As Pakistan’s inflation, which just hit a 47-year-high in August at over 27 per cent, is on an upward curve, the International Monetary Fund (IMF) has warned against protests and instability in the country. Socio-political pressures are expected to remain high and could also weigh on policy and reform implementation, IMF says As Pakistan’s inflation, […]
The Pakistani rupee surged against the US dollar Tuesday. During intraday trade after the International Monetary Fund’s (IMF) executive board revived the much-awaited bailout program for Islamabad. The rupee rose 2.42 against the US dollar to 219.50. During intraday trading on the interbank market from Monday’s close of 221.92. After months of desperate efforts. Global […]
In 1991, India experienced the same economic problems that Pakistan is currently experiencing in 1991. India was on the verge of bankruptcy during that year. India only had $1.2 billion in foreign reserves in 1991. With it, India could only import enough oil to last two to three weeks. As a result of the International […]
Finance Minister Shaukat Tarin declared on Thursday that the International Monetary Fund’s (IMF) conditions to increase electricity prices and slap Rs150 billion taxes on the salaried class are a “red line” for Pakistan, saying the talks with the global lender may prolong. “The IMF has asked to increase personal income tax and power tariffs but […]
The Federal Board of Revenue (FBR) is reportedly resisting a proposal by the International Monetary Fund (IMF) to implement additional taxes of Rs. 176 billion on the salaried class in the upcoming budget. The news report quoted sources saying that various taxes are under consideration to boost the income tax collection from the current level […]
ISLAMABAD: In a show of confidence in Pakistan from foreign investors, the Euro bonds floated by the country were able to fetch US$2.5 billion from the international market. According to details, the country rolled out three separate Euro bonds in the international market; having a time frame between 5 years to 30 years. An interest […]
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 […]
The International Monetary Fund (IMF) has said that the business environment can improve by improving the accountability system; enhancing institutional coordination, and improving civil service and professional and competitive environment. In a report entitled ‘Economic Governance Reforms to Support Inclusive Growth’; the IMF has stated that Pakistan has reduced the period for obtaining permits required […]
Pakistan has asked the International Monetary Fund (IMF) to relax the conditions for a mini-budget and increase in electricity prices at least till March next year after Prime Minister Khan again shot down both the proposals due to already high prices. About 10 days ago, the Ministry of Finance had sought the prime minister’s approval […]
