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International Monetary Fund

IMF Report: Pakistan’s growth to stay at 3.6%, Inflation may rise again

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IMF Report: Pakistan’s growth to stay at 3.6%, Inflation may rise again

ISLAMABAD: The International Monetary Fund (IMF) has warned that Pakistan may face a new wave of inflation in the coming year as energy subsidies end and power tariffs return to normal levels. In its Middle East and Central Asia Regional Economic Outlook, the IMF projected that inflation could rise again in fiscal year 2025–26, while … Read more

Pakistan achieves FY2024-25 tax target set by IMF

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IMF rejects tax relief on foreign investment projects

ISLAMABAD: Pakistan has successfully met the primary tax targets outlined by the International Monetary Fund (IMF), on Friday. The country achieved a tax-to-GDP ratio of 10.8%, surpassing the IMF’s target of 10.6% for the current fiscal year, a development that paves the way for Islamabad to secure the second tranche of the loan program. Finance … Read more

NADRA Shares Information on Rich Pakistanis Avoiding Taxes

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Govt revenue increases due to higher excise duties

FBR receives data from National Database Regulatory Authority (NADRA) on 195,000 affluent Pakistanis avoiding taxes. Data includes bank account details, property ownership records, and luxury vehicle registrations. The FBR plans to target these individuals for tax collection. In response to the International Monetary Fund (IMF) demands to expand the tax base and increase revenue, the … Read more

Pakistan Secures First Tranche of IMF Loan

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Pakistan

Pakistan received the first tranche of the International Monetary Fund’s (IMF) loan. The State Bank of Pakistan (SBP) received SDR 760 million, equivalent to USD 1,026.9 million. The funds will be reflected in SBP’s liquid reserves, set to be released on October 3, 2024. KARACHI: Pakistan has successfully received the first tranche of the International … Read more

PSX soars as KSE-100 crosses 73,000 milestones

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PSX milestones

The Pakistan Stock Exchange (PSX) achieved another milestone on Monday as the KSE-100 index crossed the historic 73,000 mark for the first time in the nation’s history. Early trading saw the benchmark gain 403 points, reaching 73,099, with investors responding positively amid expectations of another bailout package from the International Monetary Fund (IMF). The previous … Read more

Expected Petrol Price in Pakistan – April 2024

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Petrol Price in Pakistan

The ongoing inflation woes continue for the public, as the new administration has opted to raise the petroleum levy on petrol and diesel in response to the International Monetary Fund (IMF) demands. According to insiders, the Pakistani government is poised to hike petrol prices starting April 1, 2024. Additionally, insiders suggest a strong likelihood of … Read more

IMF Report Warns: AI Revolution Targets 40% of Global Jobs

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IMF analysis signals AI’s impending influence on 40% of worldwide jobs. Inequality risks underscored, especially with potential disparities. Urgent call for policymakers to institute social safety nets. International Monetary Fund (IMF) has raised concerns about the impact of artificial intelligence (AI) on the global job market, stating that nearly 40% of all jobs worldwide are … Read more

Ex-President Edgar Lungu’s Political Revival in Zambia

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Ex-President Edgar Lungu's Political Revival in Zambia

Edgar Lungu’s return to politics may intensify leadership disputes within the Patriotic Front (PF). Miles Sampa claims to be the PF president, adding complexity to the situation. Accusations that the government is fueling divisions are denied by the Information Minister Amid enthusiastic applause from his followers, former Zambian President Edgar Lungu has officially declared his … Read more

Pakistan Stock Exchange Emerges as the Top Performing Market Globally This Week

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Pakistan Stock Exchange

Pakistan Stock Exchange (PSX) named world’s best performing market for the second week in a row. PSX experienced significant growth, crossing 44,000-point mark with a gain of almost 2,800 points. Investor confidence driven by agreement with IMF and positive sector performances. Arif Habib Limited’s report reveals that the Pakistan Stock Exchange (PSX) had a remarkable … Read more

