Recovery is setting in but surging imports, ballooning circular debt, the yawning current account deficit, and the bleeding rupee continue to pose challenges.
Economy
Cabinet Committee on CPEC recommends revisiting Port Concessions Agreement with Chinese operators
Finance Minister said the government’s short and long-term plans will bolster economic growth in Pakistan
MUMBAI: Tea-to-software Indian giant Tata is buying back Air India, 89 years after founding it as Tata Air and half…
The IMF program has been in recess since March this year owing to divergent views of the two sides & efforts are to bring it back on track.
Local currency settles at Rs170.53 against the US dollar in the inter-bank market with a gain of 0.20%.
The foreign exchange reserves held by the central bank drop by 0.65% on a weekly basis.
The rupee appreciates on the back of the measure taken by the central bank to curb the “undesirable” outflow of foreign currency.
World Bank projects Pakistan GDP to grow at 3.4%.
Growth rate can hit 4% mark in FY2023 if government implements key structural reforms.
WB projects region to grow by 7.1% in 2021 and 2022.
IMF demands raise in income tax, sales tax, regulatory duty.
Demand aims to help pull up annual tax collection target from Rs5.8 trillion to Rs6.3 trillion.
FBR Chairperson Dr Mohammad Ashfaque says IMF is satisfied with the collection of the board.