The Finance Ministry has reportedly decided to slash the Public Sector Development Program (PSDP) by almost 50 percent to Rs. 350 billion for securing the IMF Loan Program. Finance Ministry has reportedly decided to reduce PSDP funds to Rs. 350 billion from Rs. 728 billion for the current fiscal ...

*ISLAMABAD: Pakistan’s GDP growth is unlikely to cross 3 percent in the next fiscal year (2022-23) due to contractionary monetary and fiscal policies under the International Monetary Fund (IMF) programme.* While talking to *Business Recorder*, former Finance Minister Dr Hafeez Pasha said the ...

According to the minister, the IMF has put five major demands before the Shehbaz Sharif government for slashing down the primary deficit by Rs1,300 billion through withdrawal of fuel subsidy of Rs150 billion on monthly basis and taking additional taxation measures for reviving the stalled ...

ISLAMABAD:The Federal Government has released Rs603.5 billion out of total allocation of Rs900 billion for various ongoing and new social sector uplift projects of the federal ministries and division in first nine months (July-March) of fiscal year 2021-22 under its Public Sector ...

In terms of the percentage of the GDP٫ it has been projected that Pakistan overall budget deficit will be narrowed to 5.8 percent from 6.3 percent of the GDP. It is pertinent to mention here that the previous government had rebased the size of the economy from Rs. 53,867 billion to Rs. 63,978 ...

The Economic Coordination Committee has approved a technical supplementary grant worth 190 million dollars to National Disaster Management Authority for the procurement of Covid vaccine. The ECC in its meeting held in Islamabad with Minister for Economic Affairs Omar Ayub Khan in the chair also ...

ISLAMABAD: The Petroleum Division would carry out six new projects worth Rs1.775 billion during the current fiscal year 2021/22 to achieve self-sufficiency in the energy sector, streamline matters related to minerals’ regulatory framework and data compilation. According to the official ...

The economic momentum is expected to accelerate further during the financial year 2021-2022 increasing the pace of growth of the closing financial year due to the revival of business activities across the country. The optimistic outlook is thanks to the expanding vaccine roll-out and relatively ...

ISLAMABAD – Over one billion dollars of Chinese investment is expected in Gwadar Free Zone phase two inaugurated by Prime Minister Imran Khan, Minister for Planning and Development Asad Umar said Tuesday. Speaking with media persons in Gwadar, the ruling party member said that China is ...

ISLAMABAD – G-20, the premier forum of the world’s leading economies, has suspended Pakistan's debt of $3.17 billion by the end of this year. Minister for Information and Broadcasting Chaudhary Fawad Hussain shared the positive news while addressing media in Islamabad. He said this is yet ...