Finance Minister Ishaq Dar on Thursday announced that the federal budget for fiscal 2024 would be presented on June 9 and insisted that Pakistan would not default on any foreign liability, with or without an IMF programme. Speaking to journalists after a seminar organised by the National Security Division, the minister said there should be no concern over the repayment of $3.7 billion foreign
THE government has told the International Monetary Fund (IMF) it would not implement a fuel subsidy programme as the two sides negotiate a long-delayed $1.1 billion bailout for the country, Bloomberg News reported on Thursday. The IMF has also said that it would “continue engagement with the government on the loan despite the ramp-up in political tensions”. The remarks came after the arrest of
The stock market extended its losses on Wednesday after the benchmark of representative shares opened on the lower side. Arif Habib Ltd said stock prices dropped mainly because of the country’s political and economic instability. Investor activity declined significantly, with third-tier companies leading the volume board, it added. Topline Securities noted that the arrest of opposition leade
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