By Staff Reporter
ISLAMABAD: Trade deficit has widened to a record $43.33 billion in July-May on high oil import bill, which may further worsen the current account balance and devalue the rupee.
Economy
Moody’s downgrades Pakistan’s outlook to ‘negative’ from ‘stable’
By Staff Reporter
KARACHI: Rating agency Moody’s Investors Service downgraded Pakistan outlook to negative from stable on Thursday, citing higher fiscal risks due to a delay in the revival of International Monetary Fund’s bailout programme
Inflation soars in May
By Staff Reporter
ISLAMABAD: Consumer inflation jumped to over 2-year high of 13.76 percent in May fuelled by rising energy and food rates as high prices of imported fuels compounds the impact of the rupee’s plunge this year, , official data showed.
Economic risk: Saudi Arabia, Dubai won’t lend without IMF deal: FM
By Staff Reporter
KARACHI: Pakistan’s finance minister said countries that have typically been generous in lending to the crisis-hit nation are proceeding more cautiously now.
PKR 2.5-bn tax exemption for Saudi projects
By Staff Reporter
ISLAMABAD: Pakistan has granted a foreign donor’s contractors a PKR 2.5-billion tax exemption as part of bilateral treaty obligations, Independent Pakistan can report.
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division- 28-05-2022.
Strategic Stock: ECC gives assent to wheat, urea import
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Saturday green-signalled the import of 3 million tonnes of wheat and 200,000 tonnes of Chinese urea to build strategic stocks to cushion any supply shocks.
Done Deal? Finmin sees IMF staff-level agreement in June
By Staff Reporter
ISLAMABAD: The government is well-positioned to cut a staff-level deal with the International Monetary Fund (IMF) next month, the country’s finance, said on Saturday, making a headway toward reclaiming a nearly lost bailout loan.
Islamabad. Federal Finance Minister Miftah Ismail addressing an important press conference.
Pakistan drives up fuel prices to dodge default
Staff Reporter
ISLAMABAD: A default-threatened PML-N government took its most reluctant plunge and raised fuel prices to pave the way for an IMF bailout, ignoring the political cost of the move.
IMF to wait and see the next budget before bailout revival
By Staff Reporter
ISLAMABAD: With Pakistan and the International Monetary Fund (IMF) deadlocked over the issue of energy subsidies, the revival of a suspended Fund bailout will have to wait until after the approval of the national budget for the next fiscal, it became clear late Wednesday.
Former govt’s growth strategy on Sharif’s kill list
By Staff Reporter
ISLAMABAD: Three-Year Rolling Growth Strategy, a brainchild of the PTI government, evolved to reorient policies and incentive structures for the private sector, is on Shehbaz regime’s list.