Finance ministry says with concurrence of the IMF, it has updated revised figures on its website, showing a surplus for Pakistan's most populous province
Remarks come as Pakistan delegation meets Middle East and Central Asia Department (MCD) Director Jihad Azour on sidelines of IMF, World Bank annual meetings in Washington
In staff report, lender says risks, notably from high public debt and gross financing needs, low gross reserves and sociopolitical factors, could jeopardise policy implementation and erode repayment capacity and debt sustainability
Eager to start number of mining initiatives but hope to close Reko Diq project with Pakistan's SOEs and Barrick Gold in the coming weeks, says Saudi Arabia Minister for Investment
National Accounts Committee says growth in agriculture, industry and services stands at 6.76%, -3.59% and 3.69%, respectively, in fourth quarter of 2023-24
In its press release issued after Executive Board approval, IMF says difficult business environment, weak governance, and outsized role of the state hinder investment
Finance Division says ambassador has indicated that a Saudi business delegation could visit Pakistan in coming months to explore areas for joint ventures, collaborative investments
P@SHA says government's lack of transparency around firewall has "ignited a firestorm of distrust" among internet users and Pakistan's global IT clients who fear their proprietary data and privacy will be compromised
Former finance minister says the reduction in revenue collection from eliminating taxes can be offset by reducing funds allocated to the Public Sector Development Programme
Says project is key part of its multifaceted response to Pakistan’s flood crisis and forms part of the bank's commitment to provide $1.5bn in total assistance from 2023 to 2025
Finance Minister informs ratings agency officials that Pakistan aims to increase revenues by 1.5% of GDP in FY 2025 and by 3% over the next three years
Credit rating agency, however, warns govt’s ability to sustain reform implementation will be key to continually unlock financing over three-year duration
Islamabad will be required to complete a number of conditions as it moves ahead with $7-billion EFF; reforms will include bringing retail, export, and agriculture sectors properly into taxation system
Lender says additional financing will build on on-going efforts to equip Pakistan’s social protection system with policy and delivery system foundations necessary for more effective and rapid responses to future crises
Says government spends more than half its revenue on interest payments, indicating very weak debt affordability which drives high debt sustainability risks
The countries will promote investment by Chinese firms in Pakistan's mining industry, and strengthen the planning of mining industry parks, including deep processing of ores
Announcement comes following talks between UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Pakistan Prime Minister Shehbaz Sharif in Abu Dhabi
Interest expressed by Chairman of MCC Tongsin Resources Wang Jicheng during a meeting with Prime Minister Shehbaz Sharif, according to information ministry
Everything will be done through competitive bidding and we will participate and if we win, the stakes will be offset against PSO’s receivables, says CEO Syed Muhammad Taha
Trade delegation will comprise officials from 30 companies representing a range of sectors, including technology, energy, aviation, mining, and human resources
Jameel Ahmad says qualitative improvements in external account allowed the State Bank to more than double its foreign exchange reserves since January 2023
State Dept spokesman says support for Pakistan's economic success is unwavering, and we will continue to engage with Pakistan through technical agreements
Poverty reduction projected to stall in medium term due to weak growth, low real labour incomes, and persistently high inflation, says lender in 'Pakistan Development Update'
An adviser for the deal tells Pakistan’s ministry of defence production and aviation that 'seven international investors including Germany, France, Netherlands, Qatar, UAE, Malaysia and Turkiye have shown interest' besides local groups
Amount of $78mn approved for Digital Economy Enhancement Project (DEEP), while $71.7mn sanctioned as second additional financing for Sindh Barrages Improvement Project
Remarks come during finance minister's first visit to FBR, statement says govt looking at wholesale/retail, real estate, and agriculture sectors to broaden its tax base
Pakistan has met all Structural Benchmarks, Qualitative Performance Criteria and Indicative Targets for successful completion of the IMF review, says ministry
In press briefing, Julie Kozak, Director of Communications, says focus is on completion of current Stand-By Arrangement, IMF 'stands ready' to send mission
Banks' profitability, stable funding and liquidity provide adequate buffer to withstand the country's macroeconomic challenges and political turmoil, says report
Addresses signing ceremony of joint venture agreement between Pakistan Mineral Development Corporation and US-based Miracle Saltworks Collective Inc. for state-of-the-art crushing and packaging plant in the country
Pakistan’s vulnerable external position means securing financing from multilateral and bilateral partners will be 'one of the most urgent issues on the agenda for the next government'
Mission Chief Nathan Porter says circular debt ‘reduction plan’ entails fiscal risks given chain of transactions involved and would also continue use of supplementary grants
Two sources close to the process say 51% stake with full management control would be offered to buyers after parking airline’s debts in a separate entity, under the 1,100 page report from Ernst & Young
Twelve respondents, not named in the survey, were asked to rate four politicians from 1 to 5 on question of who is best to manage Pakistan's economy with 5 being the most positive
Says all but one of 7 QPCs for end-September were met, and
while ceiling on general government primary budget deficit was missed, deviation was minor and accounted for by technical factors
Notes there are risks pertaining to policy implementation as parties across the political spectrum have extensive record of failing to implement or reversing reforms agreed with the IMF
Says that while Pakistan’s financial inclusion has been improving, women are increasingly left behind with a large gender finance gap which currently stands at 34%
Topline Securities says chemical sector is likely to be significantly impacted as gas prices constitute a major part of total cost and impact is unlikely to be passed on to final consumers
Expects poverty reduction to be gradual in the medium term, owing to weak growth and lower labor income, persistent inflation (especially for food and energy), and lower remittances
Remarks come after IMF Managing Director Kristalina Georgieva meets Pakistan's Caretaker Prime Minister Anwaar-ul-Haq Kakar on sidelines of ongoing UNGA session in New York
These include HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited and Telenor Microfinance Bank Limited
Using projections, researchers analyse future heat and flooding levels to estimate what would happen under a "climate adaptive" scenario and a "high heat and flooding" scenario
In 'Monthly Economic Update & Outlook' for July, it says recent decrease in administered prices of petrol and diesel will be transmitted into lower domestic prices of essential items
PPDA had earlier called for a strike starting Saturday, arguing that the government needed to revise the margins available to dealers per litre sale of fuel
Nine-month Stand-By Arrangement provides time to implement policies critical to strengthening Pakistan's economic situation, says IMF’s Director of Strategic Communications Julie Kozack
Long-Term Foreign-Currency Issuer Default Rating (IDR) improved due to 'Pakistan's improved external liquidity and funding conditions following staff-level agreement'
IMF Mission Chief Nathan Porter says Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform programme, will continue discussions
Finance minister says 'we have ensured impact of these taxes will not be passed to downtrodden' in address to wind up Federal Budget 2023-24 debate in National Assembly