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The budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). [5]
The 2024–25 Pakistan Federal Budget is a financial statement of the government's estimated receipts and expenditures for the fiscal year that runs from 1 July 2024 to 30 June 2025. [1] [2] On 12 June 2024, finance minister Muhammad Aurangzeb presented the federal budget with a total outlay of Rs18.877 trillion. [3] The same day, a copy of the ...
About Rs. 24.309 trillion (US$87.24 Billion as of June, 2024) is owed by the government to domestic creditors, and about Rs. 1.67 trillion s/$6 Billion owed by Public Sector Enterprises (PSEs). [6] Pakistan is facing a "huge external financing gap" of $4 billion, with China, Saudi Arabia, and the UAE expected to provide additional support.
The Karachi Interbank Offered Rate (KIBOR) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market. [1] The banks used it as a benchmark in their lending to corporate sector. [2]
In February 2004, a consortium led by ABN AMRO, Deutsche Bank, and JPMorgan arranged a $500 million five-year fixed-rate bond for the government, issued at par with a 6.75 percent coupon. [4] In March 2006, the Government of Pakistan selected Citigroup, Deutsche Bank, and JPMorgan to manage a new international bond issuance valued at $500 ...
Economists estimate another rate reduction in December with additional cuts in 2025 ... 2024. The fixed rate for a 15-year mortgage is 6.00%, up 1 basis points from last week's average 5.99% ...
In July 2024, Pakistan reached a staff-level agreement for a new US$7 billion loan deal with the IMF. [10] Later in September 2024, the executive board of the IMF approved a USD 7 billion loan for Pakistan, which the country will receive in installments over 37 months. [11]
Households using less than 200 units of electricity offered loans in instalments to buy solar panels; Bloomberg News reported the following budget measures: [5] Pakistan primary surplus target of 0.2% of GDP; Targeted fiscal deficit of 4.9% of GDP; Increased tax on banks and fertilizers; Luxury tax on cars with 1,600cc engine size and above.