Business News
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Pakistan to pay Rs18.7 trillion in debt this year: Finance ministry | The Express Tribune
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[ad_1] The federal government has released details of national and foreign debt up to June this year, as reported by the Ministry of Finance. The data was presented to the National Assembly. As of June this year, Pakistan’s domestic debt stood at Rs71 trillion, comprising over Rs47 trillion in domestic loans and more than Rs24…
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Slim prospects for PIA privatisation | The Express Tribune
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[ad_1] ISLAMABAD: The government disclosed on Thursday that out of six selected parties, only two appear serious about acquiring Pakistan International Airlines (PIA). The entity may not fetch as good a price as was possible during the last attempt to privatise it eight years ago. In a briefing to the Senate Standing Committee on Privatisation,…
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PIA privatisation expected to be completed by Oct 1, Senate body told
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[ad_1] A representational image of PIA airplane. — AFP/File ISLAMABAD: The Pakistan International Airline’s (PIA) privatisation process will not be extended beyond October 1, Privatisation Commission Secretary Usman Bajwa informed Senate Standing Committee on Privatisation on Thursday. Islamabad has for years been pumping billions of dollars into cash-bleeding state-owned enterprises (SOEs) to keep them afloat.…
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Finance minister unveils new incentives for foreign investors amid push for external financing | The Express Tribune
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[ad_1] Finance Minister Muhammad Aurangzeb announced new policy measures on Thursday aimed at enhancing Pakistan’s investment environment and attracting foreign investors, according to Radio Pakistan. The finance minister chaired a review meeting in Islamabad with representatives from joint venture investment firms, including Pak-Brunei Investment Company Limited and Saudi-Pak Industrial and Agricultural Investment Company. The discussion…
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Iran, Syria lead the world in lowest electricity pricing: report | The Express Tribune
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[ad_1] Electricity prices vary around the world depending on factors like natural resources, government policies, and economic stability. Some countries offer significantly cheaper electricity compared to others, potentially boosting their economies, encouraging industrial growth, and easing financial burdens on residents. A report published by Insider Monkey has compiled a list of countries with the lowest…
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Russia to begin using cryptocurrencies from September 1 | The Express Tribune
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[ad_1] MOSCOW: Russia will officially begin using cryptocurrencies for international payments from September 1, in an effort to bypass Western economic sanctions. With difficulties in traditional payment systems due to the sanctions, Russian authorities are turning to alternative methods to enable international transactions. Prior to the conflict in Ukraine in 2022, the Central Bank of…
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Experts urge exploiting arid lands for agriculture | The Express Tribune
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[ad_1] KARACHI: Business leaders and experts have called for leveraging over 50% of Pakistan’s untapped and arid lands for agriculture to elevate the country’s exports. Speaking at the International Conference on AgriTech Trade and Investment during the second day of the three-day 25th ITCN Asia 2024 at Karachi’s Export Centre, they emphasised the vast potential…
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Rapid spread of mpox heightens fiscal risks in Sub-Saharan Africa: Fitch
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[ad_1] A test tube labelled “Mpox virus positive” is held in this illustration taken August 20, 2024. — REUTERS NAIROBI: The countries in sub-Saharan Africa that are currently grappling with the menace of mpox may face fiscal pressure owing to the disease, warned ratings agency Fitch said on Wednesday. Potentially deadly mpox was declared global…
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Moody’s upgrades Pakistan’s ratings to ‘Caa2’ on improved economic outlook
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[ad_1] Signage is seen outside the Moody’s Corporation headquarters in Manhattan, New York, US, November 12, 2021. — AFP/File Taking into account the recent improvement in macroeconomic conditions, global credit rating agency Moody’s Ratings on Wednesday upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. “We have also…
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Moody’s raises Pakistan’s ratings to caa2, reflecting better outlook | The Express Tribune
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[ad_1] Moody’s Ratings has upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from CAA3 to CAA2, while changing the country’s outlook from stable to positive. This decision reflects the country’s improving macroeconomic conditions and moderately better government liquidity and external positions, despite remaining challenges. The upgrade to CAA2 signifies a reduction…
