May 16

ECC approves Rs55.48bn for price differential claims of OMCs

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved an amount of Rs55.48 billion for payment of price differential claims of Oil Marketing Companies (OMCs). Federal Minister for Finance and Revenue Miftah Ismail presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division. READ MORE: Govt. […]

by Mrs. Anjum Shahnawaz

FAP suggests incentive to undeclared $3 billion

May 14

Finance, Money & Banking, Top stories

FAP suggests incentive to undeclared $3 billion

People have an undeclared amount of $2 billion to $3 billion foreign currency in their homes and personal bank lockers. They want to exchange with Pakistani Rupee (PKR) but due to certain restrictions they are unable to bring it out. The government should provide legal shelter for declaration of concealed dollars, which will help to […]

by Faisal Shahnawaz

Pakistan receives record monthly high $3 billion as remittances

May 13

Finance, Top stories

Pakistan receives record monthly high $3 billion as remittances

KARACHI: Pakistan has received a monthly record workers’ remittance of $3.13 billion in the month of April 2022, the central bank said on Friday. The State Bank of Pakistan (SBP) said the remittances grew by 12 per cent in April 2022 to $3.125 billion as compared with $2.79 billion received in April 2021. Meanwhile, the […]

by Faisal Shahnawaz

Pakistan’s forex reserves fall to $16.37 billion

May 12

Finance, Top stories

Pakistan’s forex reserves fall to $16.37 billion

KARACHI: Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by week ended May 6, 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022. READ MORE: Pakistan’s forex reserves dip to $16.55 […]

by Faisal Shahnawaz

Pakistan gives no trade relaxation to India

May 12

Finance, Top stories

Pakistan gives no trade relaxation to India

ISLAMABAD: Pakistan on Wednesday clarified that it has not given any relaxation in trade with India. The clarification has been issued by the ministry of commerce. It said that the Ministry of Commerce manages 57 Trade Missions in 46 countries which includes the post of Minister (Trade and Investment) in New Delhi, India. READ MORE: […]

by Mrs. Anjum Shahnawaz

Pakistan’s imports hit record high at $65.47 bn in 10 months

May 7

Finance, Top stories

Pakistan’s imports hit record high at $65.47 bn in 10 months

ISLAMABAD: Pakistan’s imports reached to record high at $65.49 billion during first 10 months (July – April) 2021/2022, according to data released by Pakistan Bureau of Statistics (PBS). The import bill increased by 46.41 per cent to $65.47 billion during first 10 months of the current fiscal year as compared with $44.73 billion in the […]

by Mrs. Anjum Shahnawaz

Pakistan’s forex reserves dip to $16.55 billion

May 6

Finance, Top stories

Pakistan’s forex reserves dip to $16.55 billion

KARACHI: Pakistan’s foreign exchange reserves fell by $115 million to $16.553 billion by week ended April 30, 2022, according to data released by the State Bank of Pakistan (SBP) on Friday. The foreign exchange reserves of the country were $16.668 billion a week ago i.e. April 30, 2022. READ MORE: SBP forex reserves shrink to […]

by Faisal Shahnawaz

Pakistan’s inflation sharply up by 13.4% in April 2022

May 1

Finance, Top stories

Pakistan’s inflation sharply up by 13.4% in April 2022

ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased sharply by 13.4 per cent in April 2022, according to details released on Sunday. Pakistan Bureau of Statistics (PBS) said that CPI inflation General, increased by 13.4 per cent on year-on-year basis in April 2022 as compared to an increase of 12.7 per cent […]

by Mrs. Anjum Shahnawaz

SBP forex reserves shrink to 1.69 months import cover

Apr 29

Finance, Top stories

SBP forex reserves shrink to 1.69 months import cover

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) reduced to provide only 1.69 months covers for import payment. According to details released by the SBP, the official reserves of the central bank fell by $328 million to $10.558 billion by week ended April 23, 2022 as compared with $10.886 billion a […]

by Faisal Shahnawaz

Pakistan surrenders to IMF, agrees to remove subsidies

Apr 25

Finance, Top stories

Pakistan surrenders to IMF, agrees to remove subsidies

KARACHI: Pakistan government has agreed to remove subsidies on various items granted by the previous government in order to continue loan program under International Monetary Fund (IMF). The IMF issued the following statement on April 24, 2022: “We had very productive meetings with the Finance Minister of Pakistan Miftah Ismail over Pakistan’s economic developments and […]

by Faisal Shahnawaz