By Staff Reporter
KARACHI: Pakistan may face a risk of default if it fails to secure an International Monetary Fund (IMF) bailout loan, as the country’s financing options beyond June are uncertain, Moody’s Investor Service said on Tuesday.
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Pakistan’s ninth review not on IMF board’s agenda for upcoming meetings
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) Executive Board has scheduled meetings until May 17, with the notable exclusion of Pakistan on the agenda as the country’s ninth review under the Extended Fund Facility (EFF) programme remains pending.
Provincial surplus fails to offset Pakistan’s mounting fiscal deficit
By Staff Reporter
ISLAMABAD: Pakistan’s fiscal deficit continues to pose economic challenges, reaching 3.7 percent of GDP or Rs3.078 trillion in the first nine months of the current fiscal year (July-March 2023), despite a provincial surplus of Rs456 billion.
IMF to review Pakistan’s bailout once external financing secured
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) is collaborating with Pakistani authorities to complete the ninth review of a stalled bailout program, the Fund’s mission said on Friday.
Pakistan’s subsidy policy now subject to IMF approval
By Staff Reporter
ISLAMABAD: Pakistan has agreed to seek approval from the International Monetary Fund (IMF) before providing any additional subsidies, local media reported on Thursday.
Pakistan’s trade deficit shrinks by almost 40pc in ten months
By Staff Reporter
ISLAMABAD: Pakistan’s trade deficit has shown a significant reduction of 39.62 percent, amounting to $23.713 billion, during the initial ten months of the current fiscal year.
Pakistan overtakes Sri Lanka to become Asia’s inflation leader
By Staff Reporter
ISLAMABAD: Pakistan has surpassed Sri Lanka to become Asia’s fastest inflationary economy, with rising food and energy costs and a weaker currency driving price gains to a record in April, government data showed on Tuesday.
Food, energy prices skyrocket, Pakistan faces record inflation levels in April
By Staff Reporter
ISLAMABAD: Pakistan’s Finance Ministry has projected that inflation in April could reach an unprecedented range of 36 percent to 38 percent year-on-year due to a surge in food and energy prices, as well as the effects of a weakened currency.
ECC approves double-digit price hike for general and essential medicines
By Staff Reporter
ISLAMABAD: The government on Friday approved an increase in retail prices for both general and essential medicines, with the latter rising by up to 14 percent and the former by as much as 20 percent.
New taxation measures on tobacco could backfire for govt’s revenue goals
By News Desk
If the government’s move to institute new taxation measures through a minibudget was aimed at raising more revenue to plug the yawning budget deficit, it may well prove counterproductive – at least as far as it concerns the tobacco sector.