Tag: Challenges

  • Maryam Noor opens up about challenges of apartment sharing

    Maryam Noor opens up about challenges of apartment sharing

    Maryam Noor, the well-known actress in the Pakistan showbiz industry, shared details of a tough experience of living in a shared apartment.
    In a recent appearance on a private TV show, Maryam discussed various topics, including her past challenges.

    She recounted, “When I moved to Karachi, I initially lived in a shared apartment. Many people who relocate from Lahore to Karachi desire a beautiful and clean place, but not everyone can afford expensive accommodation. I met a seemingly neat and honest girl who offered me a shared apartment.”
    Maryam shared her family’s concerns when she informed them about the offer. “My family suggested renting a cheaper apartment instead of sharing. However, I reassured them that the girl was good and nothing bad would happen.”

    As time passed, Maryam realized that the girl, who initially seemed straight and decent, changed after getting a boyfriend. Maryam began feeling like she was treated as if she were the maid, not an equal tenant.

    Maryam explained, “Her behavior worsened over time. When my family visited, she behaved strangely with them. I decided to distance myself from her, but when I went to Lahore, she called me, claiming she had bought a house and demanded the deposit for the apartment.”

    Reminding the girl of the two-month contract, Maryam insisted on waiting for the agreed period. Upon returning to Karachi, she discovered that the girl had stolen her belongings, thrown dead prawns in her room, and even placed spoiled food among her possessions.

  • Pakistan’s economy to recover, but challenges remain: World Bank

    Pakistan’s economy to recover, but challenges remain: World Bank

    Pakistan’s economic outlook, as per the World Bank’s ‘Pakistan Development Update,’ is challenging. The report projects a gradual recovery in real GDP growth, expecting it to reach 1.7 per cent in FY24 and 2.4 per cent in FY25. However, it warns that this recovery is contingent on implementing IMF measures, securing external financing, and maintaining fiscal discipline.

    The report highlights the dire poverty situation in Pakistan, with an estimated 39.4 per cent of the population living below the Lower-Middle Income Country poverty threshold in FY23, compared to 34.2 per cent in FY22. Factors contributing to this include economic slowdown, floods in 2022, import restrictions, political uncertainty, rising global commodity prices, and reduced investor confidence.

    The fiscal deficit remains a concern. While some easing of import restrictions may widen the current account deficit, a weaker currency and higher domestic energy prices could sustain inflation. The report emphasizes the importance of comprehensive fiscal reforms, including reducing tax exemptions, broadening the tax base, improving public expenditure quality, reforming the energy sector, and managing public debt more effectively.

    The World Bank stresses that addressing these challenges is crucial for long-term recovery and recommends strengthening institutions and systems to achieve fiscal and debt sustainability. The report echoes concerns about external shocks, political instability, and debt servicing challenges, underlining the need for prudent economic management and reforms.

    The Asian Development Bank (ADB) predicts a modest GDP growth recovery to 1.9 per cent in FY24, following a contraction of 0.3 per cent in FY23, with persistent price pressures. Overall, Pakistan faces a complex economic landscape that demands immediate attention to fiscal reform, poverty alleviation, and resilience to external shocks.

  • Slow economic growth and inflation challenges persist in Pakistan: ADB Outlook Report

    Slow economic growth and inflation challenges persist in Pakistan: ADB Outlook Report

    During the last fiscal year, Pakistan faced the twin challenges of low economic growth and high inflation, in contrast to other South Asian countries.

    According to the Asian Development Bank (ADB), to foster economic improvement, Pakistan must continue implementing reforms under the new IMF programme.

    However, the ADB’s Outlook Report predicts that the economic growth rate in the upcoming financial year is expected to remain sluggish, similar to the performance observed in the previous fiscal period.

    The primary reasons for the slow economic growth were last year’s floods and the implementation of strict monetary and fiscal policies.

    The ADB’s report also highlights that inflation in Pakistan exceeded expectations during the past year. This inflationary pressure was further exacerbated by increased demand for commodities.

    In comparison, India is projected to experience a growth rate of 6.7 per cent, Sri Lanka 1.3 per cent, and Bangladesh at a rate of 6.5 per cent.