Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 23,720.9 million as of 04-February-2022. The break-up of the foreign reserves position is as under:- i) Foreign reserves…
Nonstop borrowing from IMF poses economic, political challenges BMP Chairman Anjum Nisar calls for exploring investment resources from private sector
Karachi: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) Chairman has warned that continued borrowing from the IMF and other multilateral sources is posing serious economic…
As minibudget ready businessmen warn of additional taxes on industry raw material, Mian Anjum says govt plan to generate Rs360b thru minibudget to spur inflation
Irfan Iqbal says more taxes on renewable energy plants to deter alternate power generation: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has warned of imposing…
Govt must convince IMF to soften loan terms as further taxes to ruin economy, Mian Anjum backs PM stance to approach IMF for relaxation in loan conditions
The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman Mian Anjum Nisar has opposed the government commitment with the IMF to increase taxes by a Rs1.27 trillion…
Rs5.36/unit hike in base electricity tariff to ruin industry
Resenting frequent increase in power tariff the Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman and FPCCI former president Mian Anjum Nisar has strongly opposed the government…
Frequent hike in energy rates to appease IPPs will dent PM vision of reducing production cost
The Federation of Pakistan Chambers of Commerce and Industry’s ruling group has resented the frequent jump in electricity tariff and petroleum products’ prices, which is made on behest of the…
Digitalization to help rebuild world economy & e-commerce amidst COVID-19; Stability in Afghanistan crucial for peace and development of entire region: SCO Secretary-General Fehmida Mirza terms social protection an indispensable art of policymaking Hafiz Pasha says no option but to go back to IMF
Social sector development back on the radar of govts: Dr Suleri. ISLAMABAD: Vladimir Norov, the Secretary-General of Shanghai Cooperation Organization (SCO), has said that though coronavirus has incurred enormous damage…
Federal Budget 2020-2021
Federal Budget 2020-2021 is the most unrealistic document based on pure assumptions, without any calculation or working which can be authenticated or legitimized. It seems as it was necessary to…
Subsidy to K-Electric consumers reduced 57pc to Rs25.5bn
KARACHI: The federal budget 2020-21 has proposed 57 percent reduction in subsidy to K-Electric consumers for the upcoming year to Rs 25.5 billion compared with Rs59.5 billion allocation for the…
PTI government presents new taxes less, incentive less deficit budget 2020-21
ISLAMABAD: Minster for Industries Hammad Azhar presented the federal budget for the fiscal year 2020-21, wherein no new taxes have been imposed. The budget i.e. the Finance Bill is said…
Agha Shahab rejects more powers for Taxmen in the Budget
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has expressed serious concern on reports that the Income Tax officials are seeking more powers to probe…
IMF warns Asia’s economy to see 0% growth in 2020
TOKYO: Asia’s economy is expected to stall at zero percent this year, the worst growth performance in almost 60 years, said the International Monetary Fund (IMF) on Wednesday. “This is…
IMF relaxes budget deficit ceiling
ISLAMABAD: The International Monetary Fund (IMF) has agreed to relax budget deficit ceiling aimed at allowing Pakistan to meet emergency fiscal needs to fight deadly coronavirus contagion that has started…
Dr. Murtaza Syed appointed as Deputy Governor SBP
Dr. Murtaza Syed was appointed as Deputy Governor of the State Bank of Pakistan by the Federal Government for a period of three years, in pursuance of Section 10(4) of…
Pakistan receives another $452.4 million from IMF
KARACHI: Pakistan has received $452.4 million as the second tranche of $6 billion IMF loan taking the foreign exchange reserves up to $18 billion. “On 23-December-2019, SBP received US$452.4 million…
IMF approves second tranche of $6bn facility to Pakistan
KARACHI: International Monetary Fund (IMF) expressed satisfaction over Pakistan’s economic performance and agreed on next steps, paving the way for release of $450 million tranche of the US$6 billion, three-year…
IMF predicts Pakistan’s economic turnaround from 2020
WASHINGTON: The International Monetary Fund (IMF) has estimated increase in economic growth for Pakistan after the year 2020, The News reported. During a press conference here on Wednesday, Deputy Director…
Global economic outlook ‘precarious,’ no room for mistakes, IMF warns
WASHINGTON: The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war and other factors like Brexit undercut business confidence and investment,…
PTI government unable to meet Rs1,071 bn tax collection target
ISLAMABAD: The government has shown its inability to collect Rs1071 billion envisaged by FBR as tax collection target to meet the IMF performance criteria and indicative target for end September…
IMF agreement: Electricity prices to be hiked quarterly
ISLAMABAD: Pakistan has agreed with the IMF to further hike the electricity tariff on quarterly adjustments basis by end of the next month. The IMF has also placed implementation on…