Karachi, July 20, 2023 – In an official statement released on Thursday, the Karachi Chamber of Commerce & Industry (KCCI) expressed its appreciation to Federal Minister for Finance & Revenue Senator Muhammad Ishaq Dar and Governor State Bank of Pakistan (SBP) Jameel Ahmed for approving the budget proposal of KCCI for FY2023-24.
(more…)Author: Shahnawaz Akhter
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Pakistani Banks Face Sovereign Risk amid Rising Government Debt: IMF Report
Karachi, July 20, 2023 – Pakistani banks are exposed to sovereign risk due to the escalating levels of government debt, warned a report issued by the International Monetary Fund (IMF).
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SBP Commits Not to Launch New Refinancing Schemes, IMF Country Report States
Karachi, July 20, 2023 – The State Bank of Pakistan (SBP) has made a commitment not to introduce new refinancing schemes, according to the latest country report on Pakistan issued by the International Monetary Fund (IMF).
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Market Divided on SBP’s Upcoming Monetary Policy Meeting
Karachi, July 20, 2023: Market participants are divided over the State Bank of Pakistan’s (SBP) decision on whether to raise the benchmark policy rate further in the upcoming monetary policy meeting.
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Pakistan Plans New Trading Platform for Spot Transactions
Karachi, July 19, 2023 – Pakistan is set to establish a new trading platform for spot exchange rate transactions, as part of its commitment to the International Monetary Fund (IMF).
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FBR Obliged to Share Large Taxpayers’ Data with IMF
Karachi, July 19, 2023 – The Federal Board of Revenue (FBR) in Pakistan is mandated to share data on the total number of large taxpayers in the country with the International Monetary Fund (IMF).
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Foreign Direct Investment Plunges by 25% in Pakistan During FY23
Karachi, July 18, 2023 – Pakistan has experienced a significant decline of 25% in Foreign Direct Investment (FDI) during the fiscal year 2022-23, as revealed by data released by the State Bank of Pakistan (SBP) on Tuesday.
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Pakistan’s Current Account Deficit Narrows Sharply by 85% to $2.56 Billion
Karachi, July 18, 2023 – Pakistan has made significant progress in reducing its current account deficit, which stood at $2.56 billion for the fiscal year 2022-23. This represents a substantial 85% decrease compared to the previous fiscal year.
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FBR Plans New Indemnity Bond to Facilitate Exporters
ISLAMABAD: The Federal Board of Revenue (FBR) has unveiled a new indemnity bond for exporters, allowing them to sell or transfer plant machinery, equipment, and apparatus from one Export Facilitation Scheme (EFS) user to another.
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Pakistan’s Salaried Class Witnesses Surge in Bank Deposits, Totaling Rs3.45 Trillion
Karachi, July 17, 2023 – Pakistan’s salaried class has shown remarkable financial prudence, depositing a staggering Rs3.45 trillion in banks by the end of June 2023. This surge in deposits is primarily attributed to the country’s highest rate of return on investments.
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