Tag Archives: Pakistan economy

Pakistan Economy: A Roadmap to Sustainable Growth and Fiscal Stability

Pakistan

Pakistan’s economy stands at a critical juncture, with the government and stakeholders working tirelessly to steer the nation toward sustainable growth and fiscal stability. As we look ahead to FY25, several key initiatives and reforms are set to shape the economic landscape. From fiscal consolidation to structural reforms and IMF support, here’s a comprehensive overview of Pakistan’s economic roadmap. The …

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Roshan Digital Account Achieves $9.34 Billion Inflows

RDA

Strengthening Economic Ties with Overseas Pakistanis The Roshan Digital Account (RDA) continues to be a game-changer for Pakistan’s economy, attracting $9.34 billion in total inflows by December 2024. Launched in September 2020, the initiative has provided non-resident Pakistanis (NRPs) with a seamless platform to invest and contribute to their homeland’s financial system. Out of the total inflows, 63.3% ($5.91 billion) …

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Pakistan and IMF Prepare for Resilience and Sustainability Facility (RSF)

Introduction Pakistan and the International Monetary Fund (IMF) are making strides in preparatory work for the Resilience and Sustainability Facility (RSF). The RSF aims to address critical economic challenges while fostering long-term sustainability and resilience. This collaborative effort reflects Pakistan’s ongoing commitment to economic reforms and its relationship with the IMF. What Is the Resilience and Sustainability Facility (RSF)? Overview …

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PSX Maintains Bullish Trend as KSE-100 Crosses 94,000 Points

PSX

The Pakistan Stock Exchange (PSX) continued its robust rally on Thursday, with the KSE-100 index surpassing the 94,000-point mark during intraday trading. This surge reflects growing investor confidence, driven by economic stability and positive market sentiment towards blue-chip stocks. The day began with a strong 547-point surge, pushing the index to 93,903 points. As the trading session continued, the market …

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SBP Cuts Policy Rate by 250bps and Updates Economic Outlook for FY25

The State Bank of Pakistan (SBP) announced a 250bps policy rate cut in today’s Monetary Policy Committee meeting, aiming to support economic activity while managing inflation and debt obligations. Here are the key highlights: External Debt Management For FY25, Pakistan faces external debt obligations totaling USD 26.1 billion, with USD 22 billion as principal and USD 4 billion in interest. …

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Pakistan Misses IMF Cash Surplus Target by Rs182 Billion

IMF

Pakistan Misses IMF Cash Surplus Target by Rs182 Billion Due to Punjab’s Performance Pakistan has failed to meet a major condition of the International Monetary Fund (IMF) to generate Rs342 billion in cash surplus from the four provincial governments. This shortfall, driven by Punjab’s underperformance, reached Rs182 billion, falling 53% short of the target in the first quarter of the …

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Urgent Action Needed on Wheat Support Price to Avoid $1 Billion Import Bill

Wheat

Ministry Urges Swift Action on Wheat Support Price The Ministry of National Food Security and Research has called on Prime Minister Shehbaz Sharif to quickly announce a new wheat support price and set procurement targets. The ministry warns that failing to act could lead to wheat imports worth over $1 billion. This urgency comes from conditions set by the International …

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Government Ends Energy Subsidies to Tackle Circular Debt Crisis

Energy

Government Withdraws Energy Subsidies In a bold move, the government has announced the withdrawal of all subsidies on electricity and gas. This applies to federal and provincial subsidies and is a part of efforts to address the ongoing circular debt crisis in Pakistan’s energy sector. The International Monetary Fund (IMF) has been informed about the new measures aimed at stabilizing …

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Pakistan’s Forex Reserves Cross $11 Billion Amid Positive Economic Indicators

SBP

Pakistan’s Forex Reserves Reach $11 Billion After 30-Month Gap Pakistan’s foreign exchange reserves, held by the State Bank of Pakistan (SBP), rose to over $11 billion as of October 11, 2024. This marks an increase of $215 million in a week and a significant milestone after 30 months. The reserves have grown for 12 consecutive weeks, reflecting an overall increase …

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Habib Bank Limited Reports PKR 14.5bn Profit for 3QCY24

HBL

HBL Reports PKR 14.5bn Profit for 3QCY24 with Strong Non-Funded Income Growth Habib Bank Limited (HBL) reported earnings of PKR 14.5 billion (EPS: PKR 9.85) for the third quarter of 2024 (3QCY24), reflecting a year-on-year (YoY) decline of 13% but a quarter-on-quarter (QoQ) increase of 1%. For the first nine months of 2024 (9MCY24), the bank’s total earnings reached PKR …

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