The International Monetary Fund (IMF) on Wednesday forecast Pakistan’s fiscal deficit — the gap between the country’s total resources and expenditures — for the current financial year at 7.6 per cent of GDP, almost 1.1pc higher than 6.5pc target set by the federal government. Even after taking into account Rs600bn cash surplus targeted by the Centre to come from provincial governments, the IMF
Petrol and high-speed diesel (HSD) prices are projected to fall below Rs300 per litre in the coming review, thanks to a significant drop in global oil rates and the rupee’s appreciation. The anticipated per-litre decrease of up to Rs20 in HSD and Rs38 in petrol would be the most substantial single drop in fuel prices. However, the caretaker government can decide otherwise, particularly in th
As the third Belt and Road Initiative forum is set to begin on Oct 17 in Beijing, Pakistani and Chinese authorities are scheduled to sign an addendum to the CPEC’s framework agreement, replacing the mega $9.85 billion ML-1 project cost with a newly rationalised and agreed project cost of $6.678bn. Since Prime Minister Anwaarul Haq Kakar and his delegation are set to attend the forum, the ration
Pak Suzuki Motor Company Ltd (PSMC) may decide to delist from the Pakistan Stock Exchange (PSX) as its majority shareholder has expressed its intention to scoop up the entire shareholding currently resting with minority shareholders. The Japanese automaker told investors on Thursday it’ll “review and consider” the proposal by the majority shareholder to acquire all outstanding shares to become
The rupee kept appreciating against the US dollar while the foreign exchange reserves held by the State Bank of Pakistan (SBP) witnessed a marginal rise of $31 million, reported the central bank on Thursday. The dollar lost another 93 paise to close at Rs278.58 in the interbank market which did not react to the disappointing figure of remittances. Several analysts were of the view that the 20pc