Addressing at the Pakistan Stock Exchange (PSX) the central bank’s Governor Jameel Ahmed said that record 38 billion US$ remittances will be available by this June. “During nine months of the current financial year, remittances have increased by 33 per cent,” SBP chief said. He said that the current and external accounts are expected to […]
According to the remittances data released by SBP for March 2025, for the first time, Pakistan received over the $4 billion threshold. Remittances for March 2025 amounted to $4.1 billion, marking a significant milestone. Compared to March of the previous fiscal year, remittances have surged by 37.3 percent, while on a month-on-month basis, remittances rose […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs280.65 and Rs282.15, respectively. The price of the Euro increased by Rs9.71 to close at Rs318.96 against the last day’s closing of Rs309.25, according to the State Bank of Pakistan (SBP). The […]
The Australian Dollar (AUD) to Pakistani Rupee (PKR) exchange rate remains stable at 176.19 PKR, reflecting a significant shift in the currency market. This rate is determined by the foreign exchange market, where supply and demand dynamics influence currency prices. The AUD-PKR exchange rate is based on various factors, including interest rates, inflation, and economic […]
The SBP policy rate, after being slashed from 22pc in June 2024, now stands at 12pc. The Monetary Policy Committee (MPC) of the SBP met today to decide the Monetary Policy rate unchanged, while analysts were expecting a 50 to 100 basis points cut in the interest rate. The decision was announced after the Monetary […]
The Monetary Policy Committee (MPC) of the SBP will meet today to decide about the Monetary Policy, as analysts expect 50 to 100 basis points cut in the interest rate. The bank’s current interest rate has been 12 percent while the inflation was dropped in February to minimum level of 1.52%. The MPC will review […]
According to sources, this was revealed during a meeting between Sindh’s Provincial Secretary of Finance, Fayaz Jatoi, and IMF officials in Islamabad. Sources revealed that the IMF reviewed Sindh’s economic performance over the past eight months and was briefed on the province’s revenue board’s performance. The IMF appreciated Sindh’s surplus of Rs 264 billion in […]
The federal government has abandoned plans to introduce a mini-budget for FY 2024-25, opting instead for an alternative plan to address the Rs. 605 billion shortfall, reported citing sources. According to sources, Pakistan is facing a significant financial shortfall, with a staggering Rs. 605 billion needed to meet its financial obligations. Earlier, the government was […]
The successful talks could lead to the release of the next $1 billion tranche from the IMF for Pakistan. A presentation was given to the IMF delegation led by Nathan Porter, over economic indicators from July to February. Pakistan’s delegation headed by Finance Minister Muhammad Aurangzeb briefed the IMF team about fiscal deficit, primary balance, […]
“The economic review and talks will continue until March 15,” sources said. The nine-member mission led by Nathan Porter will stay about two weeks and assess Pakistan’s economic performance to determine the release of the next $1 billion tranche. The IMF mission will also present its recommendations for the next financial year’s budget, sources said. […]
