By Staff Reporter
KARACHI: Finance Minister Muhammad Aurangzeb on Tuesday expressed optimism about the International Monetary Fund’s (IMF) approval of a $7 billion, 37-month program, ahead of the IMF board meeting on Wednesday.
Macro
Debt-laden PIA up for auction on Oct 1
By Staff Reporter
ISLAMABAD: The government said on Friday it will auction off the country’s national carrier, Pakistan International Airlines (PIA), on Oct. 1, as part of a broader push to privatize state-owned enterprises and shore up public finances.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the meeting of the Economic Coordination Committee (ECC) at the Finance Division in Islamabad on September 20, 2024.
FM Aurangzeb says govt won’t borrow unless on own terms
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Friday that the government’s rejection of all bids for treasury bills aimed to convey its ability to borrow on its own terms, as he urged banks to focus on lending to the private sector.
Power generation falls for second month on weak demand
By Staff Reporter
KARACHI: Power generation tumbled 17 percent in August from a year earlier, marking the second consecutive monthly decline, as high electricity charges and sluggish industrial activity curbed demand.
Current account reverts to surplus in August after three-month gap
By Staff Reporter
KARACHI: Pakistan’s current account balance swung back into surplus in August, posting a $75 million gain, reversing a $152 million deficit in the same month last year, central bank data showed on Wednesday.
ADB approves $320 million loan for KPK road project
By Staff Reporter
ISLAMABAD: The Asian Development Bank approved a $320 million loan to upgrade rural roads in Pakistan’s Khyber Pakhtunkhwa province, enhancing connectivity and economic growth, a statement said on Friday.
Pakistan wins IMF board meeting for $7 billion loan on Sept. 25
By Staff Reporter
KARACHI: Pakistan has moved a step closer to securing a $7 billion bailout package from the International Monetary Fund, with the lender’s executive board set to meet on September 25 to discuss the loan.
SBP delivers third straight rate cut, trims 200 bps as price pressures abate
By Staff Reporter
KARACHI: Pakistan’s central bank has lowered its key policy rate by 200 basis points to 17.5%, the third consecutive reduction since June, as inflation cools and growth prospects brighten.
Pakistan sees IMF deal within reach as financing talks advance
By Staff Reporter
ISLAMABAD: The government is in advanced talks to secure external financing assurances, a crucial step towards finalizing a $7 billion loan from the International Monetary Fund (IMF), said Finance Minister Muhammad Aurangzeb on Tuesday.
Single-digit inflation returns after almost 3 years, August rate drops to 9.6pc
By Staff Reporter
ISLAMABAD: Consumer price inflation rose 9.6 percent in August from a year earlier, the slowest pace in 34 months, as the central bank prepares to cut interest rates for the third time this year.