Headline inflation in Pakistan to hit historic high at 36.5% in April 2023
Headline inflation in Pakistan is set to reach a historic high of 36.5% in April 2023, according to analysts at Arif Habib Limited on Friday.
Headline inflation in Pakistan is set to reach a historic high of 36.5% in April 2023, according to analysts at Arif Habib Limited on Friday.
Pakistan’s foreign exchange reserves have improved to over $10 billion by the week ended April 20, 2023, according to the State Bank of Pakistan (SBP).
On April 27, 2023, a report stated that Pakistan’s economy is facing critical challenges that require urgent solutions. To address these challenges, the country must unlock foreign flows, which are crucial for its economic stability.
Pakistan has been facing a number of challenges, both economic and political, in recent years. The political crisis has only added to the existing economic woes, creating further uncertainty and instability.
Prime Minister Shehbaz Sharif chaired a crucial meeting to address the soaring prices of sugar and the pervasive issues of smuggling and hoarding in the country.
Pakistan’s foreign exchange reserves have increased by over $400 million to $9.965 billion by the week ended April 14, 2023, according to the State Bank of Pakistan (SBP) on Thursday.
In a positive development, Pakistan’s current account has posted a surplus of $654 million in March 2023 after 28 months or since November 2020.
On Saturday, the Minister for Finance and Revenue of Pakistan, Senator Mohammad Ishaq Dar, held a virtual meeting with Jin Liqun, the President of the Asian Infrastructure and Investment Bank (AIIB), as part of the International Monetary Fund (IMF) and World Bank Spring meetings 2023.
On Thursday, Pakistan’s Economic Coordination Committee (ECC) approved interest-free loans for electric bikes and electric rickshaws. The move is aimed at encouraging the manufacturing of electric vehicles in the country.
Pakistan’s foreign exchange reserves have declined by $195 million to $9.565 billion due to repayment of foreign debt, State Bank said on Thursday.