IMF dismayed over inflation

By Dr Mahnaz Fatima
In its recent annual analysis of Pakistan’s economy, the IMF executive board expressed disappointment over widespread poverty and high inflation. In addition, it is concerned about the increasing current account and budget deficits, stagnant tax-to-GDP ratio, and the subsidies to the power sector. While the latter set of concerns could be discussed in separate articles, this piece focuses on inflation and poverty. Details

Companies call for 25pc hike in gas prices
ISLAMABAD, Dec 11: Oil and gas companies have asked the government to raise gas production prices by 25 per cent to encourage them to produce higher quantities and reduce dependence on imported fuels, it is learnt. The demand comes at a time when the government estimates it will face major gas shortfalls by 2007-08 at the current rate of domestic production and plans to import gas from Iran, Qatar or Turkmenistan to meet energy shortages. Details