Banks turn away Letters of Credit as foreign exchange liquidity becomes scarce
Banks are turning away customers with import transactions due to a shortage of foreign exchange in the interbank, informed sources told Profit...
Squabbles, regulation and bans – the state of Pakistan’s mobile manufacturing industry
“The government solution to a problem is usually as bad as the problem.” This maxim by the towering 20th century economist Milton...
Interbank market runs out of dollars
Banks have run out of dollars and are now borrowing from various sources, including their own depositors, to make trade related payments...
Budget needs additional measures to meet goals: IMF
Additional measures will be needed to bring Pakistan’s budget for FY2022-23 in line with the key objectives of its International Monetary Fund...
KP govt unveils Rs1.33tr budget for FY 2022-23
Khyber Pakhtunkhwa (KP) Finance Minister Taimur Saleem Jhagra on Monday presented the provincial budget for FY 2022-23 with a total outlay of...
Budget to trigger storm of inflation, unemployment, warns Tarin
Former Finance Minister and Pakistan Tehreek-e-Insaf (PTI) Shaukat Tareen has hinted that the government proposed budget 2022-23 would trigger a storm of...
IMF program likely to revive after budget: Miftah Ismail
Finance minister has said that staff level agreement with the International Monetary Fund is likely to be revived after the budget as...
Coalition govt to present Rs9.5tr budget on Friday
Prime Minister Shahbaz Sharif led coalition government will present Rs9.5 trillion budget for fiscal year 2022-23 on Friday.
As per the details, finance...
BUDGET: Govt to raise tax on online gaming, social media apps
The federal government is considering over a proposal to increase tax on income made through social media platforms including TikTok, YouTube and...
Moody’s changes Pakistan’s outlook to negative from stable
Moody's Investor Service on Thursday downgraded Pakistan's outlook from stable to negative, citing "heightened external vulnerability" and uncertainty around securing external financing...
Finance division indicates reduction in PSDP for 2022-23
Despite the Ministry of Planning’s earlier announcement of Rs700 billion Public Sector Development Programme (PSDP) for next financial year, the Finance Division...
IMF deal to be finalized next month, says Miftah
Minister for Finance and Revenue, Miftah Ismail here on Saturday said that the staff level agreement with International Monetary Fund would be...
Pakistan’s external financing gap could rise to $8bn: Morgan Stanley
The outlook for Pakistan is worsening, says Morgan Stanley in a report released on Friday. The country has “underperformed significantly since February”,...
Govt jacks up petroleum prices on IMF demand
Finance Minister Miftah Ismail announced Thursday the country's biggest-ever Rs30 per litre hike in the price of petroleum products to fulfill the...
Govt committed to IMF programme revival: Miftah
Finance Minister Miftah Ismail has said that the government is committed to reviving the International Monetary Fund (IMF) programme and putting the...