National
The Pakistani rupee has seen a slight recovery of 0.02% against the US dollar, reaching Rs285.35 in the interbank market. However, financial experts are predicting further depreciation of the currency as the revival of the International Monetary Fund (IMF) loan program draws near. The IMF has reminded the
Government
The International Monetary Fund (IMF) has called upon Pakistan to eliminate the dual exchange rate system and share a revised budgetary framework for the current fiscal year and the upcoming budget (2023-24) in order to reach a staff-level agreement. Concerned about low revenues and unchecked expenditures, the IMF
National
The Pakistani rupee is likely to face more pressure in the open market next week as a shortage of the dollar persists. However, in the interbank market, the rupee is expected to trade within a narrow range, as administrative measures are implemented to stabilize rates. The economic challenges facing Pakistan,
National
The State Bank of Pakistan (SBP) has provided a grim assessment of the country's economic prospects, stating that growth for the current fiscal year will fall significantly short of the previously revised projection of around 2%. This stands in stark contrast to a few research houses' forecasts,
World
In a positive development for Pakistan's economy, the current account recorded a surplus for the second consecutive month in April. The surplus amounted to $18 million, a significant improvement compared to the $640 million deficit recorded in the same period last year, according to data released by the
Breaking News
The International Monetary Fund (IMF) has reportedly urged Pakistan to procure a substantial amount of $8 billion to successfully conclude its bailout review. This financial requirement has placed Pakistan's economic stability under scrutiny, as the nation seeks to meet the conditions set forth by the IMF. The following
National
Inflation continues to devastate the lower and middle-income groups in Pakistan as prices soar, particularly for essential goods such as potatoes and chicken. The Pakistan Bureau of Statistics (PBS) reports that the weekly inflation rate increased by 46.82% year-on-year and 0.15% week-on-week in
National
The Saudi Fund for Development (SFD) has signed a loan agreement worth $240 million with Pakistan to support the Mohmand Multipurpose Dam Project, aimed at promoting sustainable development and achieving the Sustainable Development Goals (SDGs). The project is co-financed by the SFD, OPEC, Islamic Development Bank, and the Kuwait
National
The Government of Pakistan has announced a revision in the profit rates of national savings schemes, increasing them by up to 4.13%. The move aims to make the schemes more attractive and mobilize investments from the general public. The Central Directorate of National Savings (CDNS) has increased the rate
World
The US Dollar continued its upward trend against the Pakistani Rupee on Friday, gaining a record 25 paisas in the interbank trading. The local currency had appreciated by 1.21 percent on Thursday, halting the US Dollar's advance. However, it bounced back the next day after Saudi Arabia
World
Saudi Arabia has signed a $240 million loan agreement with Pakistan to support the Mohmand Dam project in the northwestern Khyber Pakhtunkhwa province. The agreement was signed in Islamabad by officials from the Ministry of Economic Affairs and the Saudi Ambassador to Pakistan, Nawaf bin Said Al-Malki. The loan
National
The Pakistani rupee has gained over 1% against the US dollar in interbank trade on hopes of a revival of the International Monetary Fund (IMF) bailout. The IMF has received confirmation from Saudi Arabia on $2bn in additional deposits, raising hopes of an early signing of the agreement. Islamabad has