Economy stable, but challenges persist: IMF

IMF-demand

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 More

SBP grilled over money laundered via solar panels

solar-panel

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 More