By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 26.9 percent in October, the lowest level in 10 months, as food and fuel prices dropped sharply, official data showed on Wednesday.
top-economy
Pakistan sees growth pickup, inflation drop ahead of IMF talks
By Staff Reporter
ISLAMABAD: The Finance Ministry said on Tuesday it expects the economy to remain positive in the current fiscal year, as it projected a decline in inflation and a rise in growth ahead of talks with the International Monetary Fund (IMF).
Pakistan stands pat on rate, eyes IMF support and lower inflation
SBP keeps rates at 22 percent, sees inflation falling in October and beyond. MPC says tight policy stance to continue, ahead of IMF visit this week.
Pakistan halts steel mills sale after Chinese pullout
By Staff Reporter
KARACHI: Pakistan has scrapped plans to privatize its loss-making steel mills, the largest industrial complex in the country, after the only remaining bidder, a Chinese firm, withdrew its interest amid a global steel slump.
Pakistan’s economy shows early signs of recovery after IMF bailout, SBP says
By Staff Reporter
KARACHI: Pakistan’s economy, which contracted last year amid a balance of payment crisis, has started to show early signs of improvement as an International Monetary Fund (IMF) loan program offered some relief, the central bank said on Monday.
No fuel, no fly: PIA struggles to operate as PSO halts supply over unpaid dues
By Staff Reporter
KARACHI: The loss-making national carrier Pakistan International Airlines canceled more than 85 percent of its scheduled flights on Sunday, citing a severe shortage of fuel that has crippled its operations for the past week.
Current account gap narrows to near-zero in Sept
KARACHI: The current account deficit shrank to almost zero in September, as a steep fall in imports and a slight increase in remittances offset weak exports.
Pakistan borrows $3.5 billion in July-September, up 58pc year-on-year
By Staff Reporter
ISLAMABAD: Pakistan’s external borrowing jumped 58 percent in the first quarter of the current fiscal year 2023-24, as the country sought to bolster its foreign exchange reserves and meet its debt obligations amid a challenging economic situation.
Pakistan’s budget gap seen wider than target – IMFÂ
By Staff Reporter
ISLAMABAD: Pakistan’s fiscal deficit is expected to exceed the government’s target by more than one percentage point of gross domestic product in the current financial year, the International Monetary Fund (IMF) said on Wednesday.
Pakistan seeks financial adviser to privatise loss-making national airline
By Staff Reporter
ISLAMABAD: Pakistan will hire a financial adviser to draft a plan to privatise its money-losing national airline, as part of its fiscal discipline agreement with the International Monetary Fund (IMF).