By Staff Reporter
ISLAMABAD: Inflation in Pakistan jumped in March to its highest in almost six decades, driven by skyrocketing food and fuel prices, statistics bureau data showed on Saturday, putting pressure on the central bank to hike rate aggressively at a meeting due next week and to keep tightening policy in the months ahead.
By Staff Reporter
ISLAMABAD: Rupee devaluation and rising energy prices are likely to push up consumer prices in the near term that are already sky high, the finance ministry warned on Friday.
News Desk
ISLAMABAD: China is working on a request from cash-strapped Pakistan to roll over a $2-billion loan that matured last week amid a stalemate in bailout talks with the International Monetary Fund (IMF), Reuters reported on Thursday.
By Staff Reporter
ISLAMABAD: Finance minister Ishaq Dar held talks with the top United Arab Emirates diplomat in Pakistan on Wednesday to seeks external financing commitment — a key IMF condition for release of stuck-up bailout loan — from the friendly county.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has tasked Pakistan to secure financing assurances from other multilateral institutions and friendly countries to unlock a $6.5 billion loan programme to avoid a default.
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved an additional grant of Rs27 billion for the state-owned Pakistan State Oil (PSO) to overcome losses in a Kuwaiti diesel credit facility, finance ministry said on Tuesday, citing exchange losses due to rupee-dollar parity over the last one year.
By Staff Reporter
KARACHI The State Bank of Pakistan (SBP) on Thursday raised its benchmark interest rate by 300 basis points to 25-year high of 20 percent to tame runaway inflation and also to win back a stalled $1.2 billion loan tranche from the International Monetary Fund.
By Staff Reporter
KARACHI: Fitch on Tuesday cut Pakistan’s sovereign credit rating by a notch to CCC- from CCC+, citing policy risks, critically low reserves and large refinancing risks, and difficult conditions set by the International Monetary Fund (IMF).
By Staff Reporter
ISLAMABAD: The Finance Ministry sent a stark warning that the country risks a double-whammy of stagflation and an empty coffer as it pushed up its 2023 inflation projections to 26 percent.
By Staff Reporter
KARACHI: Fitch Solutions on Tuesday forecast that Pakistan’s currency would depreciate further, particularly with the country’s balance of payments position that is likely to remain weak for several more months.
