The financial market is abuzz with speculation as the State Bank prepares to announce its monetary policy by the end of this month, with researchers, analysts and bankers widely anticipating a rate cut, though opinions vary on the extent of the reduction. Given June’s inflation rate of 12.6 per cent, significantly lower than the prevailing interest rate of 20.5pc, the market expects a substanti
Finance Minister Muhammad Aurangzeb briefed officials of a global rating agency on Monday about Pakistan’s economy and the successful agreement with the International Monetary Fund (IMF) to stabilise macroeconomic indicators. A virtual meeting via Zoom was held five days after the Business Monitor International (BMI), a subsidiary of Fitch credit ratings firm, released its detailed analysis of
The government has hired an American consultancy firm, Kearney, to help attract foreign investment in the country. It was informed to Prime Minister Shehbaz Sharif during a meeting he chaired at the PM House to review how to increase investment and capacity of federal government ministries. According to Kearney’s website, it is a leading global management consulting firm with over 5,700 peop
Prime Minister Shehbaz Sharif on Tuesday warned the Federal Board of Revenue (FBR) against any delays in refunding exporters, aiming to alleviate concerns about meeting the $60 billion export target. While speaking at the National Export Development Board (NEDB), the prime minister directed the commerce ministry and other departments to take “all necessary measures” to achieve the ambitious exp
Pakistan is like a canary in the coal mine in a world where almost 60 countries are drowning in debt while facing significant development spending needs and monumental risks from climate change, writes Murtaza Syed, a former acting governor of the State Bank of Pakistan, in The Financial Times. It is precisely in cases like this that debt relief — and truth-telling — are needed the most, he wro