By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the government won’t impose any new taxes on the agriculture and construction industries, dismissing media reports that suggested otherwise.
Commodities
Pakistan urges Russia to restore Black Sea grain deal
By Staff Reporter
ISLAMABAD: Pakistan said on Thursday it would work to restore a vital Black Sea grain deal that Russia scrapped last week, warning that the move threatened global food security and hurt developing countries.
Pakistan must keep raising policy rate to fight inflation, IMF says
By Staff Reporter
ISLAMABAD: The International Monetary Fund has urged Pakistan to continue its monetary tightening cycle to rein in inflation and support the exchange rate, after approving a new $3 billion loan for the country last week.
Pakistan approves new investment policy to lure foreign investors
By Staff Reporter
ISLAMABAD: Pakistan has approved a new investment policy for 2023 that aims to attract foreign and domestic investors by offering incentives, easing regulations, and creating special economic zones, the government said.
A looming disaster
By News Desk
The illicit cigarette market has experienced a staggering surge in growth during the last fiscal year, raising concerns that it may soon surpass the legitimate industry in the current fiscal year of 2023-24.
IMF’s $3 billion bailout for Pakistan hinges on nine key reforms
By Staff Reporter
Pakistan has agreed to nine key reforms as part of a $3 billion stand-by arrangement with the International Monetary Fund, local media reported on Tuesday.
Pakistan slashes trade deficit by 43pc in FY23 amid import curbs
By Staff Reporter
ISLAMABAD: Pakistan’s trade deficit shrank by 43 percent to $27.55 billion in the fiscal year 2023, data from the Pakistan Bureau of Statistics (PBS) showed on Monday, as the government curbed imports to cope with low foreign exchange reserves.
Textile exports plunge 15 percent in FY23
By Staff Reporter
ISLAMABAD: Pakistan’s textile exports plunged 15 percent to $16.51 billion in the fiscal year 2022/23, missing a target of $24 billion, as high energy costs and import restrictions hurt the industry, official data showed on Monday.
Pakistan’s new debt management strategy aims to reduce risk, diversify portfolio
The country plans to issue 10- to 15-year bonds and secure concessional loans to meet its external financing needs, as part of a new Medium-Term Debt Management Strategy for fiscal years 2023 to 2026 that aims to reduce risk and diversify its portfolio.
ECC allows Sindh sugar mills to export 32,000 tons
By Staff Reporter
ISLAMABAD: The cabinet’s Economic Coordination Committee (ECC) approved on Friday the export of 32,000 metric tons of sugar by mills in Sindh province within 60 days and a supplementary grant of Rs250 billion to increase the borrowing limit of the provinces for the current fiscal year.