Business News
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Loan projections shared with IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan still hopes to get a total of $32 billion in foreign funds in the current fiscal year, as it has largely kept unchanged its old projections, except for commercial loans and sovereign bonds, show new details shared with the International Monetary Fund (IMF). The estimates include budgetary loans of $23 billion, grants…
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Foreign diplomats vow assistance in rehabilitation of flood victims
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[ad_1] Internally displaced flood-affected women gather at a makeshift camp in Jamshoro district of Sindh province on September 26, 2022. — AFP/File Foreign diplomats posted in Pakistan vowed assistance in the rehabilitation of flood victims during separate meetings with Federal Minister for Finance and Revenue Ishaq Dar. Pakistan was hit by the most disastrous and…
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Developing economies’ debt more than doubled over decade: World Bank
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[ad_1] A person enters the World Bank’s building in Washington. — AFP/File WASHINGTON: The external debt of developing economies has more than doubled from a decade ago to $9 trillion in 2021, the World Bank said Tuesday, warning the debt crisis facing these countries has intensified. The pandemic has forced many countries to take on…
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Govt categorically denies rumours on imposing economic emergency
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[ad_1] — AFP/File The Finance Division Tuesday categorically denied assertions on supposed economic emergency proposals being circulating on social media, terming them “false”. In a statement issued today, the Finance Division not only strongly rebutted the assertions made in the said message but also categorically denied it. It stated that there is no planning to…
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Russian delegation to visit Pakistan on Jan 20 for talks on oil deal: minister
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[ad_1] Minister of State for Petroleum Division, Dr Musadik Malik is addressing a press conference at PID media centre on August 2, 2022. APP/File State minister says US will not impose sanctions on Pakistan for proposed deal with Moscow Minister of State for Petroleum Musadik Malik Tuesday revealed a high-level delegation from Moscow will arrive in…
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Rupee extends losses on IMF’s ninth review limbo
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[ad_1] Currency dealer can be seen counting $100 notes while Rs500 notes stack can be seen placed on the table. — AFP/File Rupee continued to extend losses on Tuesday as investors kept a close eye on the talks between Pakistan and the International Monetary Fund (IMF) which are currently at a stalemate. The local unit…
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Hammad flays govt for bad economics | The Express Tribune
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[ad_1] LAHORE: Slamming the federal government for its economic policies, (PTI) Pakistan Tehreek-e-Insaf leader Hammad Azhar on Monday said that the economy is deteriorating, and the dollar is not even available even at the existing rate. Addressing a press conference in Lahore, he said that LCs of spare parts have not been opened. He added…
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Forex crunch hits govt’s own transactions | The Express Tribune
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[ad_1] ISLAMABAD: A financial crunch and the paucity of dollars in government coffers is affecting the government’s own business, as the railways ministry complained on Monday of facing difficulties in opening the letter of credit for the import of carriages from China. The Senate Standing Committee on Railways was informed that the 46 passenger coaches…
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Oil jumps on China easing COVID restrictions, Russia price cap
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[ad_1] In this file photo taken on September 28, 2022 oil pumpjacks are seen along a section of Highway 33 known as the Petroleum Highway north of McKittrick in Kern County, California on September 28, 2022. — AFP LONDON: World oil prices rallied Monday after more easing of strict COVID containment measures in China and…
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PM for low-cost power generation as energy import bill surges to $27bn
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[ad_1] Prime Minister Shehbaz Sharif addresses the inaugural ceremony of the refurbishment of unit 5 and 6 of Mangla Dam in Mangla on December 5, 2022. — PID MANGLA: Prime Minister Shehbaz Sharif on Monday underscored the need for cheaper electricity generation as the country’s energy import bill has swelled to $27 billion. Addressing the inaugural…
