By Staff Reporter
ISLAMABAD: Pakistan is on track with the conditions of an IMF bailout programme and the country has completed all prior actions needed for disbursement of next chunk of aid in August, finance minister said on Wednesday.
Economy
Toyota, Suzuki to shut Pakistan’s assembling units on import restrictions
By Staff Reporter
KARACHI: Car assemblers in Pakistan, Toyota and Suzuki, planned plant shutdowns next month as unavailability of raw material amid government’s import restrictions hit productions, officials said.
Current account deficit reaches $17.4 billion in FY22
By Staff Reporter
KARACHI: The current account deficit surged to a 4-year high of $17.4 billion in the fiscal year of 2021-22 on soaring cost of energy imports, central bank’s data showed.
No unbudgeted energy subsidies for export industries
The economic managers are determined to stay on-budget this fiscal – in line with a commitment made with the IMF. Mohammad Ali ISLAMABAD: The Ministry
Pakistan gets foreign loans of $22.5 billion in last fiscal
By Staff Reporter
ISLAMABAD: Pakistan borrowed $22.5 billion in the last fiscal year to plug the current account deficit and to pay back maturing debts.
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division. - PID
ECC approves RLNG rate of $9 per MMBTU for export-oriented industry
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday increased RLNG rate to $9 per MMBTU from from $6.5 for five export-oriented industry from existing gas connections.
Pakistan less vulnerable to external shocks, “no need for panic” : SBP
By Staff Reporter
KARACHI: The central bank is seeking to reassure the countrymen that Pakistan is not among the most vulnerable countries in the world, “so its citizens do not need to panic”, even though rupee witnessed its biggest weekly plunge since 1998.
Govt hikes electricity base prices by Rs7.91/unit to win IMF’s bailout
By Staff Reporter
ISLAMABAD: Electricity tariffs across Pakistan are expected to rise by Rs7.91 per unit in three phases to win an IMF bailout program, a regulator said on Friday.
Did fuel imports put the rupee in a tailspin?
By Mohammad Ali
ISLAMABAD: Replenishing fossil fuel reserves at peak prices in the months of May and June 2022 cost Pakistan USD 6.2 billion, deepening the sever balance of payment crisis, Independent Pakistan can report.
Elite capture a major ill of Pakistan’s economy, says Atif Mian
By Ahmer Kureishi
ISLAMABAD: Stop gap measures aside, Pakistan cannot puts its economy in order without first plugging runaway elite capture, says Pakistani-American economist Atif Rehman Mian, the first person of Pakistani origin to rank among the top 25 young economists of the world.