Category: News

Good Morning The International Monetary Fund on Thursday said its executive board had approved $1.386 billion in emergency financing to Pakistan to meet balance of payment need stemming from the novel coronavirus pandemic. In a surprise move, the State Bank of Pakistan (SBP) on Thursday cut the benchmark interest rate by 200 basis points to a… Continue reading Daily News:17th April 2020

Good Morning Pakistan has been included in the group of countries eligible for debt relief on all principal and interest payments to official bilateral creditors announced by the G20 countries in their Riyadh meeting on Wednesday. The G20 grouping had been urged by the World Bank and the International Monetary Fund (IMF) to extend debt… Continue reading Daily News:16th April 2020

Good Morning The State Bank of Pakistan (SBP) said on Tuesday that the global and domestic spread of Covid-19 has brought an exceptional set of challenges for the country and as the situation is extremely fluid and highly uncertain, the economic outlook remains subdued compared to the pre-outbreak estimates. The International Monetary Fund (IMF) has projected… Continue reading Daily News:15th April 2020

Good Morning The State Bank of Pakistan (SBP) on Monday announced the auction for three-year Government of Pakistan (GoP) Ijara Sukuk to raise some Rs 225 billion in the next three months for the federal government. The World Bank has forecast that if the novel coronavirus (COVID-19) lasts longer than expected, Pakistan’s exports could plunge… Continue reading Daily News:14th April 2020

Good MorningThe weekly inflation during week-ended April 9 against March 26-April 2, 2020 on Week-on-Week (WoW) basis witnessed a reduction of 0.44 percent for combine income group from 125.52 points to 124.97 points, the Pakistan Bureau of Statistic (PBS) revealed. Workers’ remittances increased six percent to $16.9 billion in the first nine months of the… Continue reading Daily News:13th April 2020

Good Morning The foreign exchange reserves held by the central bank decreased 4.14% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 3, the foreign currency reserves held by the SBP were recorded at $10,722.5 million, down $463 million compared with $11,185.6 million in the… Continue reading Daily News:10th April 2020

Good Morning The International Monetary Fund plans on providing Pakistan $1.4 billion by next week  to improve the country’s financial situation as it fights coronavirus,   Arab News reported on Wednesday. The Economic Coordination Committee (ECC) of the Cabinet on Thursday (today) is likely to approve issuance of long-awaited Pakistan Energy Sukuk-II worth Rs 200 billion to… Continue reading Daily News:9th April 2020

Good Morning In the aftermath of the spread of deadly COVID-19 virus in different parts of the world, the Financial Action Task Force (FATF) has extended its deadline for complying conditions for Pakistan for three months up to September from earlier June 2020. Rupee hit another record low of 167.89 to the US dollar in the… Continue reading Daily News:8th April 2020

Good MorningThe federal cabinet, which is scheduled to meet on Tuesday (today) with the prime minister in the chair and will formally approve tax exemptions on the funds to be extended to the Prime Minister’s Covid-19 Pandemic Relief Fund 2020, till June 30, 2021. The Oil and Gas Regulatory Authority (OGRA) on Monday notified a… Continue reading Daily News:7th April 2020

Good Morning The SPI inflation during the week ended April 2 against March 26 on Week-on-Week (WoW) basis witnessed a reduction of 2.01 percent for combined income groups, ie, from 128.10 points to 125.52 points, the Pakistan Bureau of Statistic (PBS) revealed. The World Bank (WB) has revised the real GDP growth projection massively for Pakistan… Continue reading Daily News:6th April 2020