Business

The final IMF programme for Pakistan will be its 25th. FM Aurangzeb

Published

3 months ago

Farwa

During a news conference in Islamabad, Aurangzeb stated that the IMF package was for the entire nation, not just the federal government. In order to maintain economic stability, he emphasised the significance of making difficult decisions.

Since joining the International Monetary Fund (IMF) in 1950, Pakistan has benefited from 25 different IMF programs. Approved in September 2024, the 37-month Extended Fund Facility (EFF) is the most recent scheme.

“A new strategy is required. At a press conference held here, the minister stated, “If we are to say that this is going to be the last program of the IMF, which we have just embarked on, we have to change the DNA of the economy fundamentally.” The Federal Board of Revenue Chairman, Rashid Mahmood Langrial, was with him.

According to Aurangzeb, the International Monetary Fund (IMF) was approached for the Extended Fund Facility (EFF) for two key reasons: to permanently establish macroeconomic stability and to carry out important changes in line with domestic economic goals.

He cautioned that if these actions weren’t taken right away, the paid class would be more burdened. In order to achieve sustainable development, the finance minister also emphasised the necessity of curbing population growth.

While acknowledging the inevitable rise in tax income, Aurangzeb stressed the need for tax collection agencies to uphold human rights. In order to combat smuggling, he announced the creation of digital checkpoints and highlighted the government’s intention to deploy technology widely.

Aurangzeb also talked about initiatives he was working on with provincial administrations to bring down prices. He asked that in order to prevent inflation, the four provinces concentrate on pricing control committees. He pointed out that lower petrol prices ought to translate into lower transportation costs.

Furthermore, the finance minister disclosed that open talks about financing for climate change had taken place with the World Bank and IMF. He declared that the World Bank would support climate-related activities financially and technically.

Senator Muhammad Aurangzeb, the federal minister of finance and revenue, reaffirmed the government’s commitment to implementing domestic structural reforms and stressed the crucial need to make fundamental changes to the nation’s economic structure in order to create an export-driven model and promote sustainable growth.
In order to build a house, he stated, macroeconomic stability lays the groundwork. “If we have to go for inclusive and sustainable growth, it has to be on the background of the macroeconomic stability,” he said.

According to the minister, although macroeconomic stability persisted in the first quarter of the current fiscal year, it required persistence to result in sustained growth. “Stabilisation of the macroeconomic

Business

With its second-largest surge ever, PSX approaches 114,000 points.

Published

21 hours ago

Farwa

Driven by renewed activity from both private and government financial institutions, the Pakistan Stock Exchange (PSX) saw its second-largest rally in history on Monday.

The market regained many important levels in a single trading session as it rose with previously unheard-of momentum.

Intraday trading saw a top increase of 4,676 points, and the PSX’s benchmark KSE-100 Index gained 4,411 points to settle at 113,924 points. This impressive rebound demonstrated significant investor confidence by reestablishing the 100,000, 111,000, 112,000, and 113,000-point levels.

The market also saw the 114,000-point limit reestablished during the trading session.

The positive tendency was reflected when the market’s heavyweight shares touched its upper circuits. Among the most busiest trading sessions in recent memory, an astounding 85.78 billion shares worth a total of Rs55 billion were exchanged.

Experts credited the spike to heightened institutional investor activity and hope for macroeconomic recovery. Considered a major market recovery, the rally demonstrated the market’s tenacity and development potential.

Business

In interbank trade, the Pakistani rupee beats the US dollar.

Published

1 week ago

Farwa

In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

Published

1 week ago

Farwa

The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.