Pakistan’s recent policy adjustments, demonstrated access to external financing, and its commitment to a market-determined exchange rate has offset rising external risks from a widening current-account deficit, according to Fitch Ratings. The rating agency stated in the report ‘Reforms and ...

KARACHI: The State Bank of Pakistan (SBP) has projected the real GDP growth at 4 per cent to 5 per cent for the current fiscal year, as per the actual target set for the fiscal year. However, the current account deficit has been projected at up to 3 per cent of the GDP as against the ...

ISLAMABAD – The International Monetary Fund (IMF) and Pakistan finally reached a staff-level agreement under the $6 billion Extended Fund Facility (EFF). Reports in local media said the global lender agreed to revive a $6 billion bailout package link for the South Asian country – providing a ...

KARACHI – The State Bank of Pakistan (SBP) expressed serious concerns over speculation by banks in the currency business, saying they were involved in the multibillion-rupee game. Banking sources said a high-level meeting, chaired by SBP Governor Dr Reza Baqir and attended by presidents of at ...

The current account deficit has reduced to USD 1.13 billion in September from USD 1.47 billion in August, according to a press release by the Ministry of Finance. Overall, the deficit in the first quarter was reported at USD 3.4 billion, said the statement. It is important to note that the ...

Pakistan’s current account recorded a massive deficit of $3.4 billion in the first quarter of FY2021-2022 owing to the increasing trade deficit in tandem with the high imports bill during the period from July to September in 2020. According to the State Bank of Pakistan (SBP), the current ...

KARACHI – The US Dollar continued its surge against the rupee on Monday, rising to a historic high of Rs173 in the interbank market. Reports cited that the Pakistani rupee continued to plunge, shedding an additional 82 paisas against the US dollar, which was being traded at Rs173 in the ...

KARACHI – The International Monetary Fund (IMF) Tuesday projected real Gross Domestic Product (GDP) to grow by 4.0 percent in the current fiscal year (2021-22) while the current account deficit was projected at 3.1% of the GDP or over $10 billion. In its World Economic Outlook (WEO) October ...

*The Pakistani rupee gained 0.68% against the US dollar in the inter-bank market on Monday, arresting a decline that saw it reach a nine-month low.* The PKR closed at 161.23 against the USD, said the State Bank of Pakistan (SBP).The increase comes after days of depreciation that eventually saw ...

Minister of State for Information and Broadcasting Farrukh Habib says volume of remittances and exports is expected to reach 55 billion dollars by the end of current fiscal year. In a video message today (Friday), he said prudent policies of the government have pushed the economy in a right ...