Tag: fiscal policy
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IMF’s fiscal strategy for Pakistan criticised for overlooking debt restructuring
The International Monetary Fund (IMF)’s current fiscal strategy for Pakistan, which focuses on strict fiscal consolidation—entailing reduced spending and increased revenue—has come under significant scrutiny. Critics, including Murtaza Syed, a former deputy governor of the State Bank of Pakistan and ex-IMF official, question the approach due to its lack of emphasis on debt restructuring. In…
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Suzuki Swift GLX CVT now priced above Rs5.4 million
Pak Suzuki Motor Company Limited (PSMC) announced a substantial increase of Rs304,000 in the price of its Swift G. CVT model, effective from March 8, 2024.
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Pakistan may enter fresh IMF loan programme, stricter conditions expected
In the wake of the completion of its current loan programme, Pakistan is poised to sign a new loan agreement with the International Monetary Fund (IMF), reports indicate.
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OGRA approves massive gas tariff hike for SNGPL, SSGC consumers
In a move to address the fiscal challenges faced by Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC), the Oil and Gas Regulatory Authority (OGRA) has granted approval for a noteworthy increase in gas tariffs.`
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IMF forecasts improved inflation, slower economic growth for Pakistan in FY24
The International Monetary Fund (IMF) has adjusted its economic projections for Pakistan, providing a comprehensive review in its latest report. The key highlights include a downward revision of inflation forecasts and a moderated economic growth projection for the fiscal year 2024 (FY24).
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SBP receives second IMF installment, total disbursements reach $1.9 billion
The State Bank of Pakistan (SBP) announced today that it has successfully received the second installment of SDR 528 million, equivalent to $705.6 million, from the International Monetary Fund (IMF).
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IMF and Pakistan seal agreement on $3 billion SBA, await board approval
In a significant development, the International Monetary Fund (IMF) declared on Wednesday that its team and Pakistani authorities have successfully concluded the initial review of the $3 billion, nine-month Stand-By Arrangement (SBA). This staff-level agreement awaits the approval of the IMF Executive Board. Upon endorsement, approximately US$700 million (SDR 528 million) will be accessible, contributing…
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Pakistan’s imports drop sharply, leading to 42% reduction in trade deficit
Pakistan’s trade deficit for the first three months of the fiscal year 2023–24 has notably contracted by 42.25 per cent to reach $5.29 billion. This remarkable reduction is primarily attributed to a significant decrease in imports, a direct consequence of carefully administered measures. Data released by the Pakistan Bureau of Statistics (PBS) reveals that the…
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Govt’s borrowing soars to over Rs1.6 trillion in three months, marking a fivefold increase from last year
In the current fiscal year, FY24, the federal government’s net borrowing to meet its financial obligations for governing the nation amounted to Rs1.6 trillion.
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PDM govt adds Rs18.5 trillion to Pakistan’s debt in just 15 months
In a span of just 15 months, the Pakistan Democratic Movement (PDM) government has significantly added Rs18.5 trillion to the country’s public debt, a striking amount surpassing the debt accumulation of its rival, the Pakistan Tehreek-e-Insaf, during its three-and-a-half-year tenure.