The government of Pakistan today has jacked up the key policy rates by 300bps to 20% for executing the IMF condition for the release of loan tranche (a sum) of just over $1.1 billion. The Monetary Policy Committee of state bank (MPC) expects inflation to rise further in the next few months as the impact …
State bank raised Interest rates by 300bps to 20%, highest since October 1996 Read More »
The International Monetary Fund (IMF) on Tuesday demanded Pakistan to withdraw untargeted subsidies, reduce circular debt, meet petroleum levy and Federal Board of Revenue (FBR) tax collection targets, it is learnt.The IMF programme was going to end in June 2023. So far, around $3.5 billion of the $6.5 billion total package remained undisbursed. Nathan Porter, …
Pakistan to convince IMF over implementation of ‘tax’ measures and reducing subsidies Read More »
Pakistani rupee continued to depreciate steeply in the interbank market on Friday, closing at Rs262.6 per dollar, down Rs7.17 or 2.73 per cent from yesterday’s close, according to the State Bank of Pakistan (SBP). The local currency’s value declined Rs24.54 to a record low of Rs255.43 in the interbank yesterday, the largest single-day depreciation in both absolute …
Pak rupee closing at Rs262.6 per dollar, down Rs7.17 Read More »
