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IMF mission has arrived in Pakistan for negotiations regarding a loan.

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2 weeks ago

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Sources from the Ministry of Finance indicate that the IMF team will assess Pakistan’s economic performance and engage in discussions with pertinent ministries.

Sources indicated that the government has already informed the delegation of its economic objectives and accomplishments during the first quarter of the fiscal year. Principal topics of debate encompass revenue collection, with Pakistan achieving 96.6% of its tax target from July to September.

The IMF mission is anticipated to confer with Minister of State for Finance Muhammad Aurangzeb, the Chairman of the FBR, and officials from the State Bank to deliberate on the nation’s economic condition and prospective strategies.

Sources previously said that during the visit, IMF and Pakistani officials will deliberate on new concessional loans to facilitate climate change activities, as well as debate province budgets and their allocation for climate change measures.

Sources indicated that the group will evaluate the current IMF loan program and deliver a first briefing, with discussions perhaps focusing on Pakistan’s tax revenue and anticipated shortages from July to September.

Pakistan has received the initial installment of the IMF loan.

The government of Pakistan requested an additional $2 billion from the IMF to mitigate the effects of climate change.

This event followed the IMF’s delay in approving Pakistan’s original request for climate finance, according to sources.

Sources indicated that Pakistan implemented measures to enhance fiscal sustainability and generate revenue, including the approval of the FY24 budget, which targets a primary surplus of around 0.4 percent of GDP. The government has pledged to maintain a market-driven currency rate and to mitigate inflation.

On September 27, Pakistan solicited an additional $1.5 billion loan from the IMF to address the effects of climate change within the nation.

The financing would bolster Pakistan’s Climate Resilience and Sustainability Facility, which seeks to enhance economic stability and sustainable development in the nation.

The International Monetary Fund (IMF) Executive Board approved Pakistan’s 37-month Extended Fund Facility (EFF) arrangement of approximately US$7 billion on September 25.

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SIFC Promotes International Honey Trade: Malaysia Becomes an Export Destination for KP 60,000 Honey Farms

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The successful arrival of Khyber Pakhtunkhwa’s first batch of SIDR honey in Malaysia is a major turning point for Pakistan’s honey sector.

The special investment facilitation council is helping to raise the profile of Pakistan’s agricultural exports internationally.

The Ministry of Commerce is dedicated to increasing Pakistan’s honey exports internationally, and the Pakistani high commission in Kuala Lumpur has been instrumental in fostering collaborations between Malaysian and Pakistani companies.

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The KSE-100 is getting closer to the 100,000 level thanks to bullish momentum.

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23 hours ago

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At 98,164.24 points, the benchmark KSE-100 Index is just 1,800 points away from the much-anticipated 100,000 level and is approaching a historic milestone.

Favorable macroeconomic indicators and high investor confidence have propelled the index’s bullish momentum as of 9:47 a.m. today.

The KSE-100 had a significant increase of 469.84 points, or 0.48%, on Friday, closing at 97,798.23 points. Market optimism was indicated by the index’s quick spike to an intraday high of 99,623.03 points.

Analysts have increased their estimates, predicting that by the end of 2025, the KSE-100 might rise to 120,000. Continued improvements in macroeconomic conditions, such as declining bond yields, are anticipated to be the main drivers of this spike since they are bringing more liquidity to the equities market.

Following the drop in bond yields, mutual funds have made about $132 million in investments in Pakistani stocks since January 2024. This influx of funds is considered a favorable indicator of investor sentiment.

The market has also risen as a result of the State Bank of Pakistan’s decision to reduce interest rates by a total of 700 basis points, from 22% in May 2024 to 15% now.

The All-Share Index, which measures the overall market, also showed robust gains. With a net increase of 280.51 points, or 0.44%, it was at 62,376.87 points. Expectations of additional growth in the equity market are being bolstered by this encouraging trend.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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5 days ago

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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