State Bank makes major reduction in interest rate by 200bps to 17.5%
State Bank of Pakistan building in this undated image. — AFP The Monetary Policy Committee (MPC) decided a significant reduction in the policy rate by 200bps to 17.5% from the existing 19.5%, the State Bank of Pakistan (SBP) announced on Thursday, following the sharp decline in inflation over the past two months. The new policy […]
State Bank of Pakistan slashes policy rate by 200 BPS amid falling inflation | The Express Tribune
The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to falling […]
FinMin Aurangzeb discusses Pakistan’s reform agenda with US State Dept’s Donald Lu
Assistant Secretary Donald Lu (left) and Principal Deputy Assistant Secretary Elizabeth Horst of US State Department meet Finance Minister Mohammad Aurangzeb at the World Bank headquarter in Washington on April 18, 2024. — X/@Financegovpk WASHINGTON: A high-level meeting between Finance Minister Muhammad Aurangzeb and United States State Department Assistant Secretary Donald Lu discussed Pakistan’s reform […]
FinMin Aurangzeb fills in PM Shehbaz on state of economy ahead of IMF talks
Finance Minister Muhammad Aurangzeb (left) meets Prime Minister Shehbaz Sharif on April 12, 2024. — APP Finance Minister Muhammad Aurangzeb on Friday met Prime Minister Shehbaz Sharif and briefed him about his scheduled meetings with the officials of the International Monetary Fund (IMF), World Bank (WB), and other institutions during his upcoming visit to the […]
How much money is required to retire comfortably in every US state?
A group of US senior citizens sitting in a park. — X/@asleycourtcare Even though retirees in the United States may relocate to a location with better weather or to be nearer to family, living expenses can also play a significant role. According to a new GOBankingRates review of retirement expenses in all 50 states and […]
FM pushes privatisation of state insurers | The Express Tribune
KARACHI: Caretaker Finance Minister Dr Shamshad Akhtar has advised privatising state-owned insurance companies like the State Life Insurance Corporation of Pakistan (SLIC) to reduce public sector dominance, attract foreign investment, and provide a level playing field to the private sector to lift insurance penetration, which remains at less than 1% in Pakistan at present. She […]
State finance minister hits out at IMF for ‘meddling’ | The Express Tribune
ISLAMABAD: Minister of State for Finance Dr Aisha Ghaus Pasha termed a statement spelling out conditions to unlock the stalled bailout package by the International Monetary Fund (IMF) as “meddling in internal affairs”. Earlier this week, the IMF had urged Pakistan to follow the Constitution in order to resolve its political disputes, as Prime Minister […]
Govt plans to sell state units to foreign countries | The Express Tribune
ISLAMABAD: The government on Friday decided to sell state-owned enterprises to foreign countries through negotiated deals instead of conducting transparent bidding and also ruled out the possibility of handing over management control of power distribution companies to the private sector. The decisions taken by the Cabinet Committee on Privatisation (CCOP) mark a departure from the […]
State Bank revises office timings | The Express Tribune
KARACHI: The State Bank of Pakistan (SBP) has revised the working days and timings with immediate effect. In a statement issued on Friday, the central bank notified the revised timings ie Monday to Thursday from 9am to 5.30pm, with prayer/ lunch break from 1.30pm to 2.15pm. Whereas, the office hours on Friday would be from […]
State Bank succumbs to reality | The Express Tribune
KARACHI: The State Bank of Pakistan (SBP) has finally taken a much overdue and corrective decision by increasing the policy rate by a massive 250 basis points (bps) to 12.25%. To put this move into context, such a large jump has not been witnessed in the 21st century. Interestingly, the SBP has not given any […]