By Staff Reporter
KARACHI: Pakistan secured a $700 million loan from the International Monetary Fund on Thursday, the second tranche of a $3 billion loan program that aims to shore up its foreign exchange reserves and currency ahead of a national election in February.
By Staff Reporter
ISLAMABAD: Pakistan’s economy will grow at a sluggish pace of 1.7 percent in the current fiscal year, as tight monetary and fiscal policies and political uncertainty weigh on domestic demand, the World Bank said in a report on Wednesday.
By Staff Reporter
KARACHI: Pakistan received $2.4 billion in remittances from its overseas workers in December, up 13.4 percent from a year earlier, as a stable currency and improved economic outlook encouraged more inflows through official channels, the central bank data showed on Wednesday.
By Staff Reporter
ISLAMABAD: Pakistan is in talks with Saudi Arabia and the United Arab Emirates to secure additional oil and financial assistance to shore up its foreign exchange reserves ahead of a crucial IMF review and prepare for a general election next month.
By Staff Reporter
ISLAMABAD: The interim government launched a Rs2 billion fund on Tuesday to support startups in the country, which saw a sharp drop in investment last year due to high interest rates.
Pakistan’s tax authorities seized 16 million sticks of illegal cigarettes on a single day in November, in what they claimed was a historic raid against the rampant tobacco smuggling and evasion that costs the country billions of rupees in lost revenue every year.
By our correspondent
ISLAMABAD: Pakistan is set to receive the next tranche from the International Monetary Fund, as the global lender’s executive board prepares to discuss the country’s economic performance on January 11.
By Staff Reporter
ISLAMABAD: The inflation edged higher in December, keeping up a year-long streak of soaring prices, but a retreat in core pressures could open the door for the central bank to loosen its grip on rates in the next policy meeting.
The common Pakistani spent the year grunting under the burden of unprecedented economic hardship because of stellar inflation, with profiteers sharing not a little of the blame, along with officials asleep at the wheel. Will 2024 be any different? By Muhammad Ali.
By Staff Reporter
KARACHI: The central bank said on Friday that the fiscal year 2023 was “extraordinarily challenging” as the country faced a host of shocks that pushed inflation to multi-decade highs and contracted the economy amid political uncertainty.
