By Staff Reporter
ISLAMABAD: Pakistan is in talks with the International Monetary Fund (IMF) for a new six-to-nine-month loan of about $2.5 billion, as it seeks to complete a bailout program that expires at the end of this month.
Economy
IMF talks with Pakistan to ‘quickly reach agreement’ on stalled bailout
By Staff Reporter
ISLAMABAD: Pakistan is awaiting a decision on a stalled bailout programme from the International Monetary Fund (IMF), which said on Tuesday it was holding talks authorities with the aim of “quickly reaching an agreement”.
Pakistan gets second batch of Russian crude oil
By Staff Reporter
KARACHI: Pakistan received its second shipment of Russian crude oil on Tuesday, as part of a deal to import 100,000 tonnes of discounted oil from Moscow to ease its energy crisis.
UPDATE-Stocks soar to highest level in 14 months on IMF hopes
By Staff Reporter KARACHI: Pakistan’s benchmark stock index soared to its highest level in more than 14 months on Monday as investors bet that the
SBP bets on high interest rate to save IMF deal
By Staff Reporter KARACHI: The State Bank of Pakistan (SBP) unexpectedly raised its benchmark rate by 100 basis points to a record high of 22
Pakistan stocks surge on hopes of IMF deal resumption
By Staff Reporter
KARACHI: Pakistan’s benchmark stock index soared to its highest level in more than a month as investors bet that the government’s budgetary measures would revive the stalled International Monetary Fund (IMF) program.
Pakistan clears budget hurdle for IMF loan
By Staff Reporter
ISLAMABAD: Pakistan’s lower house of parliament approved a revised budget for the next fiscal year on Sunday, with additional fiscal tightening to meet the International Monetary Fund’s (IMF) conditions for a $1.2 billion loan tranche.
Government raises advance income tax on vehicles above 2000cc
By Staff Reporter
ISLAMABAD: The government has raised the advance income tax on vehicles above 2000cc and imposed a fixed tax on imported and locally manufactured vehicles from 2001cc to above 3000cc under the amended Finance Bill 2023, according to a document issued by the Federal Board of Revenue (FBR).
Pakistan revises budget to secure IMF bailout
By Staff Reporter
ISLAMABAD: Pakistan has revised its budget for the fiscal year starting on July 1 to include the latest fiscal tightening measures dictated by the International Monetary Fund (IMF) in a final effort to clinch a stalled rescue package, Finance Minister Ishaq Dar said on Saturday.
ECC allows Sindh sugar mills to export 32,000 tons
By Staff Reporter
ISLAMABAD: The cabinet’s Economic Coordination Committee (ECC) approved on Friday the export of 32,000 metric tons of sugar by mills in Sindh province within 60 days and a supplementary grant of Rs250 billion to increase the borrowing limit of the provinces for the current fiscal year.