Tag: pakistan economy
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World Bank ranks Pakistan in fourth quintile for challenging business environment
The World Bank has placed Pakistan in the fourth quintile of economies owing to a challenging business environment caused by weak regulatory frameworks and limited public services, which hinder business operational efficiency.
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State Bank cuts policy rate by 200 bps to 17.5%
The State Bank of Pakistan (SBP) has reduced the interest rate by 200 basis points, bringing it down to 17.5 per cent.
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PM Shehbaz hails Moody’s rating upgrade amid cooling inflation
Prime Minister Shehbaz Sharif on Sunday expressed his satisfaction with the recent ease in the inflation rate, noting that the government’s ongoing economic reforms are yielding positive results.
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Pakistan’s inflation expected to drop to as low as 9% by September 2024: Finance Ministry
Pakistan’s headline inflation is expected to ease further in August 2024, settling between 9.5 per cent and 10.5 per cent, with a continued downward trend anticipated in the coming months, according to the Finance Division’s statement on Friday.
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State Bank’s foreign exchange reserves surge by $112 million in a week
Foreign exchange reserves held by the State Bank of Pakistan (SBP) saw a rise of $112 million over the past week, bringing the total to $9.4 billion as of August 23, according to data released on Thursday.
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Moody’s upgrades Pakistan’s credit rating to Caa2, citing improved economic stability
Moody’s Investors Service has upgraded Pakistan’s long-term issuer rating from “Caa3” to “Caa2” with a stable outlook, reflecting a moderate improvement in the country’s macroeconomic conditions and external financial position.
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Pakistan eyes up to $4 billion from Middle Eastern banks by 2026, says SBP governor
Pakistan plans to raise up to $4 billion from Middle Eastern commercial banks by the fiscal year 2026, according to the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad.
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Internet shutdown costs 65 billion rupees to Pakistan’s economy
Pakistan’s economy has suffered a loss of PKR 65 billion in 2023 due to internet shutdowns. Statista’s latest data reveals that 8.3 million Pakistanis were affected by the internet outage, which lasted 259 hours. Statista is a German online organization that specializes in data collection. It ranked Pakistan seventh in terms of losses in the…
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Uncertainty surrounds Pakistan’s $7 billion IMF bailout as approval date still not confirmed
Pakistan’s much-anticipated $7 billion bailout package has not yet been scheduled for review by the IMF executive board.
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Car financing in Pakistan drops 20% in July amid rising prices and interest rates
Car financing in Pakistan witnessed a significant decline in July 2024, as soaring vehicle prices and elevated interest rates continued to dampen consumer demand.