State Bank of Pakistan Secures $1.023 Billion from IMF
The State Bank of Pakistan received the second tranche of US$ 1.023 billion (SDR 760 million) from International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.
Mehfooz
IMF approved $1 billion for Pakistan under EFF Arrangement
The Executive Board of the International Monetary Fund (IMF) has approved $1billion tranche for Pakistan under Extended Fund Facility (EFF) and approved an arrangement under the Resilience and Sustainability Facility (RSF), with access of about $1.4 billion.
Adil Aziz
IMF, Pakistan reach 1st staff level agreement under EFF
Khurram Schehzad, Advisor to the Finance Minister, shared on X that, upon receiving Board approval, Pakistan will gain access to approximately $1 billion under the Extended Fund Facility (EFF). This will raise the total disbursements under the EFF to nearly $2 billion, marking a substantial financial step towards economic stabilization and progress for the country.
Editor
IMF okay to immediately Pakistan to released first tranche of $1 Billion
The International Monetary Fund (IMF) board has approved the 37-month Extended Fund Facility (EFF) programme of $7 billion for Pakistan and has authorized the immediate release of the first tranche of about $1 billion.
It can cost more to power a house than rent it in Pakistan: Bloomberg
The average per-unit electricity price for residential users rose 18 per cent in July, when the country secured a new US$7 billion loan from the IMF. Many residents have since seen electricity bills – typically a fraction of household expenses – surpass rents that range from US$100 to US$700 a month, said Samiullah Tariq, head of research at Pakistan Kuwait Investment.
Finance Minister meets PepsiCo’s CEO for Africa
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with PepsiCo’s Chief Executive Officer (CEO) for Africa, Middle East (ME) and South Asia (SA) Eugene Willemsen to discuss Pakistan’s economic progress and potential collaboration opportunities.
IMF wants to bring under the tax net of agriculture income
The sources further said that the tax on agriculture income will be slapped from yearly income of Rs.600,000.
Real GDP grew by 1.7% in H1-F-24, macroeconomic conditions improved: SBP
The State Bank of Pakistan (SBP) report said that Pakistan’s macroeconomic conditions improved and real GDP grew by 1.7% while inflationary pressures remained at elevated levels during the first half of fiscal year 2023-24.
Pakistan initiates discussing new multi-billion loan programme with IMF
Pakistan has initiated discussions with the International Monetary Fund (IMF) over a new multi-billion dollar loan agreement to support its economic reform program, Federal Minister for Finance and Revenue, Muhammad Aurangzeb said.
MAJU hosts a seminar on IMF Program
Mohammad Ali Jinnah University (MAJU) recently hosted a seminar on Pakistan’s economic situation and the latest agreement with the International Monetary Fund (IMF) at the campus.
Speaking at a seminar, Director at the Center for Excellence in Islamic Finance (CEIF)-IBA Ahmed Siddiqui underscored the crucial role of the IMF in stabilizing the country’s current account and the option of utilizing the international lender’s Islamic financing program.