deficit of 165 billion riyals. Saudi Arabia halfway through its Vision 2030 strategy. The next phase of the Vision 2030 plan will emphasize implementation. Saudi Arabia approved its 2026 state budget on Tuesday, forecasting a narrower fiscal deficit as it shifts spending to priority sectors such as industry and logistics in a push to boost non-oil revenue. The kingdom projected a
The Pakistan Stock Exchange (PSX) witnessed a volatile session on Tuesday, with the benchmark KSE-100 struggling to hold on to early gains amid renewed macroeconomic concerns. The market opened on a positive note, briefly touching an intraday high of 169,289.20, but momentum stalled as the session progressed. Profitability in the last few hours pushed the index into the red. By the close, the KSE-100 had slipped to 167,642.28 points, down 419.92 points or 0.25%. The index also hit an intraday low of 167,445.93, reflecting persistent nervousness and reactive trading behavior. Reading: The PSX sets a positive tone for December with
A representative image showing the FBR logo. — FBR Website/File FBR top brass are hoping to cross Rs 900 billion in November. The net collection of the tax authority in November is 0.892 trillion. Achieving the annual target of Rs 14,130 billion seems impossible. Islamabad: The Federal Bureau of Revenue (FBR) is facing a shortfall of Rs 143 billion to meet the desired target for November with subdued economic activities, closure of industrial units and hike in tax rates doubling the revenue shortfall. The News reported on Sunday. FBR top brass are hopeful that revenue collection can cross the Rs
Islamabad: As the fiscal deficit widens to Rs 428 billion in five months, the International Monetary Fund (IMF) has expressed concern over hiring a new management at the Federal Board of Revenue’s (FBR) data arm and outsourcing its core functions without first developing a conflict of interest policy. The observations made by the IMF in its Governance and Corruption Diagnostic Assessment on Pakistan Revenue Automation Limited (PRAL) confirmed a February story by The Express Tribune that had highlighted these lapses. “Although legally required, a code of conduct and conflict of interest policy have not been developed,” said the IMF report
Indonesia, Malaysia and Philippines drive fastest import growth as Islamabad pushes for FTAs to balance trade Islamabad: Pakistan’s trade volume with the Association of Southeast Asian Nations (ASEAN) has reached $11.5 billion in 2024, a figure officials say remains below potential and requires streamlining. Despite the firm commitment, the trade deficit in 2025 continues to widen in favor of ASEAN members. Pakistan’s exports to ASEAN were about $3.5 billion in 2024, while imports reached about $8 billion. Most of this trade is concentrated in five core ASEAN economies: Indonesia, Malaysia, Thailand, Vietnam and the Philippines. Islamabad is pursuing multiple trade
Rising imports of industrial inputs signal economic revival, not downturn, as Pakistan embarks on tariff reform Islamabad: Every month, when the Pakistan Bureau of Statistics (PBS) releases its trade data, one number grabs the headlines: the trade deficit, or the gap between imports and exports. The latest figures, showing a 38% increase in the first quarter of the financial year, were no exception. Predictably, critics of trade reform have been quick to argue that Pakistan’s import liberalization is leading the country to economic ruin. Some are even calling the tariff reform a “suicide mission.” Their solution is predictable: a return
An undated image of the Federal Board of Revenue (FBR) building in Islamabad. — APP/File Rs 3.840 trillion raised against a target of Rs 4.109 trillion in FY26. IMF emergency taxes planned for January. 5.9 million tax returns were submitted, up 17.6%. ISLAMABAD: The Federal Board of Revenue (FBR) missed its October target, collecting Rs950 billion against a target of Rs1,026 billion, a shortfall of Rs76 billion that pushed the four-month (July-October) gap to Rs274 billion. The News reported on Saturday. Provisional data showed the first-quarter deficit of Rs198 billion widened by Rs76 billion in October. FBR chairman Rashid Mahmood
A representation picture shows a general view of the Karachi port. – AFP/file A deficit for the stress of foreign stocks, the volatility of fuel rupees, the special points. They say that the commercial gap of goods emphasizes the structural weakness of exports. Warden that the deficit can derail stabilization profits in the IMF program. Islamabad: Pakistan’s trade deficit reached 46% in September 2025 at $ 3.34 billion, official figures showed on Thursday, as imports increased and exports declined, increasing pressure on the country’s fragile overseas sector The news reported on Friday. The deficit, from $ 2.29 billion in September
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October 26, 2026
The Pakistan Daily
October 26, 2026
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