By Staff Reporter
KARACHI: The State Bank of Pakistan’s held foreign exchange reserves dropped 8.1 percent to $8.575 billion in the week ended July 22, as the country struggles to manage a long-simmering debt crisis, latest data showed on Thursday.
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Political turmoil taking its toll on the economy, says Finance Ministry
Inflationary and external sector risks – along with “political unrest” – are contributing to an uncertain economic outlook, says the July Monthly Economic Update &
Parliament astir to defend right to legislate
The sovereign house has emphasised the trichotomy of powers enshrined in the Constituent and appointed a committee to lead requisite reforms. By Staff Reporter ISLAMABAD:
Govt plans increasing petroleum levy to unlock IMF funds
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.
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.
Justice Isa objects to ‘illegal and unconstitutional’ JCP meeting
In a letter to the Judicial Commission of Pakistan, Supreme Court’s senior puisne judge Justice Qazi Faez Isa says the meeting called for July 28
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
Pervez Elahi declared Chief Minister Punjab
The Supreme Court has handed Pakistan’s most populous province to an ally of former Prime Minister Imran Khan as it ruled in an electoral dispute.
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.