Pakistan’s GDP growth at 0.29% in FY23
The National Accounts Committee (NAC) released National Accounts for FY23 based on provisional numbers. The estimates of GDP growth for FY23 came out to be 0.29% compared to 6.10% growth…
Deposit Protection Corporation Issues Annual Report for FY22
Deposit Protection Corporation (DPC), a subsidiary of State Bank of Pakistan, has issued its second Annual Report today, covering its activities for FY22. The report has been issued with the…
SBP releases new Governor’s Annual Report 2021-22
A combination of both external and domestic factors contributed to higher than projected inflation in FY22, according to Governor’s Annual Report 2021-22 released by the State Bank of Pakistan (SBP)…
SBP releases Annual Report on The State of Pakistan’s Economy
The State Bank of Pakistan released today its Annual Report on the State of Pakistan’s Economy for the fiscal year 2021-22. According to the report, Pakistan’s economy achieved a real…
Customs Enforcement Karachi surpasses revenue target
KARACHI: The Collectorate of Customs Enforcement, Karachi surpassed its revenue target for month of September (Rs. 7.9 billion) by collecting total duty/taxes of Rs. 9.24 billion and also collected Rs.…
Half Year Report FY22 on the State of Pakistan’s Economy released
Pakistan’s economic recovery continued in H1-FY22, notes the Half Year Report for FY22 on the State of Pakistan’s Economy, released by the State Bank of Pakistan (SBP) today. From the…
“Workers’ remittances rise to a record-high in FY22”
In June, remittances rose to $2.76 billion, increasing by 18.4 percent on m/m basis and 1.7 percent on y/y basis. In June, remittances were mainly sourced from Saudi Arabia ($666…
Quantum of imports decline, but revenue surges
KARACHI: In terms of TEUs (20ft box), Pakistan’s overall import declined 5.5 per cent to 1.37 million TEUs in FY22 as compared with 1.45 million TEUs last fiscal year. However,…
e-Banking Continues steady growth in the Third Quarter of FY22
The State Bank of Pakistan released its third quarterly report of Payment Systems for the Fiscal year 2021-22 today covering the period January to March 2022. The report presents an…
Deputy Governor SBP urges banks to leverage SBP’s recent initiatives to boost agriculture financing
Deputy Governor – State Bank of Pakistan (SBP), Ms. Sima Kamil, chaired the Quarterly Follow-up Meeting of Agricultural Credit Advisory Committee (ACAC) today in Karachi. The meeting reviewed progress on…
Federal Budget: Energy Taxation
KARACHI: The most notable increase stems from the projected Rs750 billion collection of Petroleum Development Levy (PDL) against Rs135 billion collected in FY22. Based on market estimates, the targeted Petroleum…
Pakistan posts 5.97% real GDP growth in FY22
KARACHI: In FY2022, the real GDP growth remained at 5.97 percent, Economic Survey of Pakistan revealed. However, underlying macroeconomic imbalances and associated domestic and international risks have dampened celebrations. The…
Monetary Policy Statement
At its last meeting on 8th March 2022, the Monetary Policy Committee (MPC) noted in its statement the significant uncertainty around the outlook for international commodity prices and global financial…
SBP releases First Quarterly Report FY22 on the State of Pakistan’s Economy
The State Bank of Pakistan today released its First Quarterly Report for FY22 on the State of Pakistan’s Economy. The analysis and economic outlook of the report are based on…
Monetary Policy Statement
At today’s meeting, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 9.75 percent. This decision reflected the MPC’s view that the outlook for inflation has improved…
Clarification on Inflation target and forecast
In some sections of the media, SBP’s average inflation forecast of 7-9% in FY22 is being interpreted as the “inflation target” and being compared to the inflation targets of other…
Customs Enforcement, Quetta has exceeded seizures worth 4.10 billion
QUETTA: Collectorate Of Customs Enforcement, Quetta has exceeded seizures worth 4.10 billion during first four months of FY22. Upon the directives of Federal Board of Revenue, Chief Collector of Customs…