Tribune
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Pakistan inflation jumps 31.5%, highest in nearly 50 years | The Express Tribune
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[ad_1] KARACHI: The Consumer Price Index (CPI), the inflation monitor, jumped 31.5% in February year-on-year, the Pakistan Bureau of Statistics (PBS) said on Wednesday, the highest annual rate in nearly 50 years, as food, beverage and transportation prices surged more than 45%. February’s 31.5% rate is the highest since 1974, a spokesperson for the PBS…
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Rupee slides to 265.83 in interbank market over IMF concerns | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency nosedived 1.65% (or Rs4.33) to Rs265.83 against the US dollar in the interbank market at 12:45 pm on Wednesday. The latest drop follows the International Monetary Fund (IMF) expressing concern with the incumbent government regarding the still-present control of the rupee in the interbank market. The rupee also took a…
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Islamabad baffled by IMF moving goalposts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Tuesday once again sought the US help to conclude a desperately-needed deal with the International Monetary Fund (IMF). It is “rare” that despite implementing tough decisions with high political cost, the coalition government has to deal with a situation where the global lender keeps changing the goalposts constantly. The request for…
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Govt slashes petrol price by Rs5 per litre | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar on Tuesday announced a reduction of Rs 5 per litre in the price of petrol in much-needed relief to the inflation-stricken people of the country. Announcing the new prices, Dar said that petrol price would be decreased from Rs272 to Rs267. However, despite a drop in diesel prices in the…
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SBP prepones meeting to hike key policy rate | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) on Tuesday preponed its meeting to Thursday regarding the matter of hiking up its key policy rate by 100-200 basis points on the recommendation of the International Monetary Fund (IMF). The policy rate currently stands at a 24-year high of 17%. The central bank, through its Twitter handle,…
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Soaring inflation and domestic politics | The Express Tribune
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[ad_1] LAHORE: A deal with the International Monetary Fund (IMF) is on the cards after meeting its front-loading conditions. The fund has already combined its ninth and tenth review which, in turn, delayed the disbursement of the much-needed loan tranche. The revival of the stalled programme will reduce the lingering economic uncertainty as Pakistan received…
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Solid waste: a challenge as well as opportunity | The Express Tribune
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[ad_1] ISLAMABAD: Solid waste has emerged as a real challenge to humanity and it is increasing with the rise in population and civilisation. A lack of sustainable solid waste management is posing threats and risks to human life in urban areas, however, this challenge may prove to be a great source of opportunities in terms…
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Govt agrees to increase interest rate by 200bps | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has accepted another pre-condition of the International Monetary Fund (IMF) for the release of $1.1 billion critical funding – a part of $6.5 billion bailout package – as the government agreed to increase the policy (interest) rate which stands at 17% by two per cent or 200 basis point. The increase is…
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Govt offers tax relief to foreign investors | The Express Tribune
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[ad_1] KARACHI: To attract foreign investment and boost State Bank’s foreign currency reserves, the government has exempted non-resident banking companies from paying taxes on profit earned through investment in debt securities like treasury bills (T-bills) and Pakistan Investment Bonds (PIBs). The Ministry of Finance and Revenue said in a notification on Wednesday (February 22) “profit…
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IMF flags debt restructuring hurdles | The Express Tribune
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[ad_1] BENGALURU: Group of 20 (G20) nations have some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund (IMF) said on Saturday, adding that banning private cryptocurrencies should be an option. India’s G20 presidency comes as its South Asian neighbours Sri Lanka, Bangladesh and Pakistan are seeking urgent IMF funds…
