Pakistan Poverty Alleviation Fund’s Post

After years of challenges, #Pakistan has achieved a #fiscalsurplus of PKR 1.7 trillion during Q1FY25. Further, #primarysurplus during the same period is reported at PKR 3 Trillion. Among many other factors, this improvement is backed by historic profits of State Bank of Pakistan. This milestone not only reflects the resilience of #economy but also highlights the effective measures taken by the policy makers to restore fiscal balance. This surplus is a crucial step towards sustainable economic growth, paving the way for future investments. It is paramount that Government continues to observe resilience and move steadily on the path of consolidation without any policy slippage .

The State Bank of Pakistan (SBP) has reported a significant rise in the country's liquid foreign reserves, reaching $14,573 million as of June 28, 2024. According to data released on Thursday, the SBP's reserves alone stood at $9,389.5 million, marking a notable increase of $494 million during the week ending June 28, 2024. This surge was attributed to substantial official inflows from multilateral agencies. Moreover, commercial banks in Pakistan held net foreign reserves amounting to $5,183.5 million as of the same date, further contributing to the country's overall reserve strength. The increase in foreign reserves underscores Pakistan's ongoing efforts to bolster its economic stability amid global economic fluctuations. The latest figures reflect a positive trend in the country's fiscal management, potentially providing a buffer against external financial pressures.#pakistannewsroom #NewsUpdate #UrduNews #LatestNews #PMLN #iran #BOLNews #pakistannewspaper #mbatv #HumNews #PMShehbazSharif #cmmaryamnawaz #panjab #SindhNews #KPK #KPKNews #Balochistan #islamabad #lahore #Multan #karachi #rawalpindicity #PakistanZindabad

Pakistan is finally up for sale, while the economic and security windows have been closed, under SIFC mumbo jumbo, as per the Pakistani economist. SIFC is just a fancy name to hand over control of Pakistan's assets to foreign entities. #pakistan #economy

#Riyadh: During the #IsDB2024AMs in Riyadh, the IsDB Governor and Minister of Economic Development and Trade from the Republic of Tajikistan, H.E. Zavqi Zavqizoda, along with his delegation, paid a courtesy call on ITFC CEO & Acting CEO, Islamic Corporation for the Development of the Private Sector (ICD), Eng. Hani Salem Sonbol. The dialogue encompassed discussions on the existing scope of cooperation and future initiatives, including the TCCA+ Program which aims to boost intra-regional trade in the Central Asian Region. #ITFCImpact #IsDBAnnualMeetings #AdvancingTrade

The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Meezan Bank's delegation, led by Chairman Mr. Riyadh S.A.A. Edrees. The discussion highlighted Meezan Bank's significant role as the largest Middle Eastern bank, with 17,000 employees across Pakistan. The delegation praised Pakistan's economic reforms and efforts to increase remittances. Minister Aurangzeb underscored improvements in macroeconomic indicators and ongoing government reforms. Both parties are optimistic about Pakistan's economic growth and future collaboration. #EconomicGrowth #FinanceMinister #MeezanBank #EconomicReforms #InvestmentOpportunities #PakistanEconomy #CheckItNow

What is the impact of easier requirements for business entry in Iraq? Today, in the context of a The World Bank seminar in Amman, we discussed this topic with a delegation from the Iraqi Government. Significant good work is already in progress and more can be achieved with specific reforms aimed at encouraging local SMEs to get into the formal economy. I am proud and exited to be part of this endeavor, together with Basma Al Nabulsi and Mohamed Hassan Abdulkader. #worldbank #businessregistration #Iraq

Ahsan Iqbal, a senior leader of the Pakistan Muslim League-Nawaz (PML-N), criticized the founder of the Pakistan Tehreek-e-Insaf (PTI) for the economic challenges facing the country. Speaking in Narowal on Sunday, Iqbal emphasized the urgent need to revitalize the nation's economy, citing the necessity of acquiring Rs. 7300 billion to meet outstanding loans. In his remarks, Iqbal expressed concern about the country's heavy reliance on loans, stating, "The entire country is running on loans." He further asserted that it is not prudent to consistently resort to borrowing. This statement reflects Ahsan Iqbal's perspective on the economic situation in Pakistan, where he underscores the importance of addressing economic challenges and reducing dependence on loans for sustainable financial stability. #Pakistan #Loan #Economy #development #Growth

Pakistan witnessed exceptional growth in remittances, with inflows reaching $3 billion in the first month of this fiscal year, up from $2.029 billion in July 2023. This significant increase of $966 million highlights the crucial role of overseas Pakistanis in supporting the economy. #remittances #pakistaneconomy #financialgrowth #statebankofpakistan #sbp #pakistan #zlk #zlksecurities #zlkislamic

Great News for Pakistan! The Government of Pakistan has announced that the country will be interest-free starting from January 1, 2028. This is a historic step towards an economy aligned with Shariah principles. This milestone will open new avenues for economic growth and encourage businesses and individuals to adopt ethical financial practices. It is a proud moment for all of us as we move towards a more just and inclusive financial system. #InterestFreeEconomy #Pakistan #IslamicBanking #ShariahFinance #EconomicReform State Bank of Pakistan (SBP)