The State Bank of Pakistan on 2nd August has launched two initiatives which would facilitate the introduction of digital financial products and services by financial institutions. These were announced by the governor state bank at the 5th stakeholder meeting of the digital financial services.

The market-leading cement sector saw a 19 percent decrease in sales during the month of July due to the monsoon season and Eid Holidays, the All Pakistan Cement Manufacturers Association reported. On the other hand, the coal sector prices remain elevated.

The approval of the largest ever Special Drawing Rights by IMF worth $650 to help the emerging economies combat economic slowdown will benefit Pakistan as well. This will help put the global economy on a sustainable growth path.

The first month of revenue collection by FBR exceeds the set target by big margins. On the other hand, Prime Minister Imran Khan has promised businessmen that the government reforms aimed at improving the tax system are underway, and directed that the stakeholders meet regularly for consultations to improve the system.

Lower cost of borrowing, increased options, and decreased duties by the government have allowed people to buy more cars, and thus increased car financing and car sales in the country. On the other hand, the EV sector of the auto industry is kicking off with MOUs and partnerships being signed between local and international companies.

A recent meeting of the Economic Coordination Committee has decided to import 200,000 metric tonnes of sugar to build strategic reserves as countermeasures because the government expects speculative forces to drive the price up. Rs18 billion has been set aside for the import of the necessary sweetener.

After Fakhr-e-Alam and Shoaib Malik, now 73 Pakistani entrepreneurs and businessmen have been granted the Golden Visa that erases travel restrictions for 10 years.

Imran Khan government has started work to comply with the FATF's recent and most challenging points given in the recent plenary. The implementation of these points would tighten the regulations for Pakistanis who have investments abroad.

Pakistan's Current Account has fared pretty well on the back of high capital inflows from remittances and the textile sector, but the recent downward trajectory shows that government needs to work on policy reforms to diversify the export portfolio and maintain the promised "sustainable growth".

Aqeel Karim Dhedhi while talking to a private media channel said that behind the current plunge in the economic indicators there is a sign for the hope that will be visible in some time as the local economy heading towards expansion. He also suggested solutions to the energy sector's problems.

The reforms will increase the normal limits on access to concessional financing by 34 percent, coupled with the elimination of hard limits on access for the poorest countries. This would increase the flexibility of funds disbursement according to the need of the related countries.

As the new fiscal year 2022 begins, the experts argue government's macroeconomic direction seems to go in a direction that is inflationary by every standard, increasing the burden on the people and will make the far-reaching economic targets difficult to realize.