ISLAMABAD – In a historic financial turnaround, Pakistan’s fiscal surplus reached Rs1.7 trillion in the first quarter (July-September) for the current fiscal year 2024-25. This notable shift, after over two decades of continuous budget deficits, was driven by unprecedented profits from the State Bank of Pakistan (SBP) and record-breaking non-tax revenue. This fiscal surplus marks…
ISLAMABAD –The Ministry of Finance has released the monthly Economic Outlook Q1FY25 Report, which indicates an increase in remittances, exports, imports, and foreign investment Key Highlights of the Economic Outlook Report Inside Pakistan’s Economic Outlook Q1FY25 Report According to the report, remittances increased by 38.8% in the first three months of the current fiscal year,…
Karachi –A major policy rate reversal is likely with a 2% rate cut expected by SBP, as the State Bank of Pakistan prepares for its upcoming Monetary Policy Committee meeting on November 4, 2024. Analysts and market watchers expect the apex bank to reduce interest rates by at least 200 bps based on continuously easing…
Manila, Philippines – 29 October 2024 – In a major step ADB approves $500 million loan for Pakistan to enhance climate resilience and disaster preparedness, to support Pakistan’s efforts in reducing climate risks and strengthening disaster management. The Climate and Disaster Resilience Enhancement Program (CDREP) aims to fortify Pakistan’s ability to withstand and respond to…
ISLAMABAD: The profits repatriation on foreign investments in Pakistan surged 85% during the first quarter of the current fiscal year, according to recent data from the State Bank of Pakistan. Foreign investors repatriated profits and dividends $393.4 million between July and September this year, compared to $213 million for the same period a year ago….
The Pakistan Stock Exchange (PSX) was proudly recognized as the world’s best-performing stock market in 2024. Its sensational rise beyond 90,000 points on the KSE-100 index was propelled by the dynamics of the underlying economy and structural changes in Pakistan’s economy rather than mere government narrative or opposition critique. This article elaborates on the main…
As the world shifts toward more sustainable and environmentally friendly alternatives, adopting electric vehicles in Pakistan is crucial in transforming its economy. Removing duties on Electric Vehicles (EVs) could accelerate adoption and set the stage for massive economic growth. Here’s a look at how reducing these duties can impact Pakistan’s economy, from slashing import costs…
Pakistan’s Current Account Surplus mainly due to Stronger Exports and Remittances Growth In a notable growth, Pakistan’s current account surplus was registered at $119 million in September 2024, recovering from a $218 million deficit in September 2023. This improvement marks significant progress for the country’s economy, driven by a mix of factors such as stronger…
India is expected to support Pakistan BRICS Membership at BRICS Summit 2024 The upcoming BRICS Summit Russia in Kazan, may see India reconsider its stance on Pakistan BRICS membership. Historically, India has opposed Pakistan’s inclusion due to longstanding political tensions, but the expansion of BRICS could prompt India to adopt a more strategic, pragmatic approach….
Global Economic Slowdown effecting Big Economies The International Monetary Fund predicts global economic slowdown. The IMF forecasts global growth to ease to 3.2% in 2024, with inflation expected to drop gradually. However, the IMF warns that regional and sectoral shifts, along with persistent inflationary pressures, could create challenges for emerging markets and oil-importing countries. While…
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