Fitch Ratings downgrades Pakistan to ‘CCC-‘
Downgrade reflects sharp deterioration in external liquidity, funding conditions, decline of foreign exchange reserves. Fitch Ratings downgrades Pakistan to ‘CCC-‘….
Economy
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Rs170bn in taxes to be imposed through mini-budget prior to IMF deal: Ishaq Dar
Dar says some reforms suggested by IMF are in Pakistan’s favour. Rs170bn in taxes to be imposed through mini-budget prior…
FBR’s tax collection target in January ‘exceeded by Rs4bn’
FBR shows growth of 23% compared to same month last year. FBR’s tax collection target in January ‘exceeded by Rs4bn’….
Pakistan fails to improve on Corruption Perceptions Index
Pakistan further declines with score of 27, worst in a decade. Amid an economic crisis, Pakistan failed to improve in…
Miftah Ismail says dollar cap caused $3bn loss
Would have been better if 9th review was passed in Oct, says Miftah. Miftah Ismail says dollar cap caused $3bn…
Rupee takes a hammering, falls to historic low of 255 against dollar in interbank
Dollar down over Rs24.11 in interbank and more than Rs12 in open market. Rupee takes a hammering, falls to historic…
Govt raises Naya Pakistan Certificate’s markup rates for foreign investments
Rate of return is now 7% for 3-month investments of $1,000. Govt raises Naya Pakistan Certificate’s markup rates for foreign…
FDI shrinks by 59% to $461m in first six months of FY 2023
Investment in power sector falls to $237 million from $345 million. FDI shrinks by 59% to $461m in first six…
Illegal channels: Pakistan’s remittances fall 19% to $2bn in Dec
Remittances decline 11% to $14.052 billion in first half of FY23. Illegal channels: Pakistan’s remittances fall 19% to $2bn in…
World Bank slashes Pakistan’s GDP growth projection by half
World Bank cuts Pakistan GDP growth projection to 2%. World Bank slashes Pakistan’s GDP growth projection by half. The World…