ACCORDING to the Economic Affairs Division (EAD), as of June 30, 2022, the total external public debt of Pakistan stood at $88.8 billion. Out of this, the debt owed to multilateral financial institutions (MFIs) and the IMF was $42.1bn, which came to 48 per cent of Pakistan’s external public debt. In comparison, expatriate Pakistanis send home remittances of around $31bn annually. The official q
Pakistan could default without an International Monetary Fund (IMF) bailout as its financing options beyond June are uncertain, the credit ratings agency Moody’s Investor Service said on Tuesday. “We consider that Pakistan will meet its external payments for the remainder of this fiscal year ending in June,” Grace Lim, a sovereign analyst with the ratings company in Singapore, told Bloomberg, a
Trading in the privately placed Rs6.7 billion Islamic bond of K-Electric Ltd will commence on the Pakistan Stock Exchange on Friday (May 12). Also known as sukuk, the certificate will be traded through the Bond Automated Trading System (BATS) on the PSX and will be settled through the National Clearing Settlement System. The purpose of the issue is to fund the company’s routine operational a
The Federal Board of Revenue (FBR) has notified draft rules to facilitate the import of duty-free equipment for technological zones for 10 years. The new rules were notified through a notification SRO536, which will become final in case no objection is received from any quarter in 15 days. The rules cover the registration of zones, equipment import and retention period. Under the rules, the
Remittances being sent by overseas Pakistanis fell by 29.2 per cent in April compared to April 2022 while it declined by 13pc during the first 10 months of the current fiscal year. The State Bank of Pakistan reported on Wednesday that Pakistan received $2.21 billion in April against $3.124bn in the same month last year showing a decline of 29.2pc while dipped by 12.8pc when compared with $2.536