Nov 26

Pakistan repays $1.8 billion in November 2022: SBP

KARACHI: Pakistan has repaid an amount of $1.8 billion against foreign loans during November 2022, the central bank said in an analyst briefing on Friday. According to Insight Securities (Pvt) Limited, commenting on foreign loan payment, SBP governor highlighted that during the month of November 2022, the central bank had repaid loan of $1.8 billion. […]

by Faisal Shahnawaz

Pakistan official reserves fall to around 1 ½ months import coverage

Nov 24

Finance, Top stories

Pakistan official reserves fall to around 1 ½ months import coverage

KARACHI: Pakistan’s official foreign exchange reserves have declined to meet only one and half months cover for import payment, according to data released by the State Bank of Pakistan (SBP) on Thursday. The official foreign exchange reserves of the SBP fell by $134 million to $7.826 billion by week ended November 18, 2022 as compared […]

by Faisal Shahnawaz

Foreign direct investment into Pakistan plunges by 52pc in 4MFY23

Nov 21

Finance, Top stories

Foreign direct investment into Pakistan plunges by 52pc in 4MFY23

KARACHI: Foreign direct investment (FDI) into Pakistan has plunged by 52 per cent during first four months (July – October) of fiscal year 2022-2023 (4MFY23). According to data released by the State Bank of Pakistan (SBP) on Monday the FDI fell to $348 million during the first four months of the current fiscal year as […]

by Faisal Shahnawaz

Pakistan current account deficit narrows by 47pc in 4MFY23

Nov 21

Finance, Top stories

Pakistan current account deficit narrows by 47pc in 4MFY23

Current Account Deficit (CAD) of Pakistan narrowed by 47 per cent in first four months (July – October) of fiscal year 2022-2023 (4MFY23), according to Balance of Payment (BoP) details released by State Bank of Pakistan (SBP) on Monday. The CAD contracted to $2.82 billion during first four months of the current fiscal year as […]

by Faisal Shahnawaz

Pakistan to make payment without delay, no risk of default: Ishaq Dar

Nov 20

Finance, Top stories

Pakistan to make payment without delay, no risk of default: Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar on Saturday reiterated that Pakistan will make all its foreign payments without delay and it will never default. Dar strongly rejected the baseless and irresponsible statements and rumors about the country’s economy, saying that the government had arranged all international payments for the next one year. READ MORE: Pakistan reaffirms […]

by Mrs. Anjum Shahnawaz

Pakistan textile exports decline by 11pc amid global economic slowdown

Nov 19

Finance, Top stories

Pakistan textile exports decline by 11pc amid global economic slowdown

KARACHI: Pakistan textile exports registered a decline of over 11 per cent Month on Month (MoM) basis in October 2022 to $1.36 billion due to global economic slowdown. “This is the lowest number since May 2021,” said Shameer Alam Zaidi, analyst at Ismail Iqbal Securities. He said the effect of global economic slowdown and high […]

by Faisal Shahnawaz

Pakistan reaffirms commitment to complete IMF program

Nov 17

Finance, Top stories

Pakistan reaffirms commitment to complete IMF program

ISLAMABAD: Pakistan on Thursday reaffirmed commitment to complete the loan program under International Monetary Fund (IMF). The resolve has been expressed at an online meeting of Finance Minister Ishaq Dar with Nathan Porter, IMF Mission Chief for Pakistan. The two sides discussed the progress made with the ongoing IMF program, particularly the impact of floods […]

by Mrs. Anjum Shahnawaz

Pakistan forex reserves inch up to $13.796 billion

Nov 17

Finance

Pakistan forex reserves inch up to $13.796 billion

KARACHI: Foreign exchange (forex) reserves of Pakistan inched up by $75 million to $13.796 billion by week ended November 11, 2022, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $13.721 billion a week ago i.e. November 04, 2022. READ MORE: Pakistan FX reserves slip sharply by […]

by Hamza Shahnawaz

Pakistan FX reserves slip sharply by $958 mn on external payments

Nov 10

Finance, Top stories

Pakistan FX reserves slip sharply by $958 mn on external payments

KARACHI: Pakistan foreign exchange reserves slipped sharply by $958 million by week ended November 08, 2022 owing to external payments, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country have been recorded at $13.721 billion by week ended November 04, 2022 as compared with $14.679 billion a week ago […]

by Hamza Shahnawaz

China continues to help Pakistan stabilize financial situation

Nov 7

Finance, World

China continues to help Pakistan stabilize financial situation

BEIJING: China has done its utmost to help Pakistan stabilize financial situation, said Chinese Foreign Ministry Spokesperson, Zhao Lijian on Monday and added his country will continue to do so in the future. “China and Pakistan are all-weather strategic cooperative partners. We have been supporting each other for common development and in joint efforts to […]

by Mrs. Anjum Shahnawaz