National
On July 1, 2023, the Pakistani rupee's exchange rates against major currencies were updated in the open market. These rates, subject to fluctuations driven by market forces and currency demand, provide insight into the value of the Pakistani rupee in relation to other currencies. For one US dollar
National
According to a report by Bloomberg Economics, Pakistan is likely to avert default this year as it secured a last-minute bailout from the International Monetary Fund (IMF). The report states that a staff-level agreement signed with the IMF indicates that aid will finally be received after months of
Government
Pakistan has finally reached a staff-level agreement with the International Monetary Fund (IMF) on a much-awaited $3 billion stand-by arrangement, providing a lifeline to the country on the brink of default. The deal, subject to approval by the IMF board in July, offers respite to Pakistan as
Government
Prime Minister Shehbaz Sharif recently met with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris to reaffirm Pakistan's commitment to completing the loan program with the financial institution. This was the third meeting between the prime minister and the IMF chief, taking place
National
The Pakistani government has made significant changes to its budget for the upcoming fiscal year in an effort to secure critical funding from the International Monetary Fund (IMF). Finance Minister Ishaq Dar announced the revised measures, which include fiscal tightening and tax increases, aimed at generating an additional Rs215 billion
National
In a significant development, Pakistan has paid for a shipment of discounted Russian crude oil in Chinese currency, according to Minister of State for Petroleum, Musadik Malik. The country faced a shortage of dollars and a dispute between the United States and Russia over the Ukraine issue, which led to
World
In a recent opinion piece for The Guardian, comedian Rowan Atkinson expressed skepticism about the environmental benefits of electric vehicles (EVs). However, a response by Simon Evans from Carbon Brief counters Atkinson's claims, highlighting their inaccuracies and presenting evidence that supports the advantages of EVs. Atkinson relies on
National
The International Monetary Fund (IMF) has emphasized the need for Pakistan to pass a budget that aligns with the program objectives in order to revive the stalled loan facility. Esther Perez Ruiz, the IMF Resident Representative for Pakistan, stated that the proper functioning of the foreign exchange market must be
National
In an effort to attract billions of dollars to the country and avoid a potential default, the government of Pakistan is contemplating amending the Income Tax Ordinance. The proposed amendment aims to allow individuals to bring in up to $100,000 from abroad without having to disclose the source of
National
In an announcement on Wednesday, Ashfaq Tola, Chairman of the Reforms & Resource Mobilisation Commission, revealed that government employees can expect a substantial pay hike of approximately 20% in the forthcoming budget. Mr. Tola emphasized the need to boost the salaries of lower-grade employees, noting that their current remuneration
National
The federal government of Pakistan is set to release the Economic Survey of Pakistan 2022-23 today, providing a comprehensive overview of the country's socio-economic progress during the previous fiscal year. The pre-budget document, to be unveiled by Finance Minister Ishaq Dar, will highlight key achievements,
National
The upcoming budget for the 2023-24 fiscal year in Pakistan is expected to strike a delicate balance between meeting International Monetary Fund (IMF) requirements and appealing to voters ahead of the imminent general election, according to analysts. With Pakistan's IMF program set to expire this month and