No Result
View All Result
Monday, July 28, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

    Chal Mera Putt 4

    Trailer released for Chal Mera Putt 4 featuring Pakistani stars

    Gen V

    Gen V returns: What shocking truths are unveiled in the season 2 trailer?

    Image: Dunya News

    Does Dua Zahra love Babar Azam? The actress shares what’s in her heart

    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

    Chal Mera Putt 4

    Trailer released for Chal Mera Putt 4 featuring Pakistani stars

    Gen V

    Gen V returns: What shocking truths are unveiled in the season 2 trailer?

    Image: Dunya News

    Does Dua Zahra love Babar Azam? The actress shares what’s in her heart

    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Uncategorized

Debt repayments on track, foreign reserves to increase in 2nd half: SBP Governor

APP by APP
December 8, 2022
Governor SBP

file photo

ISLAMABAD: All debt repayments are on track and country’s foreign exchange reserves are expected to increase in second half of the current fiscal year, said Governor State Bank of Pakistan (SBP), Jameel Ahmad.

In the latest episode of the SBP Podcast series, Governor SBP discussed in detail the country’s capacity to meet its international financial obligations and addressed concerns over external account vulnerabilities.

He said, for the fiscal year 2023, around $33 billion were to be repaid to external stakeholders, including the Current Account Deficit (CAD) of $10 billion and $23 billion in loan repayments.

Out of the payable $23 billion external debt, Pakistan has already repaid more than $6 billion whereas as a bilateral loan of $4 billion has been rolled over with the cooperation of relevant countries.

Another $8.3 billion maturing obligations are expected to be rolled over as discussions are underway. The remaining outstanding repayment stands around $4.7 billion for the remainder of this fiscal year. This includes $1.1 billion in commercial loans that have to be paid to foreign banks and $3.6 billion in multilateral loans.

He said, Pakistan has received foreign exchange inflows of $4 billion (excluding the rollovers of $4 billion mentioned above). Pakistan will continue to make timely loans payments while inflows are expected to increase significantly in the second half of the current fiscal year.

Along with the rollover of some external obligations, Pakistan’s foreign exchange reserves are expected to increase significantly in the coming months.

He said, during the week 28Nov-02Dec SBP reserves reached $7.9 billion after receipt of $500 million from AIIB . During the week SBP paid US$ 1,000 million against maturing Pakistan International Sukuk and some other external debt repayments.  Accordingly, Pakistan’s foreign exchange reserves stood at $6.7 billion as of December 2, 2022.

Earlier the central bank had repaid two commercial loans totaling $1.2 billion. These banks are expected to refinance the same amount, in coming days, helping to raise the country’s foreign exchange reserves.

The government is also in talks with a friendly country for the disbursement of a $3 billion loan and negotiations with multilateral agencies are progressing, for further financial support.

He said, the debt profile of Pakistan is composed of bilateral and multilateral creditors and only a small percentage is owed to foreign banks. SBP has enough reserves to repay all obligations in an effective manner and the inflows expected will boost forex reserves.

He was of the view that globally, the war in Ukraine, a historic increase in the international commodity prices and monetary tightening pursued by central banks are major challenges.

As a result of this, developing countries, including Pakistan are facing difficulties in raising funds from international financial markets. On the domestic front, the economy is impacted by floods which created challenges for Pakistan.

Overall, the situation is challenging; however, SBP and the government are taking measures to improve it.

He said, at the beginning of the fiscal year, SBP projected CAD to be $10billion for FY23, however, as Pakistan was hit by historic floods, this led to expectations of some increase in imports particularly that of wheat, fertilizers and cotton.

Along with this, the country’s exportable crops were impacted due to floods and as a result, it was expected that Pakistan’s CAD will increase by US$2 to US$3 billion.

In the international market, however, some important developments have taken place including a decrease in the price of petroleum products. SBP has also taken policy actions that will reduce some outflows significantly. As a result of these policy interventions and other measures, it is expected that CAD will remain below $10 billion for FY23.

He said, in the last quarter of FY22, SBP and government implemented some administrative measures to rationalize imports and improve the external accounts position.

SBP placed restrictions on imports mentioned in chapters 84, 85 and certain items of 87. These restrictions covered about 15 percent of Pakistan’s total imports whereas no restrictions have been placed on 85 percent of imports.

Thereafter, SBP in coordination with the government identified 8 to 10 business sectors which were genuinely affected and needed relief. They were allowed to import 50 percent to 60 percent of their monthly average import payments made during January to June, 2022.

