Business News
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SBP-held forex reserves plunge to $4.5 billion: sources
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[ad_1] A person counting dollar bills. — AFP After the repayment of loans to banks in the United Arab Emirates (UAE) totaling $1.2 billion, foreign exchange reserves held by the State Bank of Pakistan (SBP) reduced to just $4.5 billion,…
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IMF chief declines to travel to Geneva on PM’s invitation, ready to attend moot virtually
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[ad_1] International Monetary Fund Managing Director Karistalina Georgieva calls on Prime Minister Muhammad Shehbaz Sharif on September 21, 2022. — Twitter/@KGeorgieva ISLAMABAD: On Prime Minister Shehbaz Sharif’s invitation to attend Climate Resilient Pakistan Conference in Geneva, International Monetary Fund (IMF)…
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Pakistan imports threatened as forex reserves hit eight-year low
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[ad_1] An undated image of the US dollar. — AFP/File KARACHI: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion…
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World food prices hit record high in 2022
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[ad_1] A woman shops for groceries at a supermarket in Monterey Park, California on October 19, 2022. — AFP PARIS: World food prices fell for a ninth month in a row in December, though they hit their highest level on…
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SBP’s forex reserves continue to decline
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[ad_1] This photo taken on April 22, 2022, shows pounds and US dollar banknotes displayed on a table in London. — AFP The State Bank of Pakistan (SBP)-held foreign exchange reserves suffered a major depletion in the week owing to…
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Global oil prices dive amid reduced demand
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[ad_1] Pumpjacks photographed in the Montebello Oil Field in California, on February 23, 2022. — AFP LONDON: Global oil prices plunged Wednesday over China demand concerns and European gas prices sank to their lowest levels since November 2021 as mild…
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Ishaq Dar hopes Saudi Arabia beefing up deposit ‘in a matter of days’
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[ad_1] Minister for Finance and Revenue Senator Ishaq Dar adresses a presser in Islamabad January 4, 2023. — Screengrab via YouTube/PTV News Minister for Finance and Revenue Senator Ishaq Dar Wednesday said he expects that Saudi Arabia will beef up…
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‘IMF deal’ on table if PTI forms govt again
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[ad_1] PTI Senior Vice-President Fawad Chaudhry. — AFP/Files Pakistan Tehreek-e-Insaf Senior Vice-President Fawad Chaudhry said Tuesday that if the PTI comes into power again, it will have no choice but to seek financial assistance from the International Monetary Fund (IMF)….
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Energy conservation plan: Traders, restaurant owners reject govt’s decision
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[ad_1] A view of a rickshaw driver standing near a closed market in Karachi on June 17, 2022. — INP/File Traders and restaurant owners Tuesday categorically rejected the federal government’s decision to shut all malls and markets by 8:30pm in…
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Pakistan can avoid default only by entering IMF programme: Imran Khan
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[ad_1] Pakistan Tehreek-e-Insaf Chairman Imran Khan addresses his party workers via video link.— Twitter/@PTIofficial Castigating the economic policies of the coalition government, deposed prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has warned that Pakistan can avoid default only…