China plans to increase defense by 7.2% and targets by 5% economic growth rate  

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China

China has set an official economic growth target of “about 5%” for 2023. The summit, which lasts through March 13, will officially pick Premier Li’s successor. In 2022, the military budget increased by 7.1% to 1.45 trillion yuan, up from 6.8% the year before. In an effort to reinvigorate the world’s second-largest economy after a … Read more

PSX gains 258.11 points due to substantial discounted stock price

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PSX gains 258.11 points

The Pakistan equity market witnessed positive momentum during Thursday’s trading. Government took further requisite measures to meet the IMF demands. The benchmark KSE-100 Index closed at 40,670.88 points, up 258.11 points, or 0.64 per cent. KARACHI: The Pakistan equity market witnessed positive momentum during Thursday’s trading session based on the expectations that the government will … Read more

Negotiation with IMF almost completed: Ishaq Dar

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Ishaq Dar
  • He said anti-Pakistan elements are spreading rumors of default.
  • Ishaq Dar said this is completely false and against the fact.
  • He said that all the economic indicators are gradually improving.

ISLAMABAD: Federal Minister for Finance and Revenue Ishaq Dar has said that negotiations with the International Monetary Fund (IMF) almost completed.

In his Twitter message, Finance Minister Ishaq Dar said anti-Pakistan elements are spreading malicious rumors that Pakistan may default. He said this is not only completely false but also belie that fact.

He said that the foreign exchange reserves of the State Bank of Pakistan (SBP) have been increasing and are almost US $ 1 billion higher than four weeks ago despite all external due payment. He said foreign commercial banks have started providing facilities to Pakistan.

[embedpost slug=”soon-agreement-to-be-reached-with-imf-ishaq-dar”]

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Bearish trend continues at Pakistan bourse

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Bearish trend continues at Pakistan bourse

KARACHI: The Pakistan bourse witnessed downward pressure during early hours of Wednesday in response to Moody’s downgrading of Pakistan’s credit rating to Caa3 from Caa1, analysts said. An analyst at Pearl Securities said further delays in reaching an agreement with the International Monetary Fund (IMF) and an uncertainty pertaining to the elections further fuelled downward … Read more

Rupee falls sharply against dollar on economic uncertainty

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Rupee falls sharply against dollar

The rupee sharply declined by Rs4.61 against the dollar on Wednesday. The import bill for January 2023 has been recorded at $4.856 billion. Local currency recorded a historic low of Rs276.58 against the dollar on February 3. KARACHI: The rupee sharply declined by Rs4.61 against the dollar on Wednesday, owing to the economic uncertainty after … Read more

Bears dominate Pakistan equity market

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Bears dominate Pakistan

The IMF has set a goal for the interest rates to remain greater than the core inflation. The All-share volume decreased 20% to 126 million shares against 158 million shares traded. Analysts expect volatility to persist until the IMF’s ninth review is successfully concluded. KARACHI: The Pakistan stocks witnessed selling pressure throughout the day and … Read more

Rupee gains 7 paisas against dollar

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Rupee gains

The rupee gained seven paisas against the dollar on Monday. The local unit closed at Rs259.92 against the greenback from last Friday’s closing. The local currency recorded a historic low of Rs276.58 against the dollar on February 3, 2023. KARACHI: The rupee gained seven paisas against the dollar on Monday, owing to the inflows received … Read more

Bulls dominate Pakistan equity market

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Bulls dominate Pakistan

The benchmark KSE-100 Index closed at 40,950 points, up 276 points, or 0.6%. The All-share volume increased 4% to 96 million shares. Analysts expect volatility to persist until the IMF ninth review is successfully concluded.   KARACHI: The Pakistan equity market remained positive throughout the day after the government passed the Supplementary Finance Budget, 2023, … Read more

Rupee eases against dollar on shrinking forex reserves

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Rupee dollar shrinking

KARACHI: The rupee eased by 63 paisas against the dollar on Tuesday, owing to shrinking foreign exchange reserves, dealers said. The rupee closed at Rs262.51 against the greenback from the previous day’s closing of Rs261.88 in the interbank foreign exchange market. The dealers said a delay in the International Monetary Fund (IMF) programme, despite measures … Read more

