Keeping the country solvent is an important priority, but marshalling resources for floor relief and rehabilitation needs to move up the ladder.
Macro
SBP keeps policy rate flat at 15pc, eyes inflation data
By Staff Reporter
KARACHI: State Bank of Pakistan kept its benchmark interest rate unchanged at 15 percent on Monday, and said it continued to have a cautious attitude toward policy stance considering runaway monthly inflation.
Pakistan assures IMF on petroleum levy to win $1.17bln loan
By Staff Reporter
ISLAMABAD: Pakistan has assured the IMF on a phase-wise increase in tax on petroleum products, citing a further raise of Rs10 per liter planned from September 1, officials said.
Pakistan’s letter off to IMF for bailout revival
The stage now seems set for the revival of the program and disbursement of a USD 1.17 billion tranche before August is out. By Muhammad Ali.
Saudi Arabia to renew $3 billion deposit to Pakistan
News Desk
KARACHI: Saudi Arabia has decided to rollover its $3 billion deposit in Pakistan’s central bank and an announcement on the kingdom’s assistance to cash-strapped nation is expected in next two days, Bloomberg newswire reported on Saturday.
Pakistan receives LoI to request $1.17bln IMF bailout loan
By Staff Reporter
ISLAMABAD: Pakistan on Friday received a Letter of Intent (LoI) from the International Monetary Fund (IMF) to formally request the board of Washington-based lender to release two tranches worth $1.17 billion and an additional one billion dollar and a year’s extension in the bailout loan facility.
Forex reserves slump 4.6 pct in just a week to lowest since October 2019
By Staff Reporter
KARACHI: Pakistan’s foreign exchanges reserves plunged almost 4.6 percent or $648 billion in the first week of August on higher external debt payments and dried dollar inflows, central bank data showed on Thursday.
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division- August 11,2022.
ECC raises imported urea price by 25 percent
By Staff Reporter
ISLAMABAD: The government on Thursday raised the Dealer Transfer Price (DTP) of imported urea, the fertilizer most used by farmers, by near 25 percent to Rs2,150/bag to bring it par with the cost of locally produced fertilizer.
SBP eases cash margin curbs
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Friday eased 100 percent cash margin requirements on all import on deferred payments to facilitate importers, it said.
IMF & Pakistan: Going in circles?
Taking stock of the progress made over the period covered by the Fund’s EFF program, it is amply clear our economy is worse than before.