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KARACHI: Pakistan’s State Bank of Pakistan (SBP) has reported a decline in its official foreign exchange reserves, which have fallen below $7 billion, according to an official statement released on Thursday.
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Pakistan is hoping major discovery of oil and gas in offshore drilling by April of this year, according to a statement of the petroleum minister.
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The State Bank of Pakistan (SBP) has reported a significant decrease in the inflow of Foreign Direct Investment (FDI) into Pakistan during the first half of the current fiscal year, signaling a challenging economic environment.
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In Pakistan, the prices of essential items have witnessed a more rapid increase for lower income groups earning up to Rs8,000 per month in comparison to other income segments.
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KARACHI: Finance Minister Asad Umar has confirmed that the planned mini budget will be unveiled on January 23, 2019. This update came during his visit to the Karachi Chamber of Commerce and Industry (KCCI), where he elaborated on the government’s intentions behind this financial move.
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ISLAMABAD: In a significant move, President Dr. Arif Alvi has reconstituted the National Finance Commission (NFC), an essential body responsible for fiscal resource distribution in Pakistan.
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ISLAMABAD – Recent regulatory duties (RD) imposed on luxury and non-essential items have significantly reduced imports in Pakistan, with a decline of 23 percent observed in December 2018.
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KARACHI – Pakistan’s trade deficit has shown signs of improvement, narrowing by $1 billion or 5.6 percent during the first half of the fiscal year 2018-2019.
(more…)Pakistan’s foreign exchange reserves have witnessed a notable decline, falling by $240 million to $13.597 billion by the end of the week, compared to the previous week’s figure of $13.837 billion, as reported by the State Bank of Pakistan (SBP) on Thursday.
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