KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) have increased to $18.658 billion after a deposit of $3 billion from Saudi Fund for Development (SFD). READ MORE: Pakistan’s import cover reduces to two months The SBP on Thursday said during the week ended December 03, 2021a deposit of US$ 3,000.0 million […]
ISLAMABAD: Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue, Thursday said prudent fiscal reforms have helped in improving the tax-to-GDP ratio. He said this while addressing at an event organized by Pakistan Business Council. READ MORE: Tax to GDP ratio at 20% prime objective: Tarin The adviser highlighted the economic priorities of […]
ISLAMABAD: The government has announce sharp increase in profit rates for national saving scheme following the significant rise in key policy rate announced last month by the State Bank of Pakistan (SBP). The Central Directorate of National Savings (CDNS) on Thursday notified increase in profit rates of saving schemes. The CDNS increased the profit rate […]
ISLAMABAD: The government has made mandatory the biometric verification for pensioners to make withdrawal of their pension amount from banking system. In an office memo, the Finance Division said that the mandatory requirement of biometric verification has been restored for the pensioners, which was suspended due to COVID-19. READ MORE: Grant of 10% increase in […]
ISLAMABAD: The International Consortium of Investigative Journalists (ICIJ) has shared information related to the Pandora Papers with the Prime Minister’s Inspection Commission (PMIC), a statement said on Wednesday. It said that the investigation into Pandora Papers is now at a fairly advanced stage. In the first phase, PMIC collated information regarding the individuals and entities […]
ISLAMABAD: Pakistan on Wednesday established a fund namely ‘Afghanistan Relief Fund’ to provide humanitarian assistance to Afghanistan. According to a notification issued by the Finance Division, all proceeds on account of ‘Afghanistan Relief Fund’ and payment into the aforesaid fund will be received at all branches of State Bank of Pakistan, all treasuries and branches […]
ISLAMABAD: Pakistan’s trade deficit ballooned by 112 per cent to $20.59 billion during the first five months (July – November) of the current fiscal year 2021/2022, according to official data released on Thursday. The trade deficit was at $9.72 billion in the same months of the last fiscal year, revealed by the data released by […]
KARACHI: Pakistan’s import cover has been reduced to two months with a reduction in official foreign exchange reserves of the State Bank of Pakistan (SBP) to $16.01 billion. The import cover was 3.3 months in August 2021, according to analysts at Topline Securities. According to the data released by the SBP, its official reserves were […]
ISLAMABAD: Shaukat Tarin, Adviser to Prime Minister on Finance and Revenue, has directed the authorities to take measures to reduce the import of luxury items. He was presiding over a meeting to review the balance of trade at Finance Division on Thursday. Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister […]
ISLAMABAD: Prime Minister Imran Khan on Wednesday emphasized that timelines specified for completion of China-Pakistan Economic Corridor (CPEC) should be adhered to. Prime Minister Imran Khan chaired a high level meeting to review progress on CPEC projects. The Prime Minister emphasized that timelines specified for completion of CPEC projects should be adhered to. He said […]