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Karachi, October 2, 2023 – Official data released on Monday by the Pakistan Bureau of Statistics (PBS) reveals a sharp increase in headline inflation, which soared to 31.4 percent on a year-on-year basis in September 2023.
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Karachi, October 2, 2023 – Pakistan has taken significant steps to combat inflation and stabilize its economic outlook. Recent administrative measures aimed at improving the availability of essential food commodities and addressing supply constraints are yielding positive results, according to the Ministry of Finance’s monthly economic report.
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Pakistan’s foreign exchange reserves have dwindled to $13.162 billion as of the week ending September 22, 2023, marking a $24 million drop compared to the previous week’s level of $13.186 billion, according to the State Bank of Pakistan (SBP).
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In a strategic move to enhance the development prospects of the Reko Diq Project, Pakistan Petroleum Limited (PPL) announced its intention to explore potential engagement with sovereign foreign investors.
(more…)Karachi, September 25, 2023 – Analysts have predicted that headline inflation in Pakistan for September 2023 could reach as high as 31.1 percent, primarily driven by surging energy prices. This projection comes as the country grapples with significant inflationary pressures.
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Pakistan’s State-Owned Enterprises (SOEs) incurred significant annual losses of around Rs500 billion during the year 2022 due to inefficiencies and mismanagement, according to Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance, Revenue, and Economic Affairs.
(more…)Karachi, September 21, 2023 – Pakistan’s foreign exchange reserves have seen an increase of $107 million for the week ending September 15, 2023, according to official data released on Thursday by the State Bank of Pakistan (SBP).
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Islamabad, September 21, 2023 – Pakistan’s caretaker Prime Minister, Anwaar-ul-Haq Kakar, met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in New York on the sidelines of the 78th UN General Assembly session to discuss the measures taken by the government to stabilize the country’s economy.
(more…)Islamabad, September 19, 2023 – The Economic Coordination Committee (ECC) has given its authorization to the Finance Division for the disbursement of projected net salaries for the first six months of the Financial Year 2023-24.
(more…)Karachi, September 16, 2023 – In an effort to encourage expatriate Pakistanis to send money back to their homeland, Pakistan has introduced a new incentive scheme.
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