The International Monetary Fund (IMF) has rejected Pakistan’s suggestion to lower industrial electricity tariffs by Rs2.70 per unit, citing the necessity for comprehensive reforms in the power sector rather than piecemeal actions. This move was reported by local news outlets.

The State Bank of Pakistan (SBP) Governor shared insights on the recent decision by the Monetary Policy Committee (MPC), noting that the rate reduction was driven by the current inflation outlook and positive economic indicators.

Pakistan needs to streamline its regulations and enhance economic predictability to boost investment and accelerate growth, according to a senior World Bank official, Martin Raiser, as reported by Bloomberg.

Commercial banks in Pakistan have borrowed Rs9.61 trillion from the State Bank of Pakistan (SBP) at an interest rate of 13.04 for a seven-day period, as reported by the central bank on Friday.

However, no bids were received for fresh borrowing for the longer 28-day period.

The Federal Board of Revenue (FBR) has requested an exemption from the federal cabinet’s directive to abolish 60% of vacant posts, proposing to retain 1,730 positions as a one-time dispensation.

The government has decided to extend the incentives granted to Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) to all industrial estates and zones across the country.