Business
Pakistan sets three-year economic plan targeting 5.7% growth | The Express Tribune
For current financial year, goods exports estimate $35.28bn, services exports project $8.38bn
The federal government has set ambitious economic targets for the next three years, aiming to raise the GDP growth rate to between 4.2% and 5.7%. Other targets include increasing the size of the national economy to Rs162,513 billion, boosting exports by more than $10 billion, and increasing remittances to a record $44.82 billion.
According to the three-year Macroeconomic and Fiscal Framework issued by the Ministry of Finance, significant growth is expected in exports, remittances, tax revenue, and the overall size of the economy.
The report projects that Pakistan’s exports will rise from $44.83 billion to $55 billion over the next three years — an increase of more than $10 billion. Exports of goods are forecast to reach $42.69 billion, while exports of services, including information technology, are estimated at $12.24 billion.
Read: Pakistan likely to get $1.2b IMF tranche
For the current financial year, the export of goods is estimated at $35.28 billion, with services exports projected at $8.38 billion. Imports are expected to rise by $14.5 billion, reaching $79.71 billion. Remittances are projected to hit a record $44.82 billion in three years, compared with $39.43 billion expected during the current fiscal year.
The International Monetary Fund (IMF) has projected Pakistan’s economic growth rate at 3.6% for the current fiscal year.
Contrary to the forecast of 3.6% economic growth, sources have said that during last week’s inconclusive discussions, the IMF staff had projected 3% to 3.5% growth. They said that the IMF’s view was that the recent floods have weighed on the economic outlook, particularly for the agriculture sector, given the damage to major Kharif crops.
Read more: IMF projects Pakistan’s growth at 3.6%
The Pakistan government has already downward adjusted its 4.2% ambitious target to 3.5% while the World Bank has made a forecast of 2.6% for the same reason.
The sources said that even in the medium term, the IMF was not projecting more than a 4.5% economic growth rate for Pakistan, that too is hinging upon the support from any meaningful increase in exports and investment.
The Executive Board of the IMF is expected to approve the third instalment of $1 billion for Pakistan under the Extended Fund Facility (EFF) programme during its meeting scheduled for December.
The Fund is also likely to provide $200 million under climate financing, which will be made available through the Climate Resilience Financing mechanism.
The staff-level agreement between Pakistan and the IMF was finalized on October 15. Officials from the Ministry of Finance are optimistic that the next instalment under the ongoing loan programme will be approved.
Business
Business news live – Banks bet on interest rate cut and UK bills rise 8% in a year
Interest rates: five steady cuts after sharp correction up
It’s sometimes hard to keep pace with everything around interest rates, how much it has all changed and the wider impact it has.
This chart helps display the rate of change, at least: post-Covid we had basically a zero rate for a long period, but the cost of living crisis across 2022 and 2023 saw interest rates shoot higher in quick succession as the BoE tried to stem inflation, which hit 11%.
Since last year the base rate began to decline, we’ve had five cuts in total.
Three this year came in February, May and August.
Karl Matchett3 November 2025 09:20
Economics expert explains why BoE may wait for Budget
Thomas Pugh, chief economist at tax firm RSM UK, is one of those who thinks the MPC will remain prudent for now.
“Financial markets have gone from pricing in less than a 25% chance of another rate cut by the end of the year to a two-thirds chance now, due to a lower inflation peak and rumours of a less-inflationary budget,” he explained.
“We doubt this will be enough to tempt the Monetary Policy Committee (MPC) into a rate cut next week. We expect a 3-6 vote for a hold. But it throws the door wide open to a rate cut in December, especially if the budget is deflationary.”
Karl Matchett3 November 2025 09:00
‘Odds 50-50’ on a December rate cut
Not everyone is immediately convinced, of course.
Plenty still think it’s more likely that the BoE will persist with their cautious approach so far and at least wait for one more monthly set of data to be taken in before opting to cut.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, points to the money market still being split on December at the moment.
“London stocks have a touch higher this morning as investors brace for a pivotal week at the Bank of England. Rates are widely expected to stay at 4% on Thursday, but the real debate is whether policymakers deliver a cut in December, with odds hovering near 50-50. With stubborn inflation and slowing growth, expectations for the year ahead are in the balance.
Karl Matchett3 November 2025 08:40
Barclays join calls for interest rates cut
Last week Goldman Sachs said they think a rate cut is in the offing, and now Barclays have joined them.
Noting that “shop price data point to further disinflation in October”, Barclays analysts have suggested the Bank of England’s MPC members will provide a split vote – they predict 5-4 – but the ultimate outcome will be a cut.
