Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 14,065.3 million as of 14-Jul-2023. The break-up of the foreign reserves position is as under: Foreign reserves held…
IMF country report on Pakistan; 9 Performance Criteria, 4 Indicative Targets, 10 Structural Benchmarks
IMF has released its Country Report on Pakistan after the Executive Board approved a 9-month Stand-By Arrangement (SBA) of US$3bn for Pakistan. Of this amount, US$1.2bn has already been disbursed,…
SBP decides to raise the policy rate by 100 bps to 22 percent
KARACHI; In the statement after its meeting held on 12th June, the Monetary Policy Committee (MPC) viewed the then monetary policy stance as appropriate to achieve the objective of price…
Pakistan Implements Additional Tax Measures to Secure IMF Loan Program
KARACHI: In an effort to overcome the impasse in securing a loan program from the International Monetary Fund (IMF), Pakistan has imposed an additional tax burden of Rs215 billion on…
SBP removes all import restrictions
KARACHI: The State Bank of Pakistan (SBP) on Friday announced withdrawal of all restrictions on imports to facilitate the industrial sector. In December last year, the SBP asked banks to…
FPCCI is Disappointed at Maintaining Status Quo in Policy Rate Irfan Iqbal Sheikh
Karachi (PR): President FPCCI – country’s apex body on trade & industry – has expressed his profound disappointment over maintaining status quo in key policy rate by the State Bank…
Karachi Chamber for out-of-the-box solutions to avoid further downslide of economy
FEDERAL BUDGET PROPOSALS 2023-24: KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) firmly believes that that out-of-the-box solutions were needed to avoid further downslide of economy while the decision-makers…
Pakistan Economy – Funding assurance received from UAE for US$1bn; Major requirements for IMFs 9th review are now complete
According to Ministry of Finance, the UAE has provided assurance that it will provide additional deposit of US$1bn to Pakistan, paving the way for Pakistan to sign a Staff Level…
FPCCI Predicts a Negative Growth Rate in FY23 Irfan Iqbal Sheikh
Karachi (PR): Mr. Irfan Iqbal Sheikh, President FPCCI, has highlighted the glaring anomalies in the fiscal discipline; management of external account and economic growth rate; which are being observed by…
IPS’ National Academic Council meets to discuss ongoing crisis, Intelligentsia for strong, indigenous, civil society mobilization to pull country out of morass
Islamabad: Renowned intellectuals, technocrats, religious scholars and academics representing a cross-section of Pakistani society gathered for a special moot of the National Academic Council of Institute of Policy Studies (IPS)…
PML-N government increases GST rate to 18%; 10% adjustable tax on shares purchase
KARACHI: PML-N led government has proposed a mini budget at the National Assembly in order to comply with the conditions of International Monetary Fund (IMF). Finance Minister Muhammad Ishaq Dar…
Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 14,473.5 million as of 2-Sep-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
Pakistan lifts ban on import of cars, phones, luxury items
KARACHI: Government has lifted ban on all import of luxury and non-essential items. The ministry of commerce issued SRO 1562(I)/2022 for lifting the ban on luxury and non-essential items, including…
Acting Governor unveils Commemorative Banknote to mark 75 years of Pakistan’s Independence
Acting Governor State Bank of Pakistan (SBP) Dr. Murtaza Syed unveiled a Rs. 75 Commemorative Banknote to mark the 75th Anniversary of Pakistan’s Independence in a ceremony held at the…
Political backdrop of Budget should not be ignored
KARACHI: Political noise has been fever pitch in the last few months as the recently ousted PM Imran Khan demanding immediate elections. Even if the government is able to withstand…
Key taxation measures expected in FY23 Budget
KARACHI: Pakistan Federal Budget FY23 Preview with tax revenue target of Rs7.25trn for FY23, analysts expect new taxation measures across various sectors in the upcoming budget. Supertax: FBR is mulling…
Government to set tax revenue collection target of Rs7.25trn for FY23
KARACHI: Government is likely to set tax revenue collection target of Rs7.25trn for FY23 (9.2% of GDP), which is up 19% from the revised target of Rs6.1trn (9% of GDP)…
The Government and SBP refute baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers
The Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in…
Monetary Policy Statement
1. At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent. This action, together with much needed fiscal consolidation,…
Pakistan requires 7% economic growth to ease debt burden, create jobs Anjum Nisar says decline in LSM share in GDP growth to hamper govt struggling to create jobs
The Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), expressing serious concern over the slowdown in growth of big industries in the first half of…