Growth is up, inflation is down, and the economy is on a sound path,” stated International Monetary Fund (IMF) Managing Director Kristalina Georgieva while announcing the approval of Pakistan’s 25th loan, worth $7 billion, for the next three years. Nevertheless, the IMF cautioned that Pakistan still faces challenges, including a difficult business environment, an outsized state role, and a narr
CHINA’S Ministry of Finance is poised to introduce a comprehensive package of targeted new policy measures soon, focused on stabilising growth, expanding domestic demand and mitigating risks. The measures will focus on improving the financial situations of local governments, facilitating the stabilisation of a bottomed out property market, and enhancing the risk resilience and credit allocation
The Federal Board of Revenue (FBR) has warned that Monday is the last day for submission of income tax returns for the financial year 2023-24. In a statement issued on Sunday, the FBR said that it had already extended the deadline for filling of returns till 14th of this month. The decision to extend the date for submission of income tax returns was taken following requests by various trade
Over the last few years, Pakistan’s banking has reaped massive profits on the back of the sovereign’s ever-growing fiscal needs. In the process, it has drawn the ire of everyone, including the International Monetary Fund in the latest Article IV report, for depending on the government. However, one area where the sector seems to have done well, at least in relative terms, is in digitalisation a
The stock market ended its six-session winning streak on Thursday as investors engaged in profit-taking towards the end of the session following the government’s termination of power purchase contracts with some Independent Power Producers (IPPs). Ahsan Mehanti Arif Habib Corporation said stocks closed under pressure amid concerns for pre-mature termination of contracts with IPPs on tariff issu