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.

The State Bank of Pakistan (SBP) injected Rs10.31 trillion into the banking system on Friday through its Open Market Operation (OMO). This included Rs9.61 trillion disbursed via conventional reverse repo OMO and Rs706 billion provided under Shariah-compliant Modarabah-based OMO.

Federal Minister of Finance and Revenue Muhammad Aurangzeb said China has played an important role in Pakistan's digital transformation, which is essential for achieving sustainable economic development.

The Revenue Division has proposed a one-time waiver from the government policy that mandates the abolition of 60 percent of vacant posts in field formations, citing difficulties faced by the Federal Board of Revenue in implementing modernization plans.

The government raised Rs326 billion through the sale of Treasury bills (T-bills) as yields decreased by up to 41 basis points, driven by expectations of a 100-basis-point rate reduction in the upcoming State Bank of Pakistan (SBP) policy review on January 27.