Category: News

Good Morning Pakistan is facing the worst economic conditions in its history — a negative economic growth at 1.57 per cent and a fiscal deficit of 9.6pc — during the current fiscal year owing to economic losses in the aftermath of coronavirus pandemic. Estimating a shortfall of about 16 per cent against the target for… Continue reading Daily News:29th April 2020

Good Morning The Economic Coordination Committee (ECC) of the Cabinet has approved the prime minister’s relief package of Rs50.69 billion for small and medium enterprises (SMEs) through pre-paid electricity and credit loss subsidy of Rs30 billion for the risk sharing facility for the State Bank of Pakistan’s (SBP’s) refinance scheme to support employment and prevent… Continue reading Daily News: 28th April 2020

Good Morning The weekly inflation during week ended April 23 against April 16, 2020 on Week-on-Week (WoW) basis witnessed an increase of 0.62 percent for combine income group, from 125.16 points to 125.93 points, the Pakistan Bureau of Statistic (PBS) revealed. Prices of essential kitchens items have witnessed an increasing trend during this past week compared… Continue reading Daily News:27th Apr 2020

Good Morning The financial support from the International Monetary Fund (IMF) and other multilaterals has lowered Pakistan’s financing risks from the coronavirus-related economic shock even though its fiscal deficit may touch double digits. Current account deficit during the first three quarters of current fiscal year shrank by 73 per cent to $2.768 billion compared to… Continue reading Daily News:24th April 2020

Good Morning Pakistan Wednesday received inflows amounting to $ 1.39 billion from the International Monetary Fund (IMF) under the Rapid Financing Instrument to address the economic impact of the COVID-19 shock. Following reduction in key policy rate, margin on all short-term government papers declined up to 250 basis points (bps) in the auction held Wednesday.… Continue reading Daily News: 23th April 2020

Good Morning Foreign Direct Investment (FDI) in Pakistan rose sharply by 137 percent YoY during the first nine months of this fiscal year (FY20).The State Bank of Pakistan (SBP) Monday reported that Pakistan fetched FDI amounting to $2.148 billion during July-March of FY20 compared to $905 million in the same period of last fiscal year… Continue reading Daily News: 21st April 2020

Good Morning China will contribute $6.3 billion in financing to Pakistan over the next 12 months with all key bilateral partners committing to maintaining their exposure throughout the Extended Fund Facility (EFF) programme which would remain in effect, says the International Monetary Fund (IMF). Pakistan’s primary deficit is now expected to deteriorate to 2.9 percent of… Continue reading Daily News: 20th April 2020

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