KARACHI: The International Monetary Fund projected Pakistan’s economic growth at 3.6% for the fiscal year 2025-26, falling short of the government’s 4.2% target, while nudging up its estimate for the prior year to 2.7%.
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Pakistan’s crackdown on black market dollar trading drives trade underground
KARACHI: Pakistan’s efforts to curb black market dollar trading have bolstered the rupee, but the trade has swiftly shifted to informal channels like smartphones and home deliveries, Reuters reported on Tuesday.
Finance Minister Aurangzeb heads to US to finalise trade agreement
ISLAMABAD: Finance Minister Muhammad Aurangzeb departed for the United States on Monday to engage in high-level negotiations aimed at sealing a trade pact after months of talks, a move set to deepen economic ties with Washington, a government statement said.
Pakistan sees July inflation holding steady at 3.5-4.5% as economy shows signs of recovery
ISLAMABAD: Inflation in Pakistan is expected to hover between 3.5% and 4.5% in July, the finance ministry said in its latest monthly economic report on Monday, with stable prices and improved supply conditions keeping price pressures in check after a sharp drop last fiscal year.
Pakistan extends remittance incentive scheme amid record inflows
ISLAMABAD: Prime Minister Shehbaz Sharif has decided to extend a critical remittance incentive scheme, directing the Ministry of Finance to release funds immediately to sustain a program that has driven overseas workers’ inflows to a record $38 billion in fiscal year 2024-25.
ECC approves green taxonomy, signals robust economic and environmental push
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved a Rs72 billion subsidy on Friday to help 50,000 low-income families buy homes, part of a plan to boost affordable housing.
Foreign Minister Dar expects US trade pact within days
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said on Friday that a trade deal with the United States could be finalised within days, a move he framed as a cornerstone of improving relations between the two nations.
SBP to slow dollar reserve buildup to ease rupee pressure
KARACHI: Pakistan’s central bank will continue to build its dollar reserves but at a slower pace, aiming to avoid putting undue pressure on the rupee, Bloomberg reported on Friday.
Pakistan bonds rally to three-year highs after S&P upgrade
KARACHI: Pakistan’s long-dated dollar bonds rallied for a second day on Friday, hitting fresh three-year highs, after S&P Global upgraded the country’s sovereign credit rating to ‘B-’ with a stable outlook, citing the International Monetary Fund’s support in stabilising its strained finances.
Senate panel told Pakistan lost Rs2.25 trln to fake invoice tax fraud in two years
ISLAMABAD: Pakistan on Thursday reported more than Rs2.2 trillion in tax evasion through fake and flying invoices over the past two fiscal years, exposing deep flaws in its tax enforcement system and a significant loss of public revenue.