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Articles for tag: ADB, economic recovery, financial reforms, fiscal policy, FY2025, GDP, growth forecast, Inflation, International Monetary Fund, investment in the private sector, Labor force, macroeconomic stability, Pakistan, remittances, rise

April 9, 2025

News Desk

Pakistan GDP to rise by 2.5% in 2025, adb says

Listen to the article Pakistan’s economy presents positive signs of stability and recovery, with an expected 2.5% increase in real GDP for the financial year 2025 (ending June 30, 2026). This development reflects the impact of strict macroeconomic policies and progress on basic economic reforms. According to the Asian development perspective (ADO) in April 2025, the Asian Development Bank (ADB) flagship (ADB), Pakistan’s growth rate for FY2025 is expected to remain the same as the previous year (FY2024), which also increased 2.5%. ADB reports that Pakistan’s growth is expected to be up to 3.0% FY2026. Growth prospects are assisted by

February 13, 2025

The Pakistan Daily

PTI submits dossier to IMF over election issues, human rights

The Pakistan Tehreek-e-Insaf (PTI) has submitted a dossier to the International Monetary Fund (IMF) mission currently visiting Pakistan, raising concerns over governance issues, human rights violations, and alleged electoral rigging in the 2024 general elections. According to details, the dossier, along with a letter, has been handed over to Mahir Binci, the IMF’s representative in Pakistan, at the fund’s Islamabad office. The submission includes a report from the NGO Pattan about the electoral process and alleged discrepancies in the results. Issues highlighted in PTI’s dossier The dossier also recalls a meeting between PTI Founder Imran Khan and the IMF delegation

February 7, 2025

News Desk

Fitch evaluations optimistic about Pakistan’s economic recovery FY25

Listen to the article Fitch’s ratings have shown that Pakistan’s ability to continue moving on with structural reforms will be a decisive factor in shaping his credit perspectives in the coming years. As the country aims to restore economic stability and strengthen external economic reserves, the success of these reforms will be vital to maintaining access to polymers and bilateral funding, in particular by the International Monetary Fund (IMF). Pakistan’s recent economic steps were supported by a series of policy decisions, including a reduction in Pakistan’s state bank to politics at 12% on January 27, 2025.% annually in January 2025,

January 21, 2025

News Desk

FBR shares plan with IMF to address revenue shortfall

Listen to the article The Federal Board of Revenue (FBR) has shared its plan with the International Monetary Fund (IMF) to address a major revenue shortfall as the country prepares for an upcoming IMF delegation visit. According to Express News, FBR’s strategy includes expediting container clearances at ports, auctioning contraband goods and improving enforcement capacity. Tax collection from under-taxed sectors and expediting court cases are also prioritized to achieve revenue targets. For January, the FBR faces an ambitious tax target of Rs 960 billion. When adjusted for the existing shortfall of Rs 385 billion, the total collection requirement rises to

September 26, 2024

The Pakistan Daily

IMF approves seven billion dollars package for Pakistan

In a major development, the International Monetary Fund (IMF) Executive Board, during a meeting in Washington, has approved a $7 billion loan for Pakistan. This new financial support program is designed to span over 37 months, providing crucial relief to the country amidst its ongoing economic challenges. As per sources, Pakistan is likely to get $1 billion or $1.1 billion as the first instalment of the loan by September 30. After the approval of the loan program, the second installment will also be received in the same financial year, the sources added. Pakistani officials have confirmed that all preconditions for

September 5, 2024

News Desk

The government was forbidden to set crop prices

Islamabad: The International Monetary Fund (IMF) has imposed a major condition on Pakistan’s federal and provincial governments, preventing them from setting agricultural support prices for all commodities, including wheat and sugarcane. The condition is part of nearly a dozen restrictions the global lender has imposed on provincial governments aimed at curbing reckless spending and curbing their power to grant subsidies. The agriculture-related situation will directly affect three cash crops – sugarcane, wheat and cotton. Besides, it will cause an increase in the prices of imported fertilizers due to the restriction on the sale of the commodity at subsidized prices. Sources

September 3, 2024

News Desk

Economic uncertainty weighs on stocks

KARACHI: The Pakistan Stock Exchange (PSX) fell over 200 points on profit-taking in select stocks on Monday amid economic uncertainty and concerns over the outcome of regulatory oversight of stock exchanges. In the morning, the KSE-100 index opened positively, hitting an intraday high of 79,014.68 points. However, early gains proved short-lived as the market quickly reversed course amid political noise and concerns over whether the International Monetary Fund (IMF) would approve a cut in Punjab’s electricity tariffs. These factors, combined with a Rs2.8 trillion funding plan aimed at preventing industry closures at a time of funding constraints, fueled bearish sentiment.

August 28, 2024

News Desk

Moody’s upgrades Pakistan’s ratings to caa2, reflecting improved outlook

Moody’s Ratings has upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from CAA3 to CAA2, while changing the country’s outlook from stable to positive. This decision reflects the country’s improved macroeconomic conditions and moderately better government liquidity and external positions, despite remaining challenges. The upgrade to CAA2 means reducing Pakistan’s default risk, bringing it in line with the new rating level. This improvement is partly attributed to the recent staff-level agreement with the International Monetary Fund (IMF) for a 37-month Extended Fund Facility (EFF) of $7 billion agreed on 12 July 2024. The IMF Board is

July 29, 2024

News Desk

Fitch upgrades Pakistan’s long-term foreign currency rating to CCC+

International credit rating agency Fitch on Monday upgraded Pakistan’s long-term foreign currency issuer rating (IDR) from CCC to CCC+. The upgrade signals an improvement in Pakistan’s external liquidity and financing conditions, bolstered by the recent IMF accord. Fitch highlighted the strong performance under the previous agreement with the IMF, which helped Pakistan narrow its fiscal deficits and rebuild its foreign exchange reserves. However, the agency warned that Pakistan’s large funding needs could leave it vulnerable if demanding reforms are not implemented, potentially undermining program performance and funding. Fitch expects IMF board approval for the $7 billion, 37-month program by the

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