KARACHI: Pakistan’s central bank cut its key policy rate by 100 basis points to 11 percent on Monday, resuming an easing cycle that has reduced the rate from a record 22% after a March pause, as inflation plummeted to near-zero levels amid collapsing food and energy prices.
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FBR gets instant tax recovery power post court ruling
ISLAMABAD: The government has granted tax authorities sweeping powers to seize bank accounts, properties, and seal businesses without prior notice, immediately following rulings from the country’s superior courts to recover unpaid taxes.
IMF sticks to Pakistan review on May 9, defying India’s push
KARACHI: The International Monetary Fund (IMF) will proceed with its Executive Board meeting on May 9 to review Pakistan’s $7 billion bailout program, dousing speculation of a delay sparked by a media report that India is pressing global lenders to rethink funds to Islamabad after a deadly attack in occupied Kashmir.
Trade deficit balloons 55pc in April as exports fall, imports jump
ISLAMABAD: Pakistan’s trade deficit surged 55.2% month-on-month to $3.39 billion in April 2025, driven by a sharp contraction in exports and a double-digit rise in imports, official data showed on Friday.
FBR races to close Rs3 trillion tax gap in 2 months
ISLAMABAD: The Federal Board of Revenue (FBR) is racing against time to bridge a Rs3 trillion fiscal gap over the next two months to meet a revised tax target of Rs12.332 trillion, after sluggish collections deepened risks of missing a critical benchmark renegotiated under an International Monetary Fund bailout program.
Petrol, diesel prices cut by Rs2/liter, tax grab limits relief
ISLAMABAD: The government cut petrol and diesel prices by Rs2 per liter on Wednesday, a marginal reprieve for consumers as it siphoned savings from falling global oil costs through higher taxes to shore up revenue.
FM Aurangzeb sees FY25 current account surplus, against central bank’s caution
KARACHI: Finance Minister Muhammad Aurangzeb struck an optimistic tone on the nation’s current account trajectory, projecting a surplus for the full fiscal year 2025 even as the central bank warned of a potential deficit, underscoring diverging views within the country’s economic leadership.
IMF board to weigh Pakistan’s $1 billion tranche, $1.3 billion climate loan on May 9
KARACHI: The International Monetary Fund’s Executive Board will meet on May 9 to review Pakistan’s $7 billion bailout and consider a $1.3 billion climate resilience loan, the lender’s website showed on Tuesday.
SBP says economy gains ground with policy overhaul
KARACHI: Pakistan’s economy showed marked improvement in the first half of fiscal year 2025, with inflation dropping to its lowest level in decades and the current account balance swinging into a surplus, the central bank said on Monday.
Govt pledges protections for foreign projects amid security challenges
LAHORE: Interior Minister Mohsin Naqvi assured a delegation of foreign investors on Sunday that the government would provide them with protection, the interior ministry said, amid a surge in militant attacks in the western provinces of Khyber Pakhtunkhwa and Balochistan.