The current account deficit in Q1-FY20 fell to less than half of last year’s level, primarily on the back of significant import compression.
Sheikh said that economy would be in stabilization mode over next six to twelve months before moving in the phase of recovery and high growth.
A delegation of Federal Board of Revenue (FBR), headed by its Chairman Jehanzeb Khan held negotiation with the officials of International Monetary Fund (IMF) in connection with the expected bailout package and hinted at raise in tax collection target by Rs600bn in the next fiscal year.
ISLAMABAD: Federal Minister for Finance, Asad Umar, says the next International Monetary Fund (IMF) programme being pursued by the incumbent government will be Pakistan’s last. He made this statement during a meeting with stockbrokers at the Pakistan Stock Exchange in Karachi today. Insisting that the Pakistan’s economy is already on road to recovery, Mr. Umar said he arrived to especially meet the traders to dispel their reservations about the economy and the market. Read: First year of govt may be difficult for us:…
ISLAMABAD: Moody’s Investors Service on Thursday maintained its stable outlook on Pakistan’s banking system, reflecting strengthening the economy, and high liquidity buffers. The stable outlook also reflects the rating agency’s expectation that the country’s banks would continue to benefit from a stable deposit base, high liquidity buffers and an accelerating economic growth under the IMF programme, which would create lending opportunities over the next 12-18 months. Moody’s report, entitled “Banking System Outlook—…