Explore finance-related stories with Pakistan Revenue, your source for the latest updates on Pakistan’s economy, financial trends, and market insights. Stay informed with real-time economic developments.
Karachi, November 11, 2024 – Pakistan’s fiscal challenges intensified as total debt and liabilities surged to Rs 85.84 trillion by the end of the first quarter of FY2024-25, the State Bank of Pakistan (SBP) reported Monday.
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Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, expressed a warm welcome on Monday to APM Terminals commitment to invest in Pakistan, emphasizing the government’s support to ensure a level-playing and investment-friendly environment for the company. Senator Aurangzeb met with Keith Svendsen, Chief Executive Officer (CEO) of APM Terminals, in a meeting also attended by key figures from both Pakistan and Denmark.
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Finance Minister Mohammad Aurangzeb has emphasized that it’s time to include the real estate, retail, and agriculture sectors in Pakistan’s tax system. He stated that the government could no longer rely solely on taxes from salaried workers and manufacturers, whose tax rates already reach up to 50%.
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Karachi, November 7, 2024 – Pakistan’s foreign exchange (forex) reserves have witnessed a decline of $117 million by the week ended November 1, 2024, according to a report from the State Bank of Pakistan (SBP) on Thursday.
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The International Monetary Fund (IMF) will dispatch a mission to Islamabad from November 11 to 15 to address Pakistan’s fiscal challenges and explore potential corrective measures, including a possible mini-budget.
(more…)The economic trajectory of Pakistan is firmly on course for stabilization, attributed to the government’s prudent policies, asserted Finance Minister Muhammad Aurangzeb. Addressing the 8th edition of the Future Summit in Karachi, the Finance Minister highlighted several indicators pointing toward an economic upturn, including a narrowed current account deficit, robust remittance inflows, a fortified rupee, and a recent policy rate cut.
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Karachi, November 4, 2024 – The State Bank of Pakistan (SBP) projects significant fiscal savings following its recent policy rate cuts, estimating that total interest expenses for the fiscal year 2024-25 will decrease to Rs 8.5 trillion from the initially budgeted Rs 9.8 trillion.
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Prime Minister Shehbaz Sharif announced Monday that the recent reduction in the policy rate by the State Bank of Pakistan (SBP) will invigorate business activities, bolster exports, and create new employment opportunities across the country.
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Karachi, November 2, 2024 – Pakistan’s economy appears to be on a path of gradual stabilization, supported by the new International Monetary Fund (IMF) program, according to analysts at Topline Securities Limited. With significant improvements in external accounts, a sharp decrease in inflation, and fiscal consolidation, analysts suggest that while the growth outlook remains modest, the country’s economic fundamentals are strengthening.
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Islamabad, November 1, 2024 – Pakistan’s trade deficit narrowed by 5.59% during the first four months (July-October) of the fiscal year 2024-25, according to the latest data from the Pakistan Bureau of Statistics (PBS). The trade deficit stood at $6.97 billion, a significant reduction from $7.39 billion recorded during the same period last year, signaling a positive shift in the country’s trade balance.
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