By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the government will fulfill its external debt commitments including the repayment of $1 billion sukuk bond that’s due on December 5.
Macro
Leery of policy slippage, IMF hot on minibudget
As Pakistan prepares to face the lender of last resort for the 9th review of a multibillion-dollar bailout package that has kept Pakistan afloat, the Fund is apprehensive of policy slippage, especially with reference to primary deficit. By Muhammad Ali.
SBP seeks whistleblowers to nab illegal forex trade
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) has established a whistleblower system to get tips on foreign exchange dealers that may be breaking its rules.
Interest-free banking system by 2027: Dar
By Naveed Naqvi
ISLAMABAD: The government would withdraw its appeals against the Federal Shariat Court’s April decision of eliminating Riba from the country in five years, Finance Minister Ishaq Dhar announced on Wednesday, saying the country would move towards an interest-free banking system under the Islamic law by 2027.
No sit-on for Khan ahead of MBS visit?
Doubling of the Kingdom’s hard-currency deposits to USD 8.4 billion is its centrepiece, but there is a lot more to the package, to be announced when MBS, who met with PM Sharif at Sharm El-Sheikh Tuesday, visits Pakistan starting November 21. By Muhammad Ali and Naveed Naqvi.
SBP tightens dollar limits for international travelers
By Staff Reporter
KARACHI: The central bank on Tuesday restricted travelers ’access to foreign-currency cash up to $5,000 per visit, the latest step to preserve precious hard currency.
Probe into smuggling of dollars to Afghanistan
Perturbed by the inexplicable upturn in the value of the greenback in the open market, the authorities have initiated a probe into illegal smuggling of dollars from Pakistan to Afghanistan. By Muhamad Ali.
China, Saudi Arabia assure $13bn funding to Pakistan
Monitoring Desk
ISLAMABAD: China and Saudi Arabia have assured $13 billion in funding to Pakistan as the cash-strapped nation grapples with the aftermath of catastrophic floods, local media reported on Saturday.
Why can’t Pakistan stay on-budget?
Revenue losses from slow rollout of PDL and import compression combined with higher spending needs threaten to break the government’s budget ahead of a crucial review meeting with the IMF. Can Dar keep the EFF afloat? By Muhammad Ali.
October inflation jumps to 26.6pc as food and energy prices spiral
By Staff Reporter
ISLAMABAD: Inflation soared to 26.6 percent in October from a year earlier as food and energy prices spiraled, official figures revealed Tuesday, escalating the country’s cost-of-living crisis.