Pakistan seeks $1.4 billion additional IMF loan
ISLAMABAD: Pakistan has initiated negotiations with the International Monetary Fund (IMF) for an additional grant of $1.4 billion on fast track basis.
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Tag: finance ministry
FBR advised to enhance monitoring, enforcement for achieving annual targets
ISLAMABAD: The ministry of finance has advised Federal Board of Revenue (FBR) to enhance monitoring and enforcement in order to achieve annual targets.
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Fiscal deficit narrows at 2.3% in first half 2019/2020
KARACHI: The ministry of finance on Friday said that the fiscal deficit narrowed at 2.3 percent of the GDP during first half (July – December) 2019/2020 as compared with 2.7 percent in the corresponding half of the last fiscal year. Analysts at Topline Securities said importantly though, the primary balance during the period clocked in […]
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Finance ministry urges careful media reporting over ebb
ISLAMABAD: The ministry of finance on Tuesday urged the media for careful reporting over the ebb and flows of Pakistan Stock Exchange (PSX). “Yesterday as being unfortunate as such reports highlighting sharp volatility in the market damage the interest of the small investors and create uncertainty in the market,” a statement said. “The role of […]
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Finance ministry hopes ease in inflation in coming days
ISLAMABAD: Ministry of Finance has said that the outcome of stabilization policies, agriculture sector interventions, rigorous monitoring at federal/provincial levels, and favorable weather will bring better results in easing out inflation and sustaining the economy towards growth and productivity in the coming days. Adverse effects of pre-monsoon rains on the wheat crop, disruption of the […]
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National Savings screening meant to stop ill-gotten money: Finance Division
ISLAMABAD: The Finance Division on Monday said that the screening of all saving schemes is meant to stop any ill-gotten money to become part of financial system and to safeguard the valued investors from the menace of Money Laundering and Terrorist Financing. The Ministry of Finance, while clarifying news reports, said that Central Directorate of […]
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National Saving Scheme AML, CFT Rules: Supervisory board constituted for monitoring
ISLAMABAD: The ministry of finance has constituted supervisory board to provide independent oversight of implementation of National Savings Schemes (AML and CFT) Rules, 2019. The advisory board has been comprised of: 01. Additional Finance Secretary (Budget): Chairman 02. Syed Jahangir Shah, Director, State Bank of Pakistan: Member 03. Ms. Tanzila Nisar Mirza, Additional Director, Securities […]
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Treasury Single Account to have every penny of public money: finance ministry
ISLAMABAD: Every penny of the public money shall be reverted to the Treasury Single Account (TSA), within the framework of different authorized accounts of government in the State Bank of Pakistan (SBP) or its nominated agency and cash therein shall be zero balanced, the ministry of finance said. According to Budget Manual issued this month […]
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Economy likely to grow better than World Bank forecast
ISLAMABAD: The finance ministry on Thursday said that the economy likely to grow better than forecast of World Bank. The ministry said that the government’s extensive measures have helped the economy move progressively along the adjustment path and stabilization process and economic recovery is expected towards the end of FY2020. “The government is focused on […]
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IMF acknowledges Pakistan’s reform program on track: finance ministry
ISLAMABAD: The ministry of finance has said that International Monetary Fund (IMF) has acknowledged Pakistan’s reform program on track and business and market confidence is returning. In a statement on Sunday, the finance ministry highlighted IMF Board Assessment key economic performance indicators. It said that on the completion of first review of Pakistan’s economic performance, […]
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