Rupee gains for fifth consecutive session

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Rupee gains for fifth

The rupee extended gains against the dollar on Monday. The exchange rate gained 94 paisas to close at Rs261.88. It lost Rs57.08, or 27.83 per cent, from Rs204.85 against the dollar on June 30, 2022.   KARACHI: The rupee extended gains against the dollar on Monday, owing to improved sentiment in the market due to … Read more

PSX remains volatile due to uncertainty over ‘mini-budget’

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PSX remains volatile due to uncertainty over ‘mini-budget’

KARACHI: The Pakistan bourse remained volatile during Tuesday’s trading session on the back of uncertainty surrounding the ‘mini-budget’”, which is a prerequisite to move ahead with the stalled International Monetary Fund (IMF) programme, analysts said. An analyst at Pearl Securities said the volatility was further fuelled by the downgrade of Pakistan’s sovereign credit ratings by … Read more

Pakistan equity market down 566.79 points on selling pressure

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Pakistan equity market

KARACHI: The Pakistan stocks witnessed selling pressure on Tuesday prompted by delays in the government reaching an agreement with the International Monetary Fund (IMF) pertaining to the ninth review, analysts said. An analyst at Pearl Securities said downward pressure was further fuelled by the Economic Coordination Committee’s (ECC) decision to increase the gas tariffs to … Read more

Fitch downgrades Pakistan’s foreign currency issuer default rating to ‘CCC-’

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Pakistan’s foreign currency

The net liquid forex reserves of the (SBP) were around $2.9 billion on February 3, 2023. The SAFE deposits are scheduled to mature in two instalments: $2 billion in March and $1 billion in June. Pakistan received $10 billion in pledges at a flood relief conference in January 2023. KARACHI: The Fitch Ratings has downgraded … Read more

Pakistan equity market remains volatile

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Pakistan equity market

The KSE-100 Index closed at 41,723.32 points, up 200.6 points, or 0.48 per cent. An analyst at Pearl Securities said the market; however. The All-share volume increased 0.4 per cent to 298 million shares against 297 million shares the previous trading day.   KARACHI: The Pakistan stocks witnessed volatility during Wednesday’s trading session on the … Read more

Pakistan equity market remains bullish

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Pakistan equity market remains bullish

KARACHI: The Pakistan Stock Exchange (PSX) showed positive momentum across-the-board with the volumes picking up pace and the market closing in the green zone fuelled by an optimistic outlook that the International Monetary Fund (IMF) programme will resume in the coming days, analysts said on Tuesday. An analyst at Pearl Securities said the PSX witnessed … Read more

Pakistan bourse remains range-bound

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Pakistan bourse remains range-bound

The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday. The index closed at 40,619.94 points, down 53.12 points, or 0.13 per cent. The International Monetary Fund’s (IMF) revised growth to 2 per cent for FY23.   KARACHI: The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday. The market opened in the … Read more

Rupee sinks to historic low

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Rupee

KARACHI: The rupee hit the all-time low against the dollar on Friday, amid narrowing foreign exchange reserves, besides the government’s decision to lift the cap on the exchange rate, dealers said. The exchange rate shed Rs7.17 to close at Rs262.60 from the previous day’s closing of Rs255.43 against the greenback in the interbank foreign exchange … Read more

IMF delegation to visit Pakistan for 10 days on Jan 31

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IMF

Sources said, “Pakistan would get $1 billion.” Talks between Pakistan and IMF would continue for 10 days. IMF delegation would meet FBR, NEPRA, OGRA officials. ISLAMABAD: The International Monetary Fund (IMF) delegation will visit Pakistan for 10 days from January 31 to February 9, Bol News reported quoting an IMF representative as saying. The IMF … Read more

PSX remains bullish, as govt vows to meet IMF conditions

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PSX remains bullish

Pakistan equity market witnessed a strong rally on Wednesday. The benchmark KSE-100 Index reached an intraday high of 39,946 points. The market resumed with the same optimistic outlook as the previous closing. KARACHI: the Pakistan equity market witnessed a strong rally on Wednesday, despite prevailing political turmoil, as bullish momentum was fuelled by the prime … Read more

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