State Bank of Pakistan Governor Jameel Ahmed believes the $3 billion nine-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) will bring economic stability, help address inflation and boost dollar inflows. Talking to the state-run PTV News on Tuesday, Mr Ahmed expressed his satisfaction with the new agreement and found it a catalyst for the increase in the remittances a
Pakistan’s export of services staged a strong rebound of 19.77 per cent in May reversing the four-month diminishing spell, showed data released by the Pakistan Bureau of Statistics on Tuesday. The export of services in value grew to $616.96 million in May from $515.14m in the corresponding month last year. After recording positive growth during the first half of the current fiscal year, the
The power sector’s circular debt jumped to Rs2.65 trillion by the end of May from Rs2.25tr at the beginning of the previous fiscal year — a jump of Rs393 billion, or 18 per cent, in 11 months. It was in stark contrast with figures of FY22, when the debt fell by Rs27bn, from Rs2.28tr at the start of the year to Rs2.25tr by the close, data from the energy ministry’s Power Division showed. Acc
State Bank of Pakistan (SBP) Governor Jameel Ahmad unveiled on Tuesday a commemorative banknote of Rs75 to mark the 75 years of the central bank’s founding. The banknote is predominantly blue, which has been chosen to impart a sense of stability associated with a central bank. A distinctive feature of this new banknote is the inclusion of a stylised sketch of the SBP building by renowned callig
The subscription for Pakistan’s first gender bond, which will help a microfinance provider raise Rs2.5 billion for onward lending, will be complete in the next “four to six weeks”. Speaking to a group of reporters on Tuesday, InfraZamin Pakistan CEO Maheen Rahman said the privately placed bond will subsequently be listed on the Pakistan Stock Exchange within 180 days. InfraZamin, which is a