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KARACHI: The total foreign exchange reserves of Pakistan increased by $21 million to $14.815 billion by week ended February 22, 2019 as compared with $14.794 billion a week ago, the State Bank of Pakistan (SBP) said on Thursday.
The reserves held by SBP, however, declined by $7 million to $8.036 billion as compared with $8.043 billion.
The reserves held by commercial bank increased by $28 million to $6.779 billion from $6.751 billion.
KARACHI: Pakistan’s current account deficit has narrowed by 16.8 percent to $8.424 billion owing to declining imports and improved foreign remittances.
According to statistics released by State Bank of Pakistan (SBP) on Thursday, the current account deficit narrowed to $8.424 billion during July – January 2018/2019 as compared with the deficit of $10.124 billion in the corresponding period of the last fiscal year.
The remittances sent by overseas Pakistanis have increased by 12.22 percent to $12.774 billion during first seven months (July – January) 2018/2019 as compared with $11.383 billion in the corresponding period of the last fiscal year.
The import bill has also come down by 5.17 percent to $32.5 billion during July – January 2018/2019 as compared with $34.265 billion in the corresponding period of the last fiscal year.
The trade deficit narrowed by 9.66 percent to the deficit of $19.264 billion during first seven months of the current fiscal year as compared with $21.324 billion in the corresponding period of the last fiscal year.
The exports exhibited 2.24 percent growth to $13.23 billion during July – January 2018/2019 as compared with $12.94 billion in the same period of the last fiscal year.
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KARACHI: Pakistan’s total foreign exchange reserves declined by $101 million to $14.795 billion by week ended February 15, 2019 as compared with Rs14.895 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.
During the week ending February 15, 2019, the official reserves of SBP were decreased by $163 million to $8.043 billion from $8.206 billion a week ago, due to external debt servicing and other official payments.
The reserves held by commercial banks however increased by $62 million to $6.751 billion as compared with $6.689 billion a week ago.
ISLAMABAD: Prime Minister Imran Khan, on Tuesday, directed tax authorities to take strict measures against tax evaders and corrupt officials within the tax departments. The prime minister issued these directives during a meeting focused on the government’s revenue generation efforts.
(more…)ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved to amend Import Policy Order to further tighten labeling requirement in order to facilitate local consumers to understand product ingredients.
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KARACHI: Pakistan has experienced a significant decline of 75 percent in total foreign investment, amounting to $1.042 billion during the period of July to January in the fiscal year 2018/2019, according to the State Bank of Pakistan (SBP).
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ISLAMABAD – Pakistan’s oil import bill has witnessed a significant surge, reaching $8.68 billion, driven by a substantial increase in the import of liquefied natural gas (LNG), as reported by the Pakistan Bureau of Statistics (PBS).
(more…)KARACHI – Sheikh Rashid Ahmed, the Minister for Pakistan Railways, led a delegation to the Karachi Port Trust (KPT) head office on Friday to explore opportunities for enhancing cargo transportation through rail services.
(more…)KARACHI — Pakistan’s foreign exchange reserves have witnessed a modest uptick, increasing by $10 million to reach $14.895 billion by the week ending February 08, 2019.
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ISLAMABAD: The Economic Coordination Committee of (ECC) the Cabinet on Tuesday approved additional guarantees to Pakistan International Airlines Company Limited (PIACL) of Rs 5.6 billion for repair and maintenance of engines and acquisition of related spare parts for operationalizing grounded planes.
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