The Pakistani rupee dropped 1.16 per cent in the interbank market to close at Rs 294.93 against the US dollar, down by Rs 3.39, according to the State Bank of Pakistan data
The central bank did not offer any reason for the decline of the remittances, but analysts said the government’s effort to keep the dollar at lower than actual rates hit the inflows through banking channels
Pakistan’s ninth review by the International Monetary Fund (IMF) under the 2019 Extended Fund Facility (EFF) for the release of a USD 1.2 billion tranche is still pending with the programme’s expiry on June 30.
In a tweet last night, Blinken said that the US "supports a productive, democratic, and prosperous partnership with Pakistan" adding that he exchanged thoughts with Bilawal on supporting the country's "economic recovery and...
Pakistan rupee showed a remarkable recovery in the currency market after the last-minute deal with the Washington-based International Monetary Fund (IMF)
The government also agreed with the IMF's demand to cut its spending by Rs 85 billion.
Addressing the media, Dar said when the Standby Arrangement (SBA) was finalised, it was decided that USD 1.2 billion would be given upfront while the "balance amount" of USD 1.8 billion would be handed over after two reviews...
The ‘Economic Revival Plan’ was launched at a high-level meeting chaired by Prime Minister Shehbaz Sharif while Chief of Army Staff Gen Asim Munir, provincial chief executives, federal and provincial ministers and senior...
The remarks by Reza Baqir, the former governor of the State Bank of Pakistan came as he addressed the final session of the Pakistan Literature Festival, held...
He said no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been pending since November.
The SPCo holds about 77 per cent stake in Shell Pakistan, the local company carrying out the business.
The draft budget which is the last by the Shebaz Sharif government before elections later this year involves about Rs 6 trillion deficit gap which the...
Cash-strapped Pakistan government has warned of more inflation coupled with a slowdown of the economy
This year, Pakistan is scheduled to return $1.1 billion of Paris Club debt out of the total of $10 billion. Some $400 million of Japanese debt is maturing this...
The International Monetary Fund on Thursday confirmed that an agreement was reached with Pakistan, which is facing a serious economic crisis since last one year
The country’s external debt servicing rose to $10.886 billion in the first three quarters of 2021-22 compared to $13.38 billion in the entire FY21
