IMF stunned by Pakistan’s economic recovery in just 14 months: Finance Minister
ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said that the government’s reform agenda was discussed with the International Monetary Fund, the IMF is surprised at how the economy has managed in 14 months. The finance minister said during the news conference that he is in contact with the International Monetary
PSX KSE-100 Index hits another all-time high
KARACHI: The Pakistan Stock Exchange (PSX) on Friday continued its momentum as investors responded positively to reported progress in ongoing talks with the global lender. A buying momentum was witnessed at the PSX’s benchmark KSE-100 Index gaining by 594 points to hover at record breaking level of 94,786 points, surpassing
KSE-100 Index crosses 94,000 points again
KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed a strong rally as investors responded positively to reported progress in ongoing talks with the global lender. A buying momentum was witnessed at the PSX’s benchmark KSE-100 Index gaining by 713 points to hover at 94,068 points, surpassing the previous 94,00
Pakistan and IMF agree to avoid mini-budget: report
ISLAMABAD: Pakistan’s economic team and the Internal Monetary Fund (IMF) team agreed that there would be no mini-budget and no general sales tax on petroleum products on Wednesday. According to sources, the government’s economic team has assured the IMF that the agricultural tax will be collected from next year. The
PSX KSE-100 index hits new all-time high
KARACHI: The Pakistan Stock Exchange (PSX) started the week on a high note, with the benchmark KSE-100 Index hitting a new all-time record on Monday. During intra-day trading, the index soared by 526 points to past the 94,000-point mark for the first time in history. This strong performance followed a
IMF mission to visit Pakistan from 11 to 15 November
The International Monetary Fund (IMF) mission, led by Nathan Porter, will visit Pakistan from November 11 to 15. During its visit, the mission will evaluate Pakistan’s progress on the $7 billion loan approved in September, which included a first tranche of Special Drawing Rights (SDR) 760 million, equivalent to $1.03
State Bank of Pakistan cut its key policy rate
The State Bank of Pakistan (SBP) has announced a cut to its key policy rate by 250 basis after inflation dropped to single digit. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basispoints to 15 percent, effective from November 5, 2024″,
Pakistan formally requests ¥10 billion loan extension from China
Pakistan has formally requested an additional CN¥10 billion (approximately $1.4 billion) loan from China to address the balance of payment crisis. Finance Minister Muhammad Aurangzeb presented this request to China’s Vice Minister of Finance Liao Min during the recent IMF/World Bank meetings in Washington, where he also proposed increasing the
Government imposes new restrictions on non-filers
Pakistan’s Finance Minister, Muhammad Aurangzeb, recently announced new restrictions on property and vehicle purchases for non-filers as part of broader economic reforms. Speaking at a press conference in Washington, he highlighted that these difficult decisions are necessary to drive long-term improvement, according to Express News. Aurangzeb explained that Pakistan aims
FBR gets data of rich Pakistani tax evaders
The Federal Board of Revenue (FBR) has begun receiving data of rich Pakistani tax evaders from the National Database and Registration Authority (Nadra) in compliance with IMF instructions to broaden the tax base. To this effect, FBR has received data pertaining to property ownership, bank accounts, and luxury vehicles, of
