Business News | PSX | News Updates from Pakistan Economy

EU removes Pakistan from ‘High Risk Third Countries list’

After exiting the grey list of Financial Action Task Force (FATF), Pakistan has achieved another major milestone as European Union (EU) has removed Pakistan from the list of High Risk Third Countries.

March 29, 2023
Published in Business

Pakistan needs to overcome trust deficit: IMF

The International Monetary Fund (IMF) has acknowledged that Pakistan’s economy faced multiple challenges, including high inflation and interest rates as well as low foreign exchange reserves.

March 26, 2023
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India's Congress leader Rahul Gandhi disqualified from parliament

India's parliament on Friday disqualified the leader of the main opposition Congress party, Rahul Gandhi, a day after a court jailed him for two years in a defamation case loosely linked to the prime minister,…

March 24, 2023
Published in Business

Pakistan-Russia final crude oil import talks start today in Karachi

A Russian technical delegation will hold talks today (Tuesday) with Pakistan State Oil (PSO) officials in Karachi, to give final touches to a crude oil import deal at a government-to-government level (GtG).

March 21, 2023
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Pakistan did not consult ahead of announcing fuel subsidy proposal: IMF

Pakistani authorities did not consult with the International Monetary Fund (IMF) staff ahead of announcing their recent fuel subsidy proposal, the lender's resident representative said.

March 21, 2023
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Govt to charge the rich Rs100 more for fuel to finance subsidy for the poor: Musadik Malik

Minister of State for Petroleum Musadik Masood Malik said on Monday that the government will charge Rs100 more for petrol from the affluent so that relief could be provided to the low-income segments in fuel…

March 20, 2023
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Govt jacks up petrol price by Rs5

The government raised the price of petrol to Rs272 per litre, adding pressure on the inflation-weary people.

March 16, 2023
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Staff-level agreement with IMF expected in ‘next few days’: Ishaq Dar

Finance Minister Ishaq Dar has given yet another date for inking the deal with the International Monetary Fund. This time, according to his hopes, the agreement would be signed in the “next few days”.

March 9, 2023
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Chinese Bank approves rollover of $1.3bln loan for Pakistan: Dar

Finance Minister Ishaq Dar says that the Chinese Bank ICBC has approved rollover of 1.3 billion US dollar loan after completing the necessary formalities.

March 4, 2023
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Rupee claws back on Dar's assurance of IMF deal

The Pakistan rupee gained its ground against the US dollar after the market gained hope on Finance Minister Ishaq Dar's assurances of striking a deal with the International Monetary Fund (IMF) next week.

March 3, 2023
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Negotiations with IMF ‘about to conclude’, staff-level pact likely next week: Dar

Finance Minister Ishaq Dar said on Thursday that Pakistan’s negotiations with the International Monetary Fund (IMF) related to the completion of the ninth review of a $7 billion loan programme were near conclusion and the…

March 2, 2023
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SBP hikes policy rate by 300bps, highest since October 1996

The State Bank of Pakistan (SBP) announced on Thursday that it had increased the interest rate by 300 basis points (bps) to 20 per cent — the highest level since October 1996 — citing rising…

March 2, 2023
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PKR tumbles by nearly Rs19 against US dollar in interbank over IMF delays

The Pakistani rupee’s value declined sharply in the interbank trading on Thursday with the local currency falling by Rs18.89 against the US dollar.

March 2, 2023
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Moody’s downgrades Pakistan’s credit rating to ‘Caa3’

Moody's Investors Service has downgraded the government of Pakistan's local and foreign currency credit ratings to Caa3 from Caa1 in the wake of the drop in the country's foreign exchange reserves and rise in risk…

February 28, 2023
Published in Business