By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves surged to $10 billion, sufficient to cover two months of imports, after receiving the first $1.03 billion tranche of the International Monetary Fund’s $7 billion Extended Fund Facility.
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Trade gap widens to $5.4 billion on import surge
By Staff Reporter
ISLAMABAD: The trade deficit expanded 4.2 percent to $5.44 billion in the first quarter of the fiscal year 2024-25, driven by a 10 percent jump in imports, official data showed on Wednesday.
Sept inflation slows to 6.9pc y/y, lowest since Jan 2021
By Staff Reporter
ISLAMABAD: The consumer price inflation slowed to 6.9 percent in September from 9.6 percent in August, its lowest level since January 2021, as easing food and fuel rates helped tame price pressures, official data showed on Tuesday.
Pakistan revises up FY2023-24 GDP growth to 2.52 percent
By Staff Reporter
ISLAMABAD: Pakistan’s GDP growth surged to 3.07 percent year-on-year in Q4 FY2023-24, exceeding forecasts, with the National Accounts Committee (NAC) revising its full-year estimate to 2.52 percent from 2.38 percent on stronger agricultural and services growth.
FBR extends tax return deadline to Oct 14
By Staff Reporter
ISLAMABAD: The Federal Board of Revenue (FBR) has pushed back the deadline for filing income tax returns by two weeks to Oct. 14, as it struggles to meet its tax collection targets, already facing a shortfall of Rs87 billion in the first quarter.
Tax return filers surge 100pc to 3.2 million – FM Aurangzeb
By Staff Reporter
ISLAMABAD: Pakistan’s tax return filers have surged by over 100 percent to 3.2 million, Finance Minister Muhammad Aurangzeb said Sunday, as the government steps up efforts to widen the country’s narrow tax base and shore up its fragile economy.
IMF cautions on Pakistan’s structural challenges
By Staff Reporter
ISLAMABAD: Pakistan’s economic recovery remains fragile, with the International Monetary Fund warning of persistent vulnerabilities and structural challenges that require sustained reform efforts.
Pakistan’s inflation to hold steady at 8-9pc through October
By Staff Reporter
ISLAMABAD: Pakistan’s inflation rate is poised to remain within a range of 8 percent to 9 percent in September and October, building on a recovery that’s gaining traction, the finance ministry said on Friday.
Pakistan gets $1.03 bln first tranche of IMF’s $7 bln bailout package
By Staff Reporter
KARACHI: Pakistan received $1.0269 billion on Friday, the first tranche of a $7 billion International Monetary Fund (IMF) bailout, after the lender’s Executive Board approved a 37-month Extended Fund Facility (EFF) to bolster the country’s fragile economy.
IMF sees ‘formidable’ ricks to Pakistan’s growth prospects
By Staff Reporter
KARACHI: Pakistan’s economy faces significant risks, with “formidable” vulnerabilities and structural challenges threatening growth, the International Monetary Fund (IMF) warned.