Refineries respond to questions on importing Russian oil
KARACHI: In separate letters on Friday, oil refineries responded to the Ministry of Energy on the question whether it is possible to...
SBP pauses disbursements under Mera Pakistan Mera Ghar low-cost housing scheme
The State Bank of Pakistan (SBP) instructed banks to put on hold further disbursements under Mera Pakistan Mera Ghar (MPMG) scheme till...
CAD widens to $1.425bn, up 131pc over last month
KARACHI: As per data released by the State Bank of Pakistan (SBP), the current account deficit clocked in at $1.425bn for the...
FBR’s revenue collection surges to record Rs6,000bn
ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs6,000 billion against the budgeted target of Rs5,829 billion set for the...
PSO struggles with oil imports as foreign banks remain distrustful
Pakistan's oil imports have been hit by the continuing crisis of a lack of trust by international sellers in letters of credit...
Pakistan receives MEFP from IMF for 7th, 8th reviews
Pakistan has received the Memorandum of Economics and Financial Policies (MEFP) from the International Monetary Fund (IMF).
Finance minister Miftah Ismail tweeted "Early...
US dollar declines in open market amid interbank gains
ISLAMABAD: The value of the US dollar moved in opposite directions in the interbank and open bank markets on Monday, with the...
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...