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.
In a significant economic development, the International Monetary Fund (IMF) Executive Board has approved a $7 billion Extended Fund Facility (EFF) for Pakistan. The Prime Minister’s Office (PMO) announced this on Wednesday, marking a crucial moment for the country’s struggling economy.
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Islamabad, September 24, 2024 – Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, expressed confidence on Tuesday that the International Monetary Fund (IMF) will approve a 37-month, $7 billion Extended Fund Facility (EFF) for Pakistan during its board meeting on September 25, 2024. His optimism comes as Pakistan seeks much-needed financial assistance to stabilize its economy and ensure sustained reforms.
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Karachi, September 24, 2024 – Pakistan’s headline inflation, based on the Consumer Price Index (CPI), is projected to decrease to 7.3% year-on-year (YoY) in September 2024, marking its lowest level since January 2021. This is a significant improvement compared to both August 2024, when inflation stood at 9.6% YoY, and September 2023, when the inflation rate surged to 31.4% YoY.
(more…)Islamabad, September 20, 2024 – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced on Friday that Pakistan is expected to receive favorable news from the International Monetary Fund (IMF) on September 25, 2024.
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Karachi, September 19, 2024 – Pakistan’s net foreign exchange reserves increased by $31 million during the week ending September 13, 2024, according to the State Bank of Pakistan (SBP). The country’s total forex reserves now stand at $14.827 billion, up from $14.796 billion recorded on September 6, 2024.
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Karachi, September 18, 2024 – Pakistan has experienced a remarkable 55.5% surge in foreign direct investment (FDI) during the first two months of the current fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Wednesday. This sharp increase signals renewed global confidence in Pakistan’s economic outlook, driven by various policy reforms and improved investment conditions.
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Karachi, September 18, 2024 – Pakistan’s current account deficit witnessed a sharp contraction of 81% during the first two months (July–August) of the current fiscal year 2024-25, according to a report released by the State Bank of Pakistan (SBP) on Wednesday. The deficit fell to $171 million, compared to $893 million in the corresponding period of the previous fiscal year.
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Islamabad – The International Monetary Fund (IMF) has confirmed that its Executive Board will consider Pakistan’s loan request under the Extended Fund Facility (EFF) on September 25, 2024. The agenda for the board meeting includes the “Pakistan – 2024 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility.”
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Islamabad, September 13, 2024 – The Asian Development Bank (ADB) has approved a loan of $320 million to support the rehabilitation and development of roads in the province of Khyber Pakhtunkhwa (KP), Pakistan. This investment aims to improve safe, all-weather connectivity for rural areas, enhancing access to essential services such as education, healthcare, and markets.
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Karachi, September 12, 2024 – Pakistan’s foreign exchange reserves recorded a modest increase of $56 million, bringing the total to $14.796 billion by the week ending on September 6, 2024.
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