Finance Archives - Page 43 of 189

Pakistan Records Historic Budget Surplus After Decades of Deficits

Karachi, October 31, 2024 – In a landmark development, Pakistan has reported its first budget surplus in decades, marking a significant turnaround for the nation’s economic landscape. The surplus, recorded at 1.4% of the GDP for the first quarter (July-September) of the fiscal year 2024-25, reflects an amount of PKR 1.7 trillion. This achievement comes amid Pakistan’s longstanding struggle with fiscal deficits and spiraling debt.

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October 31, 2024

SBP Reports 85% Surge in Foreign Profit Repatriation in Q1 FY25

Karachi, October 28, 2024 – The State Bank of Pakistan (SBP) reported a significant 85% rise in the repatriation of profits and dividends by foreign investors during the first quarter of the fiscal year 2024-25, reflecting a sharp increase in the outflow of funds.

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October 28, 2024

Pakistan Aims to Launch Panda Bond in Chinese Market

Pakistan is exploring new avenues for financing by targeting the Chinese market for its inaugural Panda bond issuance. Finance Minister Muhammad Aurangzeb revealed this intention during a recent meeting with China’s Vice Minister of Finance, Liao Min, on the sidelines of the World Bank Group (WBG) and International Monetary Fund (IMF) annual meetings in Washington.

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October 27, 2024

SBP Briefs Global Investors on Pakistan’s Promising Outlook

Karachi, October 25, 2024 – Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), met with international rating agencies and global investors during events hosted by prominent financial institutions, including Standard Chartered, JP Morgan, Bank of America, and Jefferies. These meetings took place on the sidelines of the 2024 IMF-World Bank annual gatherings in Washington, DC.

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October 25, 2024

Pakistan’s Forex Reserves Fall by $94 Million Amid Commercial Bank Decline

Karachi, October 24, 2024 – Pakistan’s foreign exchange (forex) reserves saw a reduction of $94 million in the week ending October 18, 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. The country’s total forex reserves now stand at $16.017 billion, down from $16.111 billion the previous week, marking a modest but notable decline.

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October 24, 2024

Aurangzeb Urges IMF Prioritize Social Safety, Climate Resilience

Islamabad – In a pivotal address on Wednesday, Federal Minister for Finance Muhammad Aurangzeb underscored the urgent need for the International Monetary Fund (IMF) to integrate social protection mechanisms into its lending frameworks, particularly for economically vulnerable nations.

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October 23, 2024

Foreign Direct Investment Surges by Over 48% in 1QFY25: SBP

Karachi, October 21, 2024 – The State Bank of Pakistan (SBP) announced on Monday a remarkable increase in foreign direct investment (FDI), which surged by over 48% in the first quarter (July-September) of the fiscal year 2024-25.

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October 21, 2024

Pakistan’s Current Account Deficit Narrows by 92% in 1QFY25

Karachi, October 21, 2024 – Pakistan’s current account deficit sharply contracted by a staggering 92% year-on-year (YoY) in the first quarter of the fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Monday.

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October 21, 2024

Pakistan’s Interest Payments Skyrocket by 43.3% in FY24: SBP

Karachi, October 20, 2024 — The State Bank of Pakistan (SBP) has reported a staggering 43.3% surge in Pakistan’s interest payments during the fiscal year 2023-24. According to the SBP’s latest report, total interest expenditures reached an alarming Rs 8.2 trillion, up from Rs 5.7 trillion in the previous year, exerting immense pressure on the country’s fiscal health.

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October 20, 2024

Pakistan’s Weekly Forex Reserves Increase by $64 Million

Karachi, October 17, 2024 – In a positive turn for Pakistan’s economic stability, the country’s net foreign exchange (forex) reserves saw a modest uptick of $64 million by the week ending October 10, 2024, as reported by the State Bank of Pakistan (SBP) on Thursday.

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October 17, 2024

Category: Finance