The International Monetary Fund (IMF) on Thursday confirmed that the Fund’s board will meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) to Pakistan. Pakistan expected to secure a deal with the Fund in August after the lender approved the 37-month programme agreed upon in July. The country also raised its tax revenue target by a record 40 per cent and hiked energy pric
The Shanghai Cooperation Organisation (SCO) trade ministers on Thursday underscored the need to counter protectionist trade measures and called for the strengthening of a non-discriminatory, World Trade Organisation-based multilateral trading system. The 23rd ministerial meeting saw the endorsement of three major initiatives — launched by Pakistan, Kazakhstan and Russia — to foster deeper coope
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million to $9.466 billion during the week ended on Sept 6, announced the central bank on Thursday without disclosing the source of this inflow. The SBP governor said on Thursday that the reserves are projected to reach $12bn by March and $13bn by June next year. The SBP has been buying dollars regularly from
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million to $9.466 billion during the week ended on Sept 6, announced the central bank on Thursday without disclosing the source of this inflow. The SBP governor said on Thursday that the reserves are projected to reach $12bn by March and $13bn by June next year. The SBP has been buying dollars regularly from
The State Bank of Pakistan (SBP) on Thursday announced that the banknote designs that won the art competition have not been shortlisted for the new series. The actual designs of the proposed new series are being designed by reputed international firms selected through a competitive process. The firms will submit their proposals by December, and the finalised designs duly approved by the SBP boa