IMF team, led by mission chief Nathan Porter, concluded discussions with the authorities on Thursday after arriving in Pakistan on May 13, the lender said in a statement. “The mission and the authorities will continue policy discussions virtually over the coming days aiming to finalize discussions, including the financial support needed to underpin the authorities’ […]
The Ministry of National Health Services, Regulations and Coordination (NHS, R&C) official, the government has proposed an 18 percent sales tax on medicines in the next budget on the recommendation of the International Monetary Fund (IMF). Experts warned that medicine prices will become out of reach for many people with the imposition of 18 percent […]
the plan aims to reduce expenditures in the next fiscal year, with the federal government not establishing any new universities and provinces funding varsity under their jurisdiction. In the next fiscal year, a contributory pension scheme is planned for all departments, except defense and police personnel. The scheme came as the global lender has asked […]
When asked about the staff-level agreement, IMF Communication Director Julie Kozack – while addressing a press briefing – avoided answering, indicating that the negotiations are still ongoing. “Right now, a mission team led by Nathan Porter is meeting with Pakistan authorities this week to discuss the next phase of our engagement.” She said: “On April […]
In its staff report for the second and final review under the recently-concluded $3-billion Stand-By Arrangement, the IMF said Pakistan should be able to meet its fiscal year 2023-24 circular debt management plan (CDMP) target of Rs2.3 trillion with zero net zero stock accumulation. “Timely notification of the FY25 annual rebasing will be critical to […]
According to reports from the finance ministry, Pakistan is planning to seek an extension on a $12 billion loan from friendly nations to manage its financial needs for the fiscal year 2024-25. The breakdown of the requested extension includes $5 billion from Saudi Arabia, $4 billion from China, and $3 billion from the United Arab […]
the IMF’s mission has reached Islamabad to assist the finance ministry in finalizing the FY2024-25 budget. The team will stay in Pakistan for more than 10 days, while other members of the IMF mission are likely to reach Pakistan on the night of May 16, the sources said. The mission will hold talks with Islamabad […]
According to sources, the government is considering taxation on the real estate sector to increase revenue, as well as taking action against benami transactions in the real estate sector. Additionally, the government will also take action against those traders who do not use the “Tajir dost app”, sources added. The budget is also expected to […]
The SBP, in a statement issued here on Thursday, informed that foreign reserves held by the central bank increased by $ 25 million to $ 8,006 million during the week under review. Meanwhile, net foreign reserves held by commercial banks were recorded $5,310 million, it added. Total liquid foreign reserves held by the country, in […]
When it comes to efforts to stabilize its economy, we support those efforts, including reaching an agreement with the IMF,” said the department’s spokesperson, Matthew Miller. “Our support for Pakistan’s economic success is unwavering and we will continue to engage with them through technical engagements as well as through our trade and investment ties, all […]