Similarly, some importers reported cases of demurrages where LCs for imports were opened before the issuance of SBP restrictions. SBP in coordination with commercial banks resolved the issue and the backlog of payments were cleared.

Further, some relaxations were also given after consultation with industry. Consequently, less than 10 percent of the country’s imports are currently subject to administrative controls. All such restrictions are temporary and will be withdrawn gradually.

He said, Petroleum and Pharmaceuticals are among the priority sectors for SBP adding there are absolutely no restrictions on the import of petroleum products, or on the import of raw material or inputs related to the pharmaceutical sector.

He said SBP recognize that administrative measures on imports must not be continued and need to relax them gradually. From next year, the bank may review them and bring more ease to the businesses.

ShareTweetSendShare
Previous Post

Sri Lankan player loses teeth while taking catch in LPL match: watch video

Next Post

Saudi Arabia announces to pull out Pakistan from financial crunch

Related Stories

Screen grab
Uncategorized

Viral video sparks outrage as Karachi traffic police ‘fine’ cyclist

July 26, 2025
Imran Khan during court appearance: Fie photo
Uncategorized

Imran Khan moves SC after bail rejection in May 9 cases

July 26, 2025
File
Uncategorized

Buildings constructed on nullahs to be sealed in THIS Pakistan city

July 25, 2025
c
Top News

Safar moon 2025 not sighted across Pakistan

July 25, 2025
Uncategorized

Four young sisters drown in creek in Balochistan’s Loralai

July 25, 2025
Prime Minister Shehbaz Sharif (right) meets Dr Fouzia Siddiqui, sister of Dr Aafia Siddiqui, at the PM Office in Islamabad, on July 25, 2025. — APP
Top News

PM Sharif assures all possible support in Dr Aafia Siddiqui’s case

July 25, 2025
Online
Uncategorized

Son of rickshaw driver tops Punjab Matric exams in Arts group

July 25, 2025
File photo
Uncategorized

PTI leader Hammad Azhar decides to surrender before court

July 25, 2025
File photo
Uncategorized

PAF successfully completes rescue mission in GB after flash floods

July 25, 2025
Pic credit: DP
Uncategorized

Viral video: Revo overturns at Karachi’s Sea View

July 24, 2025
Next Post
Saudi Finance Minister Mohammed Al Jadaan

Saudi Arabia announces to pull out Pakistan from financial crunch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

OpenAI CEO Sam Altman (File Photo)
Technology

Don’t share your deepest secrets with ChatGPT, warns Sam Altman

by MM News Staff
July 27, 2025
File Photo
Daily Buzz

Alizeh Shah claims she is receiving death threats from fellow actress

by MM News Staff
July 27, 2025
(Representational Image)
Crime

Two fake doctors arrested after performing surgery on woman in Bahawalnagar

by MM News Staff
July 27, 2025
(Image: cinebuster.in)
Film & TV

Who is Ruchi Gujjar and what did she do?

by MM News Staff
July 27, 2025
National

Karachi residents pay the highest price for flour in Pakistan

by MM News Staff
July 27, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rescue personnel evacuate villagers by boat from a flooded village following heavy rains in the Taunsa district of Punjab on July 16, 2025. — AFP
National

Thousands displaced, crops destroyed as floods wreak havoc in Punjab

by MM News Staff
July 27, 2025

Floods have caused widespread devastation across several cities in Punjab, damaging crops and leaving...

File photo

KP issues travel advisory amid monsoon showers

July 26, 2025
Image: file photo

Weather updates for Islamabad, other parts of country

July 26, 2025
File Photo

Another monsoon spell to begin in Pakistan from July 28

July 25, 2025
See all

Prices

National

Karachi residents pay the highest price for flour in Pakistan

by MM News Staff
July 27, 2025

Residents of Karachi are compelled to purchase the costliest flour in Pakistan, with a...

representative image

Gold prices in Pakistan today- Sunday 27 July 2026

July 27, 2025
representative image

Gold prices in Pakistan today- Saturday 26 July 2026

July 26, 2025
File Photo

Govt to deregulate electricity prices under new competitive energy market policy

July 25, 2025
See all

Transport News

Chakwal
Crime

Tragic bus crash in Chakwal: 6 dead, 24 injured near Dhok Sial

by MM News Staff
July 27, 2025

A bus fell into a ravine near Dhok Sial on the motorway in Chakwal,...

Charged Parking

Has the Sindh government put an end to parking fee extortion?

July 25, 2025

E-Taxi scheme launch date unveiled in Punjab

July 24, 2025
(File Photo)

Air Arabia Abu Dhabi expands operations in Pakistan with new Faisalabad, Multan flights

July 24, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.