By Staff Reporter
Pakistan has agreed to nine key reforms as part of a $3 billion stand-by arrangement with the International Monetary Fund, local media reported on Tuesday.
Top Stories
Pakistan slashes trade deficit by 43pc in FY23 amid import curbs
By Staff Reporter
ISLAMABAD: Pakistan’s trade deficit shrank by 43 percent to $27.55 billion in the fiscal year 2023, data from the Pakistan Bureau of Statistics (PBS) showed on Monday, as the government curbed imports to cope with low foreign exchange reserves.
PM Sharif calls on Sweden to take action against Holy Quran desecrator
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday called on Sweden to take action against a man who desecrated the holy Quran in Stockholm last week and demanded a thorough investigation into the incident.
IMF deal sparks biggest single-day gain in stocks history
By Staff Reporter
KARACHI: Pakistan’s main stock index surged to a record single-day trade on Monday after the country secured a $3 billion stand-by arrangement from the International Monetary Fund (IMF) to support its dollar-starved economy.
Textile exports plunge 15 percent in FY23
By Staff Reporter
ISLAMABAD: Pakistan’s textile exports plunged 15 percent to $16.51 billion in the fiscal year 2022/23, missing a target of $24 billion, as high energy costs and import restrictions hurt the industry, official data showed on Monday.
Moody’s says Pakistan’s IMF deal eases liquidity risk, but challenges remain
By Staff Reporter
KARACHI: Pakistan’s agreement with the International Monetary Fund (IMF) for a $3 billion stand-by arrangement will provide some relief for its strained public finances, but the country faces significant hurdles to sustain economic stability and growth, Moody’s Investors Service said on Monday.
Pakistan’s dollar-bonds rally after IMF deal
Barclays upgraded its outlook on Pakistan’s sovereign-dollar bonds to ‘market weight’ from ‘underweight’, and recommended buying the 2025, 2026, 2027 and 2031 maturities.
Inflation falls to seven-month low of 29.4pc in June after rate hike, fuel cuts
By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 29.40 percent in June, the lowest level in seven months, as record-high interest rates and lower fuel prices curbed consumer demand and commodity costs, official data showed on Monday.
IMF rescue package sparks historic surge in Pakistan stocks
The benchmark KSE-100 index jumped 5.5 percent or 2,269 points in less than 10 minutes of its opening, breaching the 5 percent movement barrier that triggers a suspension of trading for an hour.
Pakistan’s new debt management strategy aims to reduce risk, diversify portfolio
The country plans to issue 10- to 15-year bonds and secure concessional loans to meet its external financing needs, as part of a new Medium-Term Debt Management Strategy for fiscal years 2023 to 2026 that aims to reduce risk and diversify its portfolio.