During his meeting with IMF Managing Director (MD) Ms. Kristalina Georgieva in Washington D.C. he thanked the IMF team for reaching a Staff-Level Agreement on the First Review under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF). In his meeting with President of the World Bank Group […]
“The IMF team has reached a staff-level agreement (SLA) with the Pakistani authorities on the first review of the 37-month Extended Arrangement under the Extended Fund Facility (EFF), and a new 28-month arrangement under the IMF’s RSF with total access over the 28 months of around $1.3 billion (SDR 1 billion). The staff-level agreement is […]
The Pakistan Medical and Dental Council (PMDC) has decided to halt the registration of new medical and dental colleges following the government’s guidelines. The PMDC has officially approved this decision, and no applications for registration submitted after January 5 will be considered. However, 13 applications submitted before January 5 are currently under review, the sources […]
Addressing a presser in Islamabad, the finance minister said that the federal cabinet approved a proposal to abolish approximately 60 percent of vacant positions across ministries. He said that the cabinet’s decision is part of a comprehensive plan to streamline the government’s operations and reduce unnecessary expenditures. The finance minister said that the federal government’s […]
According to the ministry’s report, the inflation rate is expected to decrease over the next three years. The report projects that the inflation rate will decrease from 23.4% to 12% in 2025, and then further to 7.5% in 2026. By 2027, the inflation rate is expected to be reduced to 7%. In addition to reducing […]
The decision was taken during Federal Finance Minister Muhammad Aurangzeb’s visit to the Federal Board of Revenue (FBR) headquarters. Attorney General for Pakistan Mansoor Usman Awan was also present in the meeting. Government officials said the FBR had briefed the finance minister about its decision to disable the mobile phone SIMs of 506,671 individuals, who […]
New Finance Minister of Pakistan, Muhammad Aurangzeb, indicated in an interview recently that he hopes to issue up to USD 300 million of panda bonds for the first time this year, due to issue renminbi-denominated bonds would allow Pakistan to diversify its funding sources and reach investors in new markets. Panda bonds are bonds denominated […]
According to reliable sources, there’s a strong possibility that Muhammad Aurangzeb will be appointed as the next finance minister of the country. This news has surfaced as Prime Minister Shehbaz Sharif prepares to select his federal cabinet. Reports suggest that Ishaq Dar, a former finance minister who is close to Nawaz Sharif, may not be […]
The International Monetary Fund and Pakistan have reached the staff-level agreement on Tuesday over Structural reforms that will cause IMF to release $500M for the country, said the Pakistan Finance Ministry and IMF in a press release. “The package strikes an appropriate balance between supporting the economy, ensuring debt sustainability, and advancing structural reform. Pending […]
