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.
Macro
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.
Pakistan requests 10 billion yuan China swap line boost, targets panda bond
ISLAMABAD: Pakistan has asked China to expand its currency swap line by 10 billion yuan, Finance Minister Muhammad Aurangzeb said, as the cash-strapped nation seeks to bolster reserves and plans a debut panda bond by year-end to diversify funding.
Banking sector grows 15.8pc in 2024, NPLs decline: SBP
KARACHI: Pakistan’s financial system maintained its stability and operational strength in 2024 despite global headwinds, as improved macroeconomic conditions and regulatory safeguards helped curb credit risks and bolster capital buffers, the State Bank of Pakistan (SBP) said in its annual Financial Stability Review (FSR) released on Thursday.
Brokerage poll sees majority betting rate cut, yet SBP likely to stand pat
By Staff Reporter
KARACHI: The central bank may consider reducing interest rates next week as inflation slows, but worries about delayed foreign funding and global trade issues could lead to caution, a top brokerage firm said.
World Bank cuts Pakistan’s growth forecast, urges structural reforms
ISLAMABAD: The World Bank has trimmed its growth forecast for Pakistan to 2.7 percent for fiscal year 2025, a slight dip from its previous estimate of 2.8 percent, signaling that without sweeping structural reforms to bolster private investment and export strength, the country’s economic and poverty woes will persist.
IMF cuts Pakistan growth outlook to 2.6pc amid US tariff blow
KARACHI: The International Monetary Fund (IMF) cut Pakistan’s growth forecast to 2.6 percent for the current fiscal year, down from 3 percent, as the US new tariffs, now at their highest levels in a century, on Pakistani goods threaten the country’s export-driven economy.