Pakistan’s central bank has allowed commercial banks to make up to 100% import payment in advance without acquiring prior approval, liberalising the import regime after the country’s foreign exchange reserves improved recently. The softening of trade instructions rules aims to instil confidence in foreign sellers and domestic buyers, potentially easing the hardships faced by traders on imports
Two days after the central bank elevated its inflation forecast, the federal government on Wednesday significantly upwardly revised its projection, stating that inflation may remain around 28.5% in January due to food supply shocks. In its flagship monthly economic outlook report, the finance ministry anticipates inflation to be around 27.5%-28.5% in January, a 3.5% increase from the previous f
Sustained performance in income tax collection, coupled with a better show in previous months, has enabled the Federal Board of Revenue to achieve its seven-month target of Rs5.12 trillion. However, for the first time in this fiscal year, the monthly target was missed by Rs9 billion or 1.3%. Under an arrangement with the International Monetary Fund (IMF), a shortfall of more than 1% may necessitat
An official document reveals that the federal government is carrying a debt burden of Rs14.5 trillion above the statutory limit set by Parliament, poorly implementing the debt management strategy. The skewed Debt Policy Statement 2024 from the Ministry of Finance discloses that during the fiscal year 2022-23, the federal government violated the Fiscal Responsibility and Debt Limitation Act and fai
OF all the comebacks he has mounted since his first ouster from power more than 30 years ago, the latest one has been the most improbable. The odds that Nawaz Sharif will be forming the next government after the Feb 8 elections are rising, although it cannot be known with any certainty at this stage. Even if he is not the prime minister himself, chances are whoever assumes the position will do