National
In May, Pakistan's current account posted a surplus of $255 million, a significant turnaround from the $1.506 billion deficit recorded in the same month of the previous year. This positive development contributed to a substantial reduction in the country's current account deficit (CAD) for the
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
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
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
Government
In a recent statement, Minister of State for Finance, Dr. Aisha Ghaus Pasha, emphasized that the government is in constant communication with the International Monetary Fund (IMF) and is committed to staying on track with the Fund's program. Pasha highlighted that the government had faced significant political costs
National
Pakistan is facing a critical situation as it struggles to secure a $1.2 billion loan tranche from the International Monetary Fund (IMF) while also needing to repay $3.7 billion in external debt by June 30th. Despite Finance Minister Ishaq Dar's claims that the government has fulfilled