Minister of State for Finance Aisha Ghaus Pasha on Wednesday said the current account deficit had reached $17 billion in the last financial year. “The current account deficit increased in the last year and we faced this situation,” she told the Senate Standing Committee on Finance. She added that as the International Monetary Fund (IMF) مزید پڑھیں

The Pakistani rupee’s downfall against the US dollar continued for the fifth consecutive session on Thursday with the greenback’s global strengthen and local factors contributing to the depreciation. The local unit was changing hands at 225.19 after losing 1.69 in the interbank market during the intraday trade, down in value from the previous session’s close مزید پڑھیں

The Pakistani rupee is struggling against the US dollar after its recent rally came to a grinding halt last week. The US dollar appreciated by Rs0.52 to rise to Rs219.50 in interbank on Monday, despite a $1.1 billion from the International Monetary Fund (IMF). Rupee’s three-day winning streak of about Rs3.30 was broken on Thursday مزید پڑھیں

The catastrophic floods in Pakistan have caused economic damages from $10 billion to $12.5 billion apart from the loss of lives as estimated by the government, projecting a rise in inflation in the range of 24-27% on touch 30% for the current fiscal year. A high-profile committee with representation from the Ministry of Finance, Ministry مزید پڑھیں

The PKR lost Rs1.1 against the dollar during morning trade in the interbank market on Friday, breaking a three-day recovery streak. The local currency was changing hands at Rs219.7 per dollar at 11:45am, according to data shared by the Forex Association of Pakistan. Saad bin Naseer, director of financial data and analytics portal Mettis Global, مزید پڑھیں

 The International Monetary Fund (IMF) has warned against protests and instability in Pakistan amid rising inflation — which just hit a 47-year-high in August. Pakistan’s inflation measured by the consumer price index (CPI) has hit a 47-year high, accelerating to 27.3% in August 2022, the level last seen in May 1975. The full impact of مزید پڑھیں

Miftah Ismail on Friday hinted that his time as finance minister could be cut short, saying that the government has 13 months but he “may not even have that much time”. “I don’t know how long I will stay, but the government, God willing, will stay for 6.5 years,” he said at an event at مزید پڑھیں

The government on Wednesday granted exemption of sales tax and withholding tax on the import of tomatoes and onions till December 31 in an effort to reduce shortages amid the destruction caused by the floods. The Federal Board of Revenue (FBR) issued the notifications after the federal cabinet approved a summary in this regard. According مزید پڑھیں

The National Electric Power Regulatory Authority (NEPRA) hinted at increasing electricity rates by Rs4.34 per unit for the consumers of all distribution companies (DISCOs) except for K-Electric even with the Lahore High Court’s Rawalpindi bench barring the authorities concerned a day earlier from collecting the fuel price adjustment (FPA) charges. In another application, NEPRA has مزید پڑھیں

The federal government once again announced increasing the price of petrol by Rs2.07 per litre for the first half of September, a statement issued by the Finance Division said. Following the changes in the prices, petrol will now be available for Rs235.98 per litre. Meanwhile, there is also an increase of Rs2.99 in the price مزید پڑھیں