Addressing a news conference Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian said in Pakistan’s case, monetary policy has been tightening over the past two or three years to control inflation, and inflation is projected to come down, but more work needs to be done. He said that Pakistan is […]
In its latest World Economic Outlook (WEO) report released on Tuesday, the Washington-based global lender also projected a reduction in inflation and unemployment in the country. The IMF forecast the consumer price index (CPI) at 24.8pc and 12.7pc for the current and next fiscal year, respectively. The unemployment rate may drop to 7.5 in the […]
According to a statement issued by the central bank, the total liquid foreign reserves of Pakistan reached $13.441 billion in the week ended on April 5, 2024. The foreign exchange reserves held by the central bank decreased by 0.1 million to $ 8.040 million during the week under review. Meanwhile, net foreign reserves held by […]
The FBR will kick-start registration in Tajir Dost Scheme in four cities Karachi, Lahore, Peshawar Islamabad, and Rawalpindi in the first phase and the tax collection will be made effective from July 1. The notification regarding the mandatory registration of retailers has been issued. Under the scheme, the traders who pay their tax before 15 […]
The premier has established a committee to investigate the reasons behind the track and trace system’s failure, despite awarding an estimated Rs25 billion contract to a consortium consisting of M/s AJCL, MITAS, and Authentix, which largely remained non-functional. The decision marks the seriousness of the government in ending tax evasion, which is going on in […]
As per details, the Monetary Fund has asked Pakistan to end sales tax relaxation on all items including petrol. The newly elected government of Pakistan should also implement a sales tax on petroleum products along with a Rs 60 levy to increase the tax income. Earlier, the International Monetary Fund (IMF) recommended the government of […]
A new tranche of loan is likely to be received from IMF in a few days, however, we would need another program,” he said while addressing the session of the Special Investment Facilitation Council (SIFC) apex committee attended by civil-military leadership. The comments came a day after the IMF agreed to a provisional or staff-level […]
The petition was filed by PTI founder Imran Khan and party Secretary General Omar Ayub Khan and made the Election Commission of Pakistan (ECP), PML-N, PPP, and MQM-P respondents in the case. The petition demanded the formation of a judicial commission consisting of serving SC judges “holding no bias towards anyone to inquire, audit and […]
As per schedule, the talks were scheduled to conclude yesterday (Monday), but the International Monetary Fund (IMF) mission extended its stay in Pakistan by a day as both sides have been unable to develop a consensus on a staff-level agreement for the second review. Both sides will discuss the Letter of Intent today, while the […]
Citing the shortage of federal funds, the IMF asked Islamabad to revisit the NFC Award with the provinces during the second review talks under the $3 billion loan program under SBA. The sources within the government said no any recommendation on the NFC Award against the constitution will not be approved. Share of provinces under […]
