By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb has signed off on a fixed tax scheme for retailers, with an official notification expected to be issued shortly, a government official said on Monday.
Macro
Current account deficit shrinks 79pc to 13-year low in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s current account deficit plummeted to its lowest level in 13 years, fueled by a surge in exports and remittances from overseas workers, the central bank’s data showed on Friday.
SBP to cut key rate to 16pc in 2024, Fitch says
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to accelerate to 3.2 percent in the fiscal year 2024-2025, driven by monetary easing, improved agricultural output, and slowing inflation, a Fitch Ratings affiliate said on Wednesday.
Pakistan’s IMF deal boosts funding prospects, but reforms key, Moody’s says
By Staff Reporter
ISLAMABAD: Pakistan’s new International Monetary Fund (IMF) program will boost its funding prospects, but the government’s ability to implement reforms will be crucial to securing financing over the next three years, Moody’s Ratings said on Tuesday.
Govt hikes electricity tariffs by as much as 20pc to stem financial bleeding
By Staff Reporter
ISLAMABAD: The government has raised electricity tariffs by as much as 20 percent in a bid to stem financial losses and stabilize its ailing power sector, a move that will hit consumers and businesses already reeling from soaring inflation.
Moody’s warns Pakistan’s debt affordability remains weak despite budget efforts
By Staff Reporter
KARACHI: Pakistan’s budget for fiscal 2025 targets quicker fiscal consolidation, but the country’s debt affordability remains weak, posing high debt sustainability risks, rating agency Moody’s said on Thursday.
FM Aurangzeb says Pakistan on track for IMF loan deal in July
By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb said on Thursday the country expects to reach a staff-level agreement with the International Monetary Fund (IMF) next month, paving the way for a fresh loan to address its economic woes.
Illegal cigarettes erode Pakistan’s tax base, undermine health initiatives
ISLAMABAD: The intricate process of policymaking is currently centered around a contentious issue: tobacco taxation. As the government delves into its budget-making process, a fierce debate has emerged. Policymakers are grappling with a critical decision—whether to focus on the country’s fiscal framework or to prioritize a health-driven agenda by increasing taxes on the tobacco sector.
S&P Global sees rate cut after surprise inflation drop
By Staff Reporter
ISLAMABAD: S&P Global Market Intelligence expects the State Bank of Pakistan (SBP) to cut its policy rate by the end of June and projects a cumulative 450-basis-point reduction by the end of 2024, following a surprise drop in the monthly inflation rate.
Inflation dips to 30-month low, signals potential rate cut
By Staff Reporter
KARACHI: Inflation cooled more than expected in May, hitting a 30-month low and coming in under government forecasts, potentially giving the central bank room to ease policy in the upcoming review.