By Staff Reporter
KARACHI: Pakistan’s foreign direct investment (FDI) fell 43 percent to $59 million in July from $103.8 million same period last a year ago, the central bank data showed on Wednesday.
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Qatar plans to invest $3 billion in Pakistan
By Staff Reporter
ISLAMABAD: Qatar’s sovereign wealth fund plans to invest $3 billion Pakistan, the ruler’s office said on Wednesday, extending its support to the cash-strapped economy of the South Asian country.
Current account deficit narrows to $1.21 billion in July
By Staff Reporter
KARACHI: Current account deficit narrowed to $1.21 billion, in the first month of the fiscal year that began July 1 from $2.187 billion in the previous month, boosted by a sharp cut in imports, the central bank said in balance of payments figures released on Wednesday.
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.
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.