Supporting economic policies : WB pledges $1.5bn programme for Pakistan
World Bank (WB) Vice President Philippe Le Houerou announced on Wednesday that in view of the economic policies and stabilisation measures taken by the present government the WB is now ready to work out a $1.5 billion programme for the present fiscal year to support the government’s economic policies.
$6.6 billion loan: LoI submitted to Fund
Pakistan has submitted a Letter of Intent (LoI) for a $6.6 billion loan from the International Monetary Fund (IMF) under Extended Fund Facility (EFF). more... (BR)
MPS next week: policy rate may be raised
The State Bank of Pakistan is likely to adopt tight monetary stance in upcoming policy, to be announced next week, because of rising inflationary pressure on the economy. more... (BR)
During last 40 days: massive government borrowing raises indebtedness to Rs 2,824 billion
The government's massive borrowing of Rs 610 billion during the last 40 days from the State Bank of Pakistan (SBP) has raised its indebtedness to Rs 2,824 billion on August 9, 2013 from Rs 2,213 billion on June 30, 2013. more...(BR)
Meezan Bank plans country’s first airtime sukuk in Q4
Pakistan’s Meezan Bank has planned to arrange the country’s first airtime-based sukuk (Islamic bond), a format favoured by telecommunications operators wishing to tap liquidity in the Islamic capital markets.
Food, textile group exports increase in July
The food group’s exports increased by 30 percent on yearly basis to Rs 39,117 million and textile group exports jumped by 18 percent to Rs 121,552 million in July 2013 as against Rs 30,012 and Rs 102,893 million, respectively in same month of last fiscal. more...(DT)
Bypassing manufacturing: ADB warns Asian economies
Growth-hungry Asian economies which bypass industrialisation and leapfrog from agriculture to the services sector may fall into a "middle income trap", the Asian Development Bank (ADB) cautioned Wednesday. more...(BR)
Current Account balance turns positive in July
The country's current account balance has become positive and surplus by $46 million in July 2013 mainly due to massive raise in home remittances. more...(BR)