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Govt spending $10bn annually to pay off debt

Govt spending $10bn annually to pay off debt

The government on Tuesday said that it was spending around US $ 10 billion per annum for debt repayment as against around US $ 5.5 billion being paid by the previous government. The statement was

PSX snaps rally

PSX snaps rally

Pakistan Stock Exchange has been on a roller-coaster ride as it has become one of the best performing indices in the world ever since the Covid-19 disrupted the global economy; however that shine is losing

Pakistan posts current account surplus

Pakistan posts current account surplus

Pakistan posted a current account turned surplus for the second consecutive month in August 2020 led by an impressive growth in workers’ remittances and lower import payment, data released by the State Bank of Pakistan

Remittances rise to $2.09bn in August

Remittances rise to $2.09bn in August

Workers’ remittances into the country continued on the positive trend as they clocked in above $2 billion in August for the third month in a row, data released by the State Bank of Pakistan showed

Remittances to decline, says Fitch

Remittances to decline, says Fitch

Remittances to Pakistan could decline in the ongoing quarter i.e. July to September despite the country reporting a record jump in flows during the month of June, Fitch Ratings said in a press release. “The

Pakistan debt level sustainable, says Finance Ministry

Pakistan debt level sustainable, says Finance Ministry

The Ministry of Finance late on Saturday said the country’s debt was not elevated and easily manageable given the country’s outlook for the next few years. “According to latest numbers released by the State Bank

Economy on right track, says Finance Ministry

Economy on right track, says Finance Ministry

The Ministry of Finance has said the country’s economy is likely to rebound in the coming quarter as the major economic indicators including the large scale manufacturing, trade account, current account, remittances and the foreign

Fiscal deficit narrows to 8.1pc in last fiscal year

Fiscal deficit narrows to 8.1pc in last fiscal year

The country’s fiscal deficit in the fiscal year 2019-20 stood at 8.1 percent of the GDP, data released by the Ministry of Finance showed on Wednesday. In figures, the budget deficit in FY20 amounted to

Pakistan receives $505m from World Bank

Pakistan receives $505m from World Bank

The State Bank of Pakistan on Tuesday said that it has received $505 million from the World Bank. “#SBP has received USD 505.5 mn today from @WorldBank,” it said in a tweet released on the

Remittances to remain under pressure, says Moodys

Remittances to remain under pressure, says Moodys

The global rating agency Moodys on Monday said that the inflow of remittances into the countries dependent on these earnings will slow down due to the coronavirus implication and have a negative impact on the