Economy
Pakistan Requests China to Reschedule $3.4 Billion Debt Amid IMF Program
ISLAMABAD, November 09 2024: Pakistan has formally requested China to reschedule an additional $3.4 billion worth of official and guaranteed debt for two years. This debt, which is due for repayment during the International Monetary Fund (IMF) program period, is pivotal to Pakistan’s ongoing financial stabilization efforts. Government sources, speaking to The Express Tribune, emphasized…
Pakistan Macro Outlook
KARACHI, November 05 2024: The recent 250 basis point (bps) policy rate cut by Pakistan’s central bank, bringing the rate to 15%, marks a significant shift in the country’s economic strategy. This move, which goes beyond the market’s anticipated 120-150 bps reduction, aims to ease the government’s borrowing costs and is expected to have far-reaching…
FBR Hikes Sales Tax on Tea to 18% Amid Revenue Boost Efforts
ISLAMABAD: The Federal Board of Revenue (FBR) has announced a 1% increase in the sales tax on tea, raising it from 17% to 18% on both locally produced and imported tea. This decision, made during a recent Economic Coordination Committee (ECC) meeting, aligns with the government’s ongoing efforts to address fiscal challenges and expand revenue…
MPC Takes Bold Step with Rate Cut to Boost Growth
KARACHI, November 04 2024: In the meeting, the Monetary Policy Committee (MPC) decided to reduce the policy rate by 250 basis points to 15 per cent, effective from November 5, 2024. The Committee observed a faster-than-expected decline in inflation, reaching close to the medium-term target in October. The tight monetary policy stance has been pivotal…
Bilwani urges SBP to cut policy rate by 300 to 500 basis points
KARACHI, November 1 2024: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has urged the Central Bank to reduce the policy rate by 300 to 500 basis points in the next Monetary Policy Committee (MPC) meeting, in response to a notable decrease in inflation to 6.9 per cent in September 2024. In…