By Staff Reporter
ISLAMABAD: Pakistan has allowed 100,000 tonnes of sugar exports, the finance ministry said on Thursday, as it seeks to generate foreign exchange for state coffers and revenue for cash-hungry mills.
Micro
IMF says having ‘productive’ talks with Pakistan as part of program review
By Staff Reporter
ISLAMABAD: The International Monetary Fund said it was having ‘productive’, ongoing discussions with Pakistan as part of a ninth program review of a $7 billion rescue package.
Top court clears Reko Diq deal
By Naveed Naqvi
ISLAMABAD: Supreme Court of Pakistan has cleared the way for the start of mining work at the Reko Diq project, one of the world’s top underdeveloped sites of copper and gold deposits, after it endorsed a settlement agreement between Canadian firm Barrick Gold and the Pakistani government on Friday.
Dar says won’t take IMF dictation
By Staff Reporter
KARACHI: Finance minister Ishaq Dar on Friday said he will not take dictation from the International Monetary Fund (IMF) on managing the country’s finances and would prioritise Pakistan’s economic interests.
Saudi Arabia extends $3bln deposit term to Pakistan
By Staff Reporter
KARACHI: Saudi Arabia extended the term of a $3 billion deposit it made to Pakistan’s foreign reserves, the central bank said on Friday.
Trade deficit shrinks on weak imports
By Staff Reporter
ISLAMABAD: Imports fell by almost a quarter in July-November period of the current fiscal year of 2022-23 after a ban on non-essentials good, narrowing the trade gap by 30.14 percent to $14.4 billion, official data showed.
Headline inflation eases in November, core inflation up
By Staff Reporter
ISLAMABAD: Consumer price inflation slowed to 23.8 percent in November as aggressive policy tightening dampened demand, official data showed on Thursday.
SBP surprises with 100bp rate hike to tame inflation, ready for more action
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Friday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first South Asian country to make such an aggressive hike in this economic cycle.
Dar says no chance of default, payments on time
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.
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.