Pension account to become inoperative on verification failure: Finance Division

ISLAMABAD: Bank account of a pensioner shall become inoperative if the person drawing pension fails to undergo biometric verification or is not drawing pension for consecutive six months. The Finance Division in... Read more »

Trade deficit swells by 6.44 percent in first half

ISLAMABAD: The country’s trade deficit has widened by 6.44 percent during the first half (July – December) of fiscal year 2020/2021 owing to uptick in imports during past two months. According to... Read more »

Foreign exchange reserves increase to $20.512 billion by year-end 2020

KARACHI: The liquid foreign exchange reserves of the country increased to $20.512 billion by year-end 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country increased... Read more »

ECC approves removal of additional customs duty on 152 tariff lines

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved removal of additional customs duty at 2 percent on import of raw material of 152 tariff lines. Dr. Abdul Hafeez... Read more »

SBP recommends increasing retirement age to reduce fiscal burden

KARACHI: State Bank of Pakistan (SBP) has recommended increase in retirement age in order to reduce average coverage period of retirement benefits. “The increase in level of standard pension age may reduce... Read more »

Pension expenditure becoming unsustainable: SBP report

KARACHI: State Bank of Pakistan (SBP) on Tuesday said that public pension expenditure in Pakistan is on the path to becoming unsustainable. The central bank prepared a study report on rising expenditures... Read more »

SBP projects GDP growth in range of 1.5-2.5 percent with high consumer prices in FY21

KARACHI: The State Bank of Pakistan (SBP) on Tuesday projected GDP growth in the range of 1.5-2.5 percent with higher than targeted consumer prices for the current fiscal year FY21 (2020/2021). The... Read more »

Headline inflation contracts to 8.63 percent in first half

ISLAMABAD: The average headline inflation based on Consumer Price Index (CPI) contracted to 8.63 percent during the first half (July – December) of the current fiscal year, Pakistan Bureau of Statistics (PBS)... Read more »

Foreign exchange reserves fall by $59 million to $20.25 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $59 million to $20.254 billion by week ended December 24, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign... Read more »

Pak – Afghan PTA to be finalized next month: Razak Dawood

ISLAMABAD: A preferential trade agreement between Pakistan and Afghanistan will be finalized by end of next month, Adviser to Prime Minister on Commerce on Investment, Abdul Razak Dawood on Monday. While addressing... Read more »