Pakistan’s current account has posted a surplus for the third consecutive month driven by robust growth in remittances and exports. The current account posted a deficit of $287 million in October 2023, the SBP reported. In the first four months of the previous fiscal year, the current account deficit stood at $1.528 billion, highlighting a […]
The decision was taken in a Monetary Policy Committee (MPC) meeting of the central bank chaired by SBP Governor Jameel Ahmad. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basis points to 15 percent, effective from November 5, 2024. The Committee noted that inflation has declined […]
The bullish trend carried the Index to a historic high which closed at 91,938 points, gaining 1078 more points. The Index gained 1300 points at a time in trading and crossed 92,000 points level. The analysts said that the expected cut in the interest rate and better economic indicators have boosted the investors’ confidence. The […]
The State Bank of Pakistan (SBP) in a press statement stated that its Monetary Policy Committee (MPC) will meet today, to decide on the Monetary Policy. The MPC will review the overall economic and financial situation, major indicators, data of different sectors, and major developments taken place since the announcement of the previous monetary policy. […]
According to sources, the FBR’s failure to meet its tax targets has resulted in a major shortfall, that may lead to difficulties in the second installment of the loan. Sources revealed that the IMF has also expressed its concerns over the FBR’s inability to meet its tax targets, whereas the mini-budget is seen as a […]
As per details, APTMA Chairman Kamran Arshad has urged the Monetary Policy Committee to reduce interest rates by 400 basis points, stating that the high interest rate is a barrier to growth in the textile sector. Kamran Arshad highlighted that the effective interest rate of 10.6% is unsustainable for the industry, and urged the need […]
He acknowledged the Bank’s role as a reliable partner in Pakistan’s progress and appreciated its financing in various sectors including energy, transportation, education, and health. Muhammad Aurangzeb lauded the Bank’s investment in the Mohmand Dam, along with other members of the Arab Coordination Group, as a model for co-financing similar or larger projects in the […]
The index gained 851.11 points, or 0.98%, to reach 88,045.64 points. According to Mohammed Sohail, CEO of Topline Securities, the rally was driven by local investors aggressively buying shares amid falling bond yields and expectations of a substantial cut in the monetary policy rate. “The locals are buying aggressively due to falling bond yields and […]
“SBP has cut its benchmark interest rate for three consecutive meetings by 450 basis points to 17.5 percent from a record 22 percent. The next meeting on Nov 4 may see the central bank reduce the policy rate, Muhammad Aurangzeb in an interview with Bloomberg in Washington on the sidelines of the IMF meeting. Pakistan’s […]
According to a statement issued by the central bank, total liquid foreign reserves held by the country stood at $16.11 billion. Net foreign reserves held by commercial banks stood at $5.09 billion. “During the week ended on 11-Oct-2024, SBP reserves increased by US$ 215 million to US$ 11,022.7 million,” it said. The central bank did […]
