ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has called on the State Bank of Pakistan (SBP) to allocate $758 million for foreign payments of power projects, many of which are under the China-Pakistan Economic Corridor (CPEC) framework. Managing Director of PPIB, Shah Jahan Mirza, in a letter to SBP Governor Jameel Ahmed, highlighted concerns from Independent Power Producers (IPPs)…
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IMF debt dilemma looms after Pakistan election
Baqir served as governor of the State Bank of Pakistan (SBP) from 2019 till 2022 LONDON: The International Monetary Fund (IMF) faces tough choices on how to deal with Pakistan after the February 8 general election and how to assess the country’s debt situation, former central bank governor Reza Baqir said. The government secured a $3 billion loan programme with…
Read MoreEconomy stable, but challenges persist: IMF
WASHINGTON: The IMF Executive Board’s decision to disburse around $700 million to Pakistan reflects a positive review of the country’s economic reform programme. While economic activity has stabilised, challenges persist, contingent on the effective implementation of sound policies. Macroeconomic conditions have shown improvement, with a projected two per cent growth in FY24. The fiscal position strengthened in 1QFY24, achieving a…
Read MoreSBP grilled over money laundered via solar panels
ISLAMABAD: The Senate Standing Committee on Finance on Wednesday regretted that the State Bank of Pakistan (SBP) had shared insufficient information on over Rs70bn established trade-based money laundering through the import of solar panels and ordered immediate payment to teachers their salaries pending since the start of the current fiscal year. Senator Saleem Mandviwalla, who presided over the meeting, lamented…
Read MorePakistan’s Infrastructure Spending Lowest in Region: SBP Governor
Foundation spending in Pakistan is one of the least in the locale in spite of being viewed as the best and pivotal gas pedal of long haul and practical financial development and improvement, the national bank lead representative said on Tuesday.
Read MoreImport of Solar Panels SBP Asks Govt To Prepare List of ‘Reputable’ Suppliers
State Bank of Pakistan (SBP) has proposed to the government services to set up a rundown of respectable providers to import sun powered chargers to keep away from tax evasion or over-invoicing as a few nearby merchants have laid out exchange substances abroad which are conveying the gamble of over
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