ISLAMABAD: Shaukat Tarin, Adviser to Prime Minister on Finance and Revenue, on Monday said that staff-level agreement has been finalized and IMF executive board would approve the tranche by January 12, 2022. The adviser said an agreement between Pakistan and International Monetary Funds (IMF) under Extended Fund Facility (EFF) worth $1.059 billion had been finalized. […]
ISLAMABAD: The International Monetary Fund (IMF) on Monday outlined prior actions for Pakistan for the release f $1.059 billion under Extended Fund Facility (EFF). The IMF stated that its mission led Ernesto Ramirez Rigo held virtual discussions during October 4–November 18, 2021 in the context of the sixth review of the authorities’ reform program supported […]
KARACHI: The stock market to wait for the IMF package during the next week, which is current stalled. Analysts at Arif Habib Limited said that despite noise gaining traction on the economic front, we believe there is some silver lining; 1QFY22 fiscal deficit declined by 9.2 per cent YoY whereas local production also appears under […]
KARACHI: The stock market likely to stay positive during the next week owing to expectation of IMF and Pakistan reach agreement. Whereas, current macro-economic concerns such as higher inflationary reading due to jump in petroleum prices could keep the market range-bound. Analysts at Arif Habib Limited said that the market to remain positive in the […]
ISLAMABAD: The ministry of finance on Sunday rejected a news story regarding failure of talks between Pakistan and the International Monetary Fund (IMF), said there was not any deadlock with the IMF. Finance ministry spokesman Muzammil Aslam, in a statement, said that there was not truth in news about the deadlock, adding that the talks […]
Washington, DC: International Monetary Fund (IMF) on Monday started distribution of the largest ever allocation of $650 billion to provide additional liquidity to the global economic system. Ms. Kristalina Georgieva, Managing Director of the IMF made the following statement on Monday: “The largest allocation of Special Drawing Rights (SDRs) in history—about US$650 billion—comes into effect […]
KARACHI: The Pak Rupee (PKR) made a gain of 42 paisas against the dollar on Wednesday after witnessing deterioration in first two days of the week. The rupee ended Rs163.47 to the dollar from previous day’s closing of Rs163.89 in the interbank foreign exchange market. The local currency lost Rs1.46 against the dollar during first […]
ISLAMABAD: The Federal Board of Revenue (FBR) has estimated Rs5,700 billion as a net revenue collection for the next fiscal year 2021/2022, around Rs263 billion less then projection of International Monetary Fund (IMF). Sources on Thursday said that at the first day of tree-day meeting of the ministry of finance/FBR with the representatives of the […]
KARACHI: The National Assembly likely to adopt amendments to State Bank of Pakistan (SBP) Act by September 2021. This was assured by the Pakistani authorities to International Monetary Fund (IMF). The ministry of finance submitted the amendments to parliament in March 2021 and the authorities expect adoption by parliament by end-September 2021. The authorities assured […]
ISLAMABAD: Harmonization of sales tax between federal and provincial tax authorities may be completed by end-June 2021, officials in the Federal Board of Revenue (FBR) said on Wednesday. The FBR said that the authorities were in the process of harmonizing the service sales tax across provincial jurisdictions, with support from the World Bank, which will […]