By Staff Reporter
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) on Friday reached a staff-level agreement for a new $7 billion loan program, providing much-needed relief for the cash-strapped government of Prime Minister Shehbaz Sharif.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced a subsidy package to improve the country’s industry and exports, aimed at reducing the burden on industries and increasing competitiveness in the global market.
By Staff Reporter
KARACHI: Pakistan’s budget for fiscal 2025 targets quicker fiscal consolidation, but the country’s debt affordability remains weak, posing high debt sustainability risks, rating agency Moody’s said on Thursday.
By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb said on Thursday the country expects to reach a staff-level agreement with the International Monetary Fund (IMF) next month, paving the way for a fresh loan to address its economic woes.
By Staff Reporter
ISLAMABAD: Pakistan has set an ambitious tax revenue target of Rs13 trillion for the fiscal year starting July 1, a 40 percent jump from the current year, as it seeks to bolster its case for a new bailout deal with the International Monetary Fund (IMF) worth upto $8 billion.
ISLAMABAD: The intricate process of policymaking is currently centered around a contentious issue: tobacco taxation. As the government delves into its budget-making process, a fierce debate has emerged. Policymakers are grappling with a critical decision—whether to focus on the country’s fiscal framework or to prioritize a health-driven agenda by increasing taxes on the tobacco sector.
By Staff Reporter
ISLAMABAD: S&P Global Market Intelligence expects the State Bank of Pakistan (SBP) to cut its policy rate by the end of June and projects a cumulative 450-basis-point reduction by the end of 2024, following a surprise drop in the monthly inflation rate.
By Staff Reporter
KARACHI: Inflation cooled more than expected in May, hitting a 30-month low and coming in under government forecasts, potentially giving the central bank room to ease policy in the upcoming review.
By Staff Reporter
ISLAMABAD: The government has cut the price of petrol by 5.3 percent to Rs273.10 per liter for the next 15 days, the second cut in a fortnight, providing some relief to consumers reeling from inflation over the past two years.
Pakistan is looking for a multi-year IMF program to help it push through a wide-ranging economic reform package to put its economy on an even keel. By Nusrat Shaheen.
