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.
Economy
Inflation rises in December, but core pressures ease
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.
2023: A year of roaring inflation
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.
Economy shrinks, inflation soars in ‘extraordinarily challenging’ FY23, SBP says
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.
Forex reserves hit four-month high on official inflows
By Staff Reporter
KARACHI: The foreign exchange reserves climbed to the highest level in four months, bolstered by official inflows from lenders and allies, easing pressure on the country’s balance of payments.
‘Debt burden and inflation weigh on Pakistan’s economy’
By Staff Reporter
ISLAMABAD: The finance ministry said on Wednesday that the country faced a persistent challenge of high debt payments, as the government’s current spending soared by 44 percent in the first four months of the fiscal year, driven by a surge in interest costs.
Government borrows more than double from banks despite IMF, bilateral loans
By Staff Reporter
KARACHI: The government has borrowed more than twice as much from banks in the first half of the current fiscal year as it did in the same period last year, as it struggles to cope with soaring inflation and debt servicing costs, central bank data showed.
Exports surge 33pc in December, boosting trade balance
By Staff Reporter
ISLAMABAD: The trade sector posted a significant improvement in the first 20 days of December, with exports rising by 33.1 percent and imports falling by 12.8 percent year-on-year, the Ministry of Commerce said.
Stocks suffer worst fall in history as investors flee amid political chaos and IMF fears
By Staff Reporter
KARACHI: Stocks plunged more than 4 percent on Tuesday, posting their biggest single-day drop in history, as investors dumped shares amid political uncertainty and reports of a possible IMF intervention in the country’s circular debt crisis.
Pakistan mulls massive drive to nab tax dodgers
Pakistan’s abysmal tax compliance rate has been a constant source of worry for the authorities, but the problem has remained too hot to handle for successive governments. That may be about to change under the caretaker government headed by PM Anwar-ul-Haq Kakar. By Muhammad Ali.