KARACHI: The central bank projected economic growth will likely hover near the lower end of its forecast for the fiscal year ending June 2026, while warning that inflation could exceed its target range in the coming months amid lingering macroeconomic risks.
Economy
Petrol down Rs5.66 per liter, diesel Rs1.39
ISLAMABAD: The government cut fuel prices late Wednesday, offering relief to consumers grappling with high living costs in a move that could temporarily ease inflationary pressures.
FBR grants second extension, sets Oct. 31 tax filing cutoff
ISLAMABAD: The Federal Board of Revenue (FBR) extended the deadline for filing income tax returns for the 2025 tax year by 16 days, setting October 31 as the new cutoff, according to a notification issued on Wednesday.
Pakistan’s economy to grow 3.6% in FY25, IMF says; inflation, deficit to rise
KARACHI: The International Monetary Fund expects Pakistan’s economy to grow 3.6% for the current fiscal year, even as it projected higher inflation and a widening current account deficit, though the estimates exclude the still-unassessed damages from recent floods.
Pakistan reaches IMF staff-level deal on loans, unlocking $1.2 billion
KARACHI: Pakistan reached a staff-level agreement with the International Monetary Fund (IMF) on its bailout programs, paving the way for the release of $1.2 billion once approved by the lender’s board.
Pakistan expects IMF staff-level deal this week to unlock $1.24 billion tranche
ISLAMABAD: Pakistan is on track to sign a staff-level agreement with the International Monetary Fund this week, Finance Minister Muhammad Aurangzeb said, clearing a hurdle for the release of $1.24 billion in funding from the lender.
Pakistan, IFC discuss Reko Diq financing as FM Aurangzeb pushes for faster project execution
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Monday held talks with officials from the International Finance Corporation and the Islamic Development Bank aimed at boosting private sector investment and speeding up infrastructure projects, while inviting US firms to invest in key sectors during meetings in Washington.
FM Aurangzeb departs for Washington to push IMF staff-level deal on bailout reviews
ISLAMABAD: Finance Minister Muhammad Aurangzeb departed for Washington to attend the annual meetings of the International Monetary Fund and World Bank, as Islamabad pushes for a quick staff-level agreement on reviews of its $8.4 billion in loans from the lender.
SBP bought $7.8 billion in dollars to avert costly debt
KARACHI: The central bank bought $7.8 billion of dollars from the interbank market over the past year, a move that helped avoid heavier foreign borrowing at elevated rates and lifted foreign exchange reserves fivefold in about two-and-a-half years.
Nepra fines K-Electric Rs25 million over 2023 grid failure
ISLAMABAD: The National Electric Power Regulatory Authority imposed a Rs25 million penalty on K-Electric Ltd., holding the power utility accountable for exacerbating a nationwide blackout that plunged the country into darkness for nearly a day.