By Staff Reporter
ISLAMABAD: The government has cut the price of petrol by 5.3 percent to Rs273.10 per liter for the next 15 days, the second cut in a fortnight, providing some relief to consumers reeling from inflation over the past two years.
Macro
IMF mission due this week to discuss next program
Pakistan is looking for a multi-year IMF program to help it push through a wide-ranging economic reform package to put its economy on an even keel. By Nusrat Shaheen.
Telecom operators agree to block SIMs of tax evaders
By Staff Reporter
ISLAMABAD: Pakistan’s telecom operators have reached an agreement with the Federal Board of Revenue (FBR) to block mobile phone SIMs of individuals who haven’t filed their tax returns, ending a week-long standoff with the tax authorities.
Pakistan plans pension reforms to cut costs, secure IMF deal
By Staff Reporter
ISLAMABAD: Pakistan plans to introduce pension reforms to reduce its ballooning expenditure and secure a new deal with the International Monetary Fund (IMF), Finance Minister Muhammad Aurangzeb said on Tuesday.
FBR’s move to block tax non-filers’ SIM cards illegal: telcos
By Staff Reporter
ISLAMABAD: The Cellular Mobile Operators (CMOs) have collectively denounced the Federal Board of Revenue’s (FBR) directive to block over half a million SIM cards, labeling the move as a breach of the Pakistan Telecommunication (Re-Organization) Act 1996 and an illegal action.
Inflation slows to lowest in nearly two years
By Staff Reporter
ISLAMABAD: The inflation rate slowed for the fourth straight month in April, easing to 17.34 percent from a year ago, as record borrowing costs curbed economic growth and domestic demand, data from the statistics office showed on Thursday.
Inflation to hover around 18.5-19.5pc in April, ease further in May: Ministry
By Staff Reporter
ISLAMABAD: The economy is showing signs of recovery as the finance ministry on Tuesday forecast a drop in inflation to 17.5 percent in May, following a series of strict administrative measures aimed at stabilizing the prices.
SBP receives final tranche of $1.1 billion IMF loan
By Staff Reporter
KARACHI: The central bank said on Tuesday that it has received the final tranche of a $1.1 billion loan from the International Monetary Fund (IMF), concluding a critical $3 billion loan program that has helped Pakistan avert a sovereign default.
SBP keeps tight grip on rates to tame inflation
KARACHI: The State Bank of Pakistan left its interest rate at an all-time high of 22 percent for the seventh straight policy meeting on Monday, citing inflation risk amid geopolitical tension and macroeconomic stabilization measures.
IMF approves final $1.1 billion tranche of $3billion bailout for Pakistan
By Staff Reporter
ISLAMABAD: Pakistan secured a $1.1 billion lifeline from the International Monetary Fund (IMF) on Monday, as the global lender approved the final tranche of a $3 billion bailout package designed to shore up the country’s dried-up finances and avert a sovereign default.