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KARACHI: The Sindh government has decided to impose ban on interprovincial movement of wheat in anticipation of the grain’s shortage and resultant price hike of flour in the province. Sindh Minister for Food Hari Ram Kishori Lal said on Monday that the decision was taken over apprehensions expressed by Pakistan...
KARACHI: The business community on Monday reacted with dismay and some shock at the decision by the State Bank to raise the key policy discount rate by 1.5 per cent, bringing it to 12.25pc. “I think there was no need for any further interest hike as food inflation was quite...
ISLAMABAD: The Federal Board of Revenue (FBR) has notified rules for the implementation of the first tax amnesty scheme of the PTI government for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates. The four-page document, called Assets Declaration (Procedure and Conditions) Rules 2019, was...
KARACHI: In a move that will doubtless trigger dismay across the business community, the State Bank of Pakistan (SBP) on Monday raised its policy rate by 150 basis points to 12.25 per cent, 50bps above market expectations. The bank cited rising inflation as well as expectations of future inflation driven...
ISLAMABAD:  The government has remained unable to appoint a new president of Zarai Taraqiati Bank Limited (ZTBL), amid a 28% reduction in disbursement of loans to farmers by the bank during first nine months of the current fiscal year. ZTBL – the country’s premier public sector financial institution, responsible for meeting...
PESHAWAR:  With militancy and terrorism which swept large swathes of the province and the tribal districts nearly destroying the honey business of Khyber-Pakhtunkhwa (K-P) not too long ago, honey traders have managed to rebuild. But as they observed the World Bee Day, traders have urged the government to do more to...
KARACHI:  Honda Atlas Cars Pakistan’s profit dropped by a significant 40.7% to Rs3.9 billion in the quarter ended March 31, 2019, according to a company notice sent to the Pakistan Stock Exchange (PSX). The company reported earnings of Rs6.5 billion in the same quarter of the previous year. Earnings per share...
LAHORE: More than 35% of development funds in the upcoming provincial budget are likely to be allocated for southern Punjab, said Punjab Finance Minister Makhdoom Hashim Jawan Bakht. Addressing a press conference on Monday, Bakht said unfortunately, the allocations and actual development spending for this part of the province has a...
ISLAMABAD:  Pakistan’s debt and liabilities have risen steeply to Rs35.1 trillion or 91.2% of size of the economy, further deepening concerns over debt trap that has started limiting the government’s policy options. The statistics released by the State Bank of Pakistan (SBP) at the weekend showed that only from July through...
KARACHI: The State Bank of Pakistan (SBP) on Monday aggressively hiked the key interest rate by 150 basis points to a 91-month (nearly eight-year) high at 12.25% in anticipation of acceleration of inflation under the International Monetary Fund’s (IMF) loan programme. The monetary policy committee at the central bank tightened the...

Opinion

crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...