“We acknowledge the decision remains finely balanced, but expect the recent downside inflation and labour market news to tip the vote to a cut,” read the analysis note, from Jack Meaning and Silvia Ardagna.
Food inflation is a key tipping point in the vote, they predict, and it appears to be on the way down (disinflation).
Karl Matchett3 November 2025 08:20
Inflation data behind change of heart on interest rate cuts
Rewind the tape a few weeks and banks, economists and analysts were unified in their belief: no interest rate cut pre-Budget, quite possibly none for the rest of 2025.
However, inflation data for September changed all that.
We didn’t hit 4% as expected, and now the worst is expected to have passed.
On the back of that, jobs data came in weaker again too as companies continued to reign in the hiring and vacancies were down to a multi-year low.
Now, more than one bank has changed its tune.
Karl Matchett3 November 2025 08:14
Business
Rail security to be reviewed after train stabbings, says minister
Jennifer MeierhansBusiness reporter
PA MediaThere will be a review of rail security in the UK following a mass stabbing on a train, Transport Secretary Heidi Alexander has said.
A man has been charged with 10 counts of attempted murder after the knife attack on a Doncaster to London service on Saturday night.
Alexander told the BBC the government would “review security arrangements” and respond “swiftly and in a proportionate way”.
But she did not think airport scanning technology “is the right solution for stations in the UK”.
Questions about passenger safety on the UK’s rail network have been raised after a a black British national, who boarded a train at Peterborough station, attacked passengers with a knife.
Eleven people were treated in hospital including a member of train staff who is said to be in a “critical but stable condition”.
Anthony Williams, 32, from Peterborough has been charged with 10 counts of attempted murder, one count of actual bodily harm and one count of possession of a bladed article, British Transport Police (BTP) said on Monday morning.
Alexander told BBC Breakfast that BTP officers would increase visible patrols at mainline stations over the coming days “because I do understand that people will want to feel reassured following what happened”.
“Thankfully incidents like this on the public transport network are very, very rare,” she added.
She said the rail network in the UK was a “low crime environment” and for every one million passenger journeys only 27 crimes were committed.
Asked what steps the government would take to improve security on trains, she said: “We are investing in improved CCTV in stations and the Home Office will soon be launching a consultation on more facial recognition technology which could be deployed in stations as well.”
Asked about luggage scanners similar to those used in some major train stations abroad she said: “At the moment that type of airport scanning technology I don’t think is the right solution for stations in the UK.”
Andy Trotter, former British Transport Police Chief Constable told BBC Breakfast Saturday’s attack illustrates “people’s real concerns about being trapped with an offender or with someone causing disorder”.
“I hope this results in a broader review of security, the need for more British Transport Police, the need for more security from the rail companies themselves.”
Senior Reform UK politician Zia Yusuf on Sunday said he would not like to see increased security at train stations.
He told the BBC’s Sunday With Laura Kuenssberg programme it would impose “enormous friction” on the lives of law-abiding people “as a result of the actions of a tiny minority”.
He argued for a significant increase in the use of stop-and-search powers “to saturation”, saying this would remove deadly weapons from circulation.
Official figures released last month show knife crime has fallen in the past year, while NHS admissions for assaults with a sharp object are down 10% compared with 2024.
Overall violent crime showed “no statistically significant change” from 2024, but remains a third lower than it was a decade ago and 75% down on its peak in 1995, while homicides have reached their lowest point since at least 2003.
Business
Market Closing: Sensex, Nifty End Flat; Realty, PSU Banks Lead
Last Updated:
Indian markets began the week on a weak note, dragged by selling in IT and private banking stocks.
Sensex Today
Sensex Today: Indian markets began the week on a weak note, dragged by selling in IT and private banking stocks.
The BSE Sensex opened at 83,788, down 150 points or 0.18%, while the Nifty50 slipped 59 points or 0.23% to 25,663.
In broader trade, the Nifty Midcap index was flat, while the Smallcap index gained 0.5%.
Global Cues
Globally, investors are awaiting key macro data, including China’s manufacturing figures due later today, as well as US updates on auto sales, household debt, and factory activity. Domestically, traders will watch the HSBC Manufacturing PMI Final for October for cues on economic momentum.
Across Asia, markets opened mixed after Wall Street finished higher on Friday. South Korea’s Kospi gained 1.04%, while Australia’s S&P/ASX 200 slipped 0.40%. Japan’s markets are shut for a public holiday.
On Friday, October 31, US stocks advanced, led by optimism around Amazon’s upbeat outlook. Gains were capped by caution over the Federal Reserve’s approach to future rate cuts. The S&P 500 rose 0.26%, the Nasdaq climbed 0.61%, and the Dow Jones ended higher as well.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 03, 2025, 09:18 IST
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