ISLAMABAD: The International Monetary Fund has set Pakistan’s federal revenue target for fiscal 2027 at Rs17.145 trillion — a 13.5% increase from the current year — backed by Rs430 billion in fresh budgetary and administrative measures and an 18% rise in the petroleum levy, according to its staff report on the completion of the third review under the $7 billion Extended Fund Facility and the second review under the $1.4 billion Resilience and Sustainability Facility.
Economy
Pakistan cuts petrol, diesel prices by Rs5 a liter effective Saturday
ISLAMABAD: The government reduced retail prices of petrol and high-speed diesel by 5 rupees a liter, the Petroleum Division said in a notification issued late on Friday.
SBP sees record remittances topping $41 billion this year despite export slip
KARACHI: The central bank expects workers’ remittances to exceed a record $41 billion in the fiscal year ending June 2026, Governor Jameel Ahmad said on Friday, even as exports weaken and global uncertainty clouds the outlook.
ADB and AIIB help Pakistan sell debut Panda bond to fund green infrastructure
KARACHI: The Asian Development Bank and the Asian Infrastructure Investment Bank joined forces to back Pakistan’s inaugural sale of a yuan-denominated Panda bond, providing fresh financing for the country’s Sustainable and Green Infrastructure Project, the ADB said on Friday.
FM Aurangzeb says Panda bond opens sustainable funding platform for Pakistan
ISLAMABAD: Pakistan completed its first-ever Panda bond issuance in China’s onshore capital market, raising CNY 1.75 billion ($250 million) in a deal that was oversubscribed and drew strong demand from Chinese investors.
Pakistan to publish redacted civil servant asset declarations to meet IMF benchmarks
ISLAMABAD: The government said on Thursday it will make asset declarations filed by civil servants publicly accessible in redacted form, fulfilling a key governance commitment under its International Monetary Fund program while balancing transparency with personal privacy.
Pakistan raises $250 million in debut Panda bond, drawing demand more than five times oversubscribed
KARACHI: Pakistan sold its first yuan-denominated Panda bond in China’s onshore capital market on Thursday, raising the equivalent of $250 million at a coupon of 2.5 percent in a sale that drew orders exceeding five times the amount offered.
Finance ministry rejects claims deputy PM Dar was handed budget duties
ISLAMABAD: The finance ministry on Thursday dismissed as “misleading” and “factually incorrect” a media report that Prime Minister Shehbaz Sharif had transferred responsibility for preparing the federal budget to Deputy Prime Minister and Foreign Minister Ishaq Dar.
Finance minister Aurangzeb pitches structural overhaul to IMF ahead of budget talks
ISLAMABAD: Finance Minister Muhammad Aurangzeb met a visiting International Monetary Fund mission in Islamabad on Wednesday to review preparations for the upcoming federal budget and outline the government’s structural reform priorities, the finance ministry said.
Pakistan economy reaches $452.1 billion in FY2026; per-capita income rises to $1,901
ISLAMABAD: Pakistan’s economy expanded at a slower pace than forecast in fiscal 2026, with gross domestic product growing a provisional 3.7 percent for the year through June, the government said on Wednesday, trimming its earlier projection of 4 percent.