Finance minister calls for public trust restoration | The Express Tribune
ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said that unless public trust is restored, the country cannot move forward, and the private sector must step up to lead the country. While addressing the Senate, Finance Minister Muhammad Aurangzeb stated that the Pakistani Rupee has stabilised in the current fiscal year, and inflation has dropped to […]
Pakistan to pay Rs18.7 trillion in debt this year: Finance ministry | The Express Tribune
The federal government has released details of national and foreign debt up to June this year, as reported by the Ministry of Finance. The data was presented to the National Assembly. As of June this year, Pakistan’s domestic debt stood at Rs71 trillion, comprising over Rs47 trillion in domestic loans and more than Rs24 trillion […]
Finance minister unveils new incentives for foreign investors amid push for external financing | The Express Tribune
Finance Minister Muhammad Aurangzeb announced new policy measures on Thursday aimed at enhancing Pakistan’s investment environment and attracting foreign investors, according to Radio Pakistan. The finance minister chaired a review meeting in Islamabad with representatives from joint venture investment firms, including Pak-Brunei Investment Company Limited and Saudi-Pak Industrial and Agricultural Investment Company. The discussion focused […]
Finance minister quells ‘noise’ casting doubts on IMF deal approval
Finance Minister Muhammad Aurangzeb speaks during an interview with Reuters at his office in Islamabad. —Reuters/File ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Friday voiced hope that “the International Monetary Fund (IMF) will approve the staff-level agreement next month,” quelling the naysayers’ doubts. Pakistan and the IMF reached an agreement on […]
Finance Ministry reveals substantial debt increase over three-year period | The Express Tribune
ISLAMABAD: The Ministry of Finance has submitted details to the Senate regarding the increase in national debt over the past three years. According to the written response, the national debt increased by Rs31.5 trillion during this period. In the fiscal year 2021-22, the debt rose by Rs9.4 trillion, in 2022-23 by Rs13.7 trillion, and in […]
Tax relief for salaried class on cards as finance ministry tasked to work out options
Stack of Rs5,000 and Rs1,000 notes. — AFP/File Prime Minister Shehbaz Sharif-led government is mulling over options to provide income tax relief to the salaried class as he has assigned this special task to his economic team, Geo News reported citing sources within the finance ministry. The development came as the coalition government comes under increasing […]
Finance ministry projects inflation moving towards single-digit rates
Federal Minister for Finance and Revenue Muhammad Aurangzeb addressing Pakistan Banks Associations Executive Committee at Islamic Chamber of Commerce on July 30, 2024. —APP The Ministry of Finance has forecast July inflation to fall between 12% and 13%, with further cooling in August to 11% to 12%, and expressed optimism about reaching single-digit rates in […]
Finance Minister Aurangzeb hints at more interest rate cuts | The Express Tribune
Listen to article Federal Finance Minister Mohammad Aurangzeb has indicated that there is room for further cuts in interest rates. Speaking at the Karachi Chamber of Commerce, Aurangzeb stressed the importance of macroeconomic governance for economic growth, noting that structural issues in the economy often lead to balance of payment problems when growth increases. Aurangzeb highlighted that […]
Finance minister briefs Fitch Ratings on Pakistan’s IMF agreement, economic reforms | The Express Tribune
On Monday, Finance Minister Muhammad Aurangzeb updated Fitch Ratings representatives about Pakistan’s recent Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) and outlined various measures aimed at bolstering the economy. The briefing, conducted via Zoom, underscored the positive effects of the nine-month Stand By Agreement with the IMF on Pakistan’s macroeconomic health. Earlier this […]
Finance czar hopeful of reaching deal with IMF this month
Pakistani Finance Minister Muhammad Aurangzaib poses after taking oath in Islamabad, Pakistan March 11, 2024. — Reuters ISLAMABAD: Finance Minister Muhammad Aurangzeb on Thursday said Pakistan would reach a reach a staff-level-agreement with the International Monetary Fund (IMF) this month as the talks between Islamabad and the global lender on the new bailout programme progressed […]