A currency dealer counts US dollars at a store in Karachi, May 19, 2022. — AFP The country’s foreign exchange assets also include gold reserves of $5.5 billion. Commercial bank liquid reserves of $4.7 billion are not included. Increase in foreign exchange reserves due to strict import restrictions: expert. KARACHI: Pakistan’s total foreign exchange assets … Read more
IMF Managing Director Kristalina Georgieva speaks during a press briefing during the 2024 Spring Annual Meetings of the IMF and the World Bank in Washington, United States, April 19, 2024. — Reuters Higher interest rates persist, affecting global economic stability. Diverging regional growth trends highlight uneven recovery trajectories. The IMF warns of rising financing costs … Read more
The image shows the members of the KCCI committee. – Journalist As Pakistan faces economic uncertainty, the Karachi Chamber of Commerce and Industry (KCCI) has taken a crucial step towards promoting inclusive growth in the agriculture sector. The KCCI established an agricultural committee to foster collaboration between small and medium enterprises (SMEs), large businesses and … Read more
Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), addresses an event. — National Defense University website/file FBR chairman urges people to pay their taxes. He says the tax rates are wrong and should be corrected. The objective is to bring the richest individuals to net-of-tax income. Slamming the culture of tax evasion … Read more
The flags of Pakistan and China are seen at the entrance of the China Pavilion, during the “IDEAS 2022” international defense exhibition and seminar in Karachi, Pakistan, November 16, 2022. — Reuters Pakistan and China exchange views on a range of regional and international issues. The two sides also agree to further strengthen their mutual … Read more
A customer buys rice at a wholesale store in Karachi, June 8, 2023. — AFP The drop represents the lowest inflation rate since October 2014. Experts attribute much of the decline in inflation to a high base effect. The sensitive price indicator shows a decline of 0.65% compared to the previous week. Inflation in Pakistan … Read more
Employees photographed in an office. — AFP/File No new position will be created without the prior agreement of the Finance Division. The Division requests details of employee-related expenses from departments. All ministries must complete the form whose acceptance is linked to ERE affirms. ISLAMABAD: In its attempt to reduce public expenditure, the Ministry of Finance … Read more
Broker busy trading at the Pakistan Stock Exchange (PSX) in Karachi on Thursday, December 5, 2024. — PPI The KSE-100 index closed at 112,638.26, marking a sharp decline. Overall, the index lost 1,510.19 points, or -1.32%, during the session. The index fell to an intraday low of 112,594.66 points. The stock market remained under pressure … Read more
State Bank of Pakistan Governor Jameel Ahmad speaking at an event organized by the Federation of Pakistan Chambers of Commerce and Industry in Karachi on January 9, 2025. — Screenshot/GeoNews The head of the SBP expresses his hope for greater stability in the economy. Jameel says SBP is dedicated to achieving its inflation targets. He … Read more
US dollars are counted by a banker who counts currency at a bank. —Reuters H1FY25 remittances increased 32.8% YoY Top remittance sources: Saudi Arabia, United Arab Emirates and United Kingdom. Higher incomes and digital infrastructure as drivers. Pakistan’s remittances reached $3.1 billion in December, an increase of 29.3 percent year-on-year, central bank data showed on … Read more