Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement, the international money lender revealed Monday. “The agreement is subject to approval by the Executive Board, following the implementation of prior actions, notably on fiscal and institutional reforms,” reads a statement by the IMF. “Completion of the review would make available SDR 750 مزید پڑھیں

State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Saturday emphasised the need for closer cooperation amongst banks, the central bank and the Federal Investigation Agency (FIA) so that “white-collar crimes are expeditiously investigated and fraudsters are apprehended and prosecuted.” According to a statement issued by the central bank, a meeting was held under مزید پڑھیں

The price of gold in Pakistan fell on Saturday as concerns regarding rupee-dollar parity triggered uncertainty in the commodity market. Gold prices in the local bullion market recorded a decrease of Rs800 per tola and Rs686 per 10 grams to settle at Rs123,800 per tola and Rs106,138 per 10 grams. On Friday, the yellow metal مزید پڑھیں

The Pakistan Stock Exchange (PSX) posted modest gains during the pre-monetary policy announcement session, finishing the trading week in the green. Investors looked for shares at attractive valuations after sustained selling for the last two days opened some windows. The State Bank of Pakistan (SBP) was set to announce a new benchmark interest rate towards مزید پڑھیں

Compared to the overall growth of 8 percent in remittances in South Asia, the remittances into Pakistan grew by 26 percent during the year 2021, according to estimates from the World Bank’s Migration and Development Brief. “Pakistan had another year of record remittances with growth at 26 percent and levels reaching $33 billion in 2021,” مزید پڑھیں

In line with market expectations, the State Bank of Pakistan (SBP) on Friday announced an increase of 150 basis points in its benchmark policy rate in a bid to contain runaway inflation, which threatens to destabilise the economy. The central bank had earlier brought forward its monetary policy review meeting in light of “recent unforeseen مزید پڑھیں

Prime Minister Imran Khan on yesterday said that the government was striving for a better and easy taxation system in the country. The prime minister, in a meeting with economic expert Arthur Betz Laffer, who called on him, said the record tax collection by the incumbent government manifested people’s trust on the government. The discussion مزید پڑھیں

The US dollar lost 40 paisas against the rupee on Tuesday in the inter-bank market, with currency experts believing that the rebound came on the back of technical correction. With a fresh increase of 0.23%, the Pakistani rupee settled at Rs174.89 against the US dollar in the inter-bank market today. Commodities Director Adnan Agar said مزید پڑھیں

In a major move, the State Bank of Pakistan (SBP) on Saturday increased the Cash Reserve Requirement (CRR) by one percentage point to 6pc for scheduled banks in order to contain monetary expansion. “In recent months, real money supply growth has drifted above its trend,” said the central bank in a circular, adding that the مزید پڑھیں

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Sunday said that uncertainty surrounding the International Monetary Fund’s (IMF) loan facility for Pakistan will be over soon, saying a “good news” was on the cards. Tarin had earlier this month announced that the government’s agreement with the IMF over the revival of مزید پڑھیں