Foreign exchange reserves decline by $78 million to $15.89 billion

KARACHI: The foreign exchange reserves of the country decreased by $78 million to $15.894 billion by week ended May 10 owing to foreign debt payment, State Bank of Pakistan (SBP) said on... Read more »

Pakistan approaches IMF on bad economic conditions: Dr. Hafeez Shaikh

KARACHI: Pakistan has approached the IMF for a new loan program due to bad economic conditions of the country, Advisor to Prime Minister on Finance Dr. Hafeez Shaikh said on Thursday. Read more »

Pakistan’s trade deficit narrows by 13pc in 10 months

KARACHI: Pakistan’s trade deficit has narrowed by 13 percent during first 10 months (July – April) 2018/2019 owing to significant fall in import bill, according to trade data released by Pakistan Bureau... Read more »

Federal cabinet approves money whitening scheme

ISLAMABAD: The federal cabinet on Tuesday approved a scheme to whiten money through declaration of concealed / hidden assets. Read more »

Secured transactions registry established in SECP

ISLAMABAD: The function of Secured Transaction Registry (STR) has been established at the Securities and Exchange Commission of Pakistan (SECP). Read more »

IMF to provide $6 billion to Pakistan under 39-month Extended Fund Arrangement

KARACHI: International Monetary Fund (IMF) will provide $6 billion under 39-month extended fund facility (EFF) to Pakistan, a statement said on Sunday. In response to a request by the Pakistani authorities, an... Read more »

Overseas Pakistanis send $17.87 billion in 10 months

KARACHI: Overseas Pakistanis have sent remittances worth $17.875 billion during first ten months (July – April) 2018/2019, which is 8.45 percent higher when compared with remittances in the same period of the... Read more »

Pakistan’s foreign exchange reserves increase by $229 million to $15.972 billion

KARACHI: The foreign exchange reserves of the country have increased by $229 million to $15.972 billion by week ended May 03, 2019 as compared with $15.742 billion a week ago, State Bank... Read more »

Meeting reviews progress on FATF Action Plan

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance, Revenue and Economic Affairs on Monday chaired a meeting to review progress on Financial Action Task Force (FATF) Action Plan. Read more »

Reza Baqir appointed as SBP governor

ISLAMABAD: The federal government on Saturday appointed Dr. Reza Baqir as the governor of State Bank of Pakistan (SBP) for next three years. Read more »

SBP governor, FBR chairman removed as IMF team visiting

ISLAMABAD: The federal government on Friday removed governor of the central bank and chief of the tax collecting agency in the wake of dismal fiscal position of the country and in the... Read more »

ECC reduces sales tax on petrol by 5 percent

ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) has approved reduction of sales tax by five percent in order to provide relief to masses. Read more »