By Staff Reporter
KARACHI: Finance minister Ishaq Dar on Friday said he will not take dictation from the International Monetary Fund (IMF) on managing the country’s finances and would prioritise Pakistan’s economic interests.
Economy
An undated photo of Pak Secretariat building. Image courtesy of Ministry of Parliamentary Affairs Facebook page.
ECC greenlights import of urea, additional funds for SDGs
The elite cabinet panel’s nod paves the way for these measures to be tabled for Cabinet approval. By Muhammad Ali.
Saudi Arabia extends $3bln deposit term to Pakistan
By Staff Reporter
KARACHI: Saudi Arabia extended the term of a $3 billion deposit it made to Pakistan’s foreign reserves, the central bank said on Friday.
Trade deficit shrinks on weak imports
By Staff Reporter
ISLAMABAD: Imports fell by almost a quarter in July-November period of the current fiscal year of 2022-23 after a ban on non-essentials good, narrowing the trade gap by 30.14 percent to $14.4 billion, official data showed.
Headline inflation eases in November, core inflation up
By Staff Reporter
ISLAMABAD: Consumer price inflation slowed to 23.8 percent in November as aggressive policy tightening dampened demand, official data showed on Thursday.
Taxman tops 5-month revenue target
The development may just have bolstered the position of Finance Minister Dar vis-à-vis the IMF that the government can stay on-budget in fiscal year 2022-23 and needs not raise additional resources. By Muhammad Ali.
Govt keeps domestic fuel prices unchanged
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif’s government on Wednesday decided to keep domestic prices of gasoline and diesel unchanged until December 15, finance minister Ishaq Dar said.
Tobacco crop. Image courtesy of Pakistan Tobacco Board (PTB)
New MIPs set for tobacco crop of 2023
The prices, okayed by the ECC, are indicative and do not entail any financial obligation on the part of the federal government. By Staff Reporter.
Fast-tracked: Pakistan’s $1 billion sukuk repayment
The hard-currency outflow has been financed from multilateral and bilateral sources and will not affect the country’s forex reserves. By Staff Reporter.
SBP surprises with 100bp rate hike to tame inflation, ready for more action
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Friday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first South Asian country to make such an aggressive hike in this economic cycle.