According to the data released by the SBP, total liquid foreign reserves held by the country stood at $13.15 billion. Net foreign reserves held by commercial banks stood at $5.24 billion. The central bank did not specify a reason for the increase in the reserves. During the week ended on 08-Mar-2024, SBP’s reserves increased by […]
Reopening talks on the National Finance Commission (NFC) award, the International Monetary Fund (IMF) urged Pakistan on Thursday in an effort to resolve the continuous disparity in the allocation of fiscal resources between the federal and provincial governments. Nathan Porter, the IMF Mission Chief to Pakistan, expressed concerns about the allocation of resources and duties […]
The minister also said that the era of cash deposits by friendly countries and the rollovers of the external debt was over, and the country had to come out of the mindset of doing patchwork to deep-rooted economic problems. In his first interaction with a group of journalists since taking oath as the minister, Aurangzeb […]
Georgieva has navigated the IMF “through difficult times over the last years”, Lindner said on X, formerly known as Twitter. “I am convinced that she is exactly the right person to steer the institution through the challenges ahead and to strengthen the IMF as an advocate for structural reforms in our economies.” Bulgarian economist Georgieva, […]
Senator Faisal Saleem Rahman has made history by becoming the first Pakistani lawmaker to be chosen as a member of the International Monetary Fund (IMF) and World Bank’s parliamentary board. Starting his six-year term in March 2021, Senator Faisal represents Khyber Pakhtunkhwa in this role. The parliamentary board, which includes representatives from 140 countries, works […]
According to details, the newly-elected PML-N-led government has decided to avail a fresh IMF loan program, and the Ministry of Finance has initiated actions on the directives of the premier. Pakistan is likely to seek a $6 to 8 billion loan program from the international lender and for this immediate contact will be made with […]
Before the new government begins discussions with the International Monetary Fund (IMF) about a long-term economic plan, the IMF has proposed increasing the general sales tax (GST) from 0% to 18% on various items, including petrol. The IMF estimates that this could generate approximately Rs. 1,300 billion, which would account for 1.3% of Pakistan’s Gross […]
The International Monetary Fund (IMF) has suggested that the Pakistani government include a number of items, such as unprocessed food, stationery, medications, POL products, and others, under the normal General Sales Tax rate of 18%. International Monetary Fund (IMF) has calculated that the reduction of GST rates might result in 1.3% GDP, or Rs1,300 billion, […]
The Federal Board of Revenue (FBR) has been advised by the International Monetary Fund (IMF) to eliminate the tax exemption on private employers’ pension contributions, reduce the number of slabs from seven to four, and double the tax burden on salaried and non-salaried classes. According to IMF estimates, if the Personal Income Tax (PIT) recommendations […]
China has agreed to roll over a $2 billion debt on existing terms after initially seeking a hike in price, as Pakistan’s policy to maintain foreign exchange reserves through deposits by three countries is becoming costly due to a 118% surge in interest cost. The Ministry of Finance officials said that an understanding has been […]
