By Staff Reporter
KARACHI: Pakistan’s current account deficit yawned by 131 percent month-on-month (MoM) in May, as overseas workers’ remittances and exports decreased, outpacing a downtick in imports, the central bank data showed on Tuesday.
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Loans, grants fall 27pc to $505mn in May
By Staff reporter
ISLAMABAD: Inflows of dollars in the form of loans/grants shrank 27 percent to $505 million in May 2022 from $699 million in the same month last year, data showed on Tuesday, creditable to the IMF’s freezing of its loan programme.
IMF places new obstacle course before staff-level deal
By Staff Reporter
ISLAMABAD: The IMF is yet to disclose the exact size of the renewed loan programme though it did mention in its Memorandum of Economic and Financial Policies (MEFP), handed to Pakistan early on Tuesday, about extending its time frame.
Dar to return home in July to make Miftah redundant
By Staff Reporter
ISLAMABAD: Ishaq Dar, the former and believed by some to be the de facto finance minister is said to be coming home in July 2022 to first win a court battle and then join the federal cabinet to replace Miftah Ismail, the incumbent economic executive, it is learnt.
Profit repatriation rises to $1.6 billion in July-May FY2022
By Staff Reporter
KARACHI: Multinational companies’ (MNCs) profit and dividends on their investment rose by 6.95 percent in the first 11 months of current fiscal year, the central bank data showed on Monday.
BRICS: India suspected of locking Pakistan out of non-members meeting
By Staff Reporter
ISLAMABAD: Voicing its strongest condemnation, the Foreign Office (FO) on Monday said Pakistan’s participation in a virtual High-Level Dialogue on Global Development on the sidelines of BRICS meetings was barred by a member country with a mala fide intent.
Pakistan signs debt suspension deal with France
By our correspondent
ISLAMABAD: The government on Monday signed a debt service suspension agreement with France amounting to suspension of loan worth $107 million, under the G-20 Debt Service Suspension Initiative (DSSI) framework.
PM launches public-private panel to spur economic activities
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif has tacked together a powerful new panel that brings together federal ministers, lawmakers, and business tycoons to join heads for the promotion of commercial activities in the country, a statement said on Monday.
IMF Target: Rs10/litre petroleum levy on fuels likey from July
By Staff Reporter
ISLAMABAD: Inflationary fires are set to get worse as the government is weighing slapping Rs10/litre Petroleum Levy on fuels from July 1 as the IMF insists it is critical to cut a staff-level deal for the resumption of a suspended loan, Independent Pakistan has learnt.
PYLONS, SUNSET, SILHOUETTE: Image courtesy of Pixabay
Power tariffs rise come July 1
By Naveed Naqvi
ISLAMABAD: Come July 1, the price of electricity – that ubiquitous and most essential utility of our time – will climb even higher for households and businesses across much of Pakistan.