A panel of experts has been appointed to ensure operational readiness for exchange-tradable government debt securities. By Muhammad Ali.
Economy
Banks on the hook for windfall tax
Pakistan’s fat-cat bankers may finally be on the hook to fork out part of the bonanza of profits they have been pocketing since the onset of the Covid-19 global pandemic. By Muhammad Ali.
Pakistan, IMF near conclusion of SBA review as Fund chief heralds debt relief
A staff level agreement expected Wednesday evening may require Pakistan to hike power tariff and arrange USD 2 billion in external financing. By Muhammad Ali.
SIFC, with military role, faces IMF’s scrutiny
By Staff Reporter
ISLAMABAD: Pakistan’s newly created Special Investment Facilitation Council (SIFC) to attract foreign investors has come under scrutiny from the International Monetary Fund (IMF), which has advised the country to avoid creating distortions or preferential treatment in its business deals, Dawn newspaper reported on Wednesday.
Pakistan taps Ernst & Young to lead PIA sale by January 2024
By Staff Reporter
ISLAMABAD: The Privatization Commission (PC) said on Friday that it had approved the appointment of a British consortium led by Ernst & Young as the financial adviser for the privatization of the loss-making Pakistan International Airlines (PIA) by the end of January 2024.
Stocks soar above 55,000 points, defy gravity
By Staff Reporter
KARACHI: Stocks soared to a new record high on Friday, crossing the 55,000 level for the first time, as investors anticipated a cut in the policy rate and welcomed the progress in the talks with the International Monetary Fund (IMF).
Remittances rise to seven-month high of $2.5bn in October
By Staff Reporter
KARACHI: Remittances increased to a seven-month high of $2.5 billion in October, up 12 percent from the previous month and 10 percent from a year ago, as migrant workers sent more money home through legal banking channels, central bank data showed on Friday.
Pakistan hopes to seal Saudi deal for Reko Diq mine by December
By Staff Reporter
ISLAMABAD: Pakistan’s caretaker prime minister said his government hopes to conclude a deal by December for Saudi Arabia to buy stakes in one of the world’s biggest gold and copper mining projects, as the kingdom seeks to diversify its economy and secure supplies of key metals.
FBR tax goal under IMF scrutiny over import slump, legal hurdles
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has cast doubt on Pakistan’s ability to meet its ambitious tax collection goal for the current fiscal year, as lower imports and legal challenges pose risks to revenue growth, officials said on Friday.
Pakistan, IMF start first review of $3 billion loan program
By Staff Reporter
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) began the first review of a $3 billion bailout package on Thursday, with both sides expressing early satisfaction over the country’s progress in meeting the fiscal and monetary targets set by the lender.