debt
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Rise in LNG chain circular debt feared | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan State Oil (PSO) has voiced fear that circular debt related to the liquefied natural gas (LNG) supply chain, which has already piled up to Rs447 billion, will continue to increase. In a recent corporate briefing on the company’s performance in first nine months of financial year 2022-23 and its operational dynamics, PSO…
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Working on restructure of debt with bilateral lenders: Dar | The Express Tribune
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[ad_1] Pakistan is working on the possibility of restructuring its bilateral debt regardless of whether it successfully completes its IMF review, Finance Minister Ishaq Dar said on Saturday, but reiterated it would not approach Paris club nation creditors or seek haircuts. “We’ll see how things go,” Dar told reporters, a day after releasing the budget…
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Debt servicing to take lion’s share in budget | The Express Tribune
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[ad_1] ISLAMABAD: The government may unveil a fiscally expansionary budget of around Rs14.6 trillion – an unprecedented 50% increase over this’s year’s approved budget – mainly on account of a record high interest payments. Sources told The Express Tribune that for fiscal year 2023-24, budget deficit – gap between expenses and the income – is…
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Circular debt shoots up by ‘Rs500b’ | The Express Tribune
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[ad_1] ISLAMABAD: The parliamentary Public Accounts Committee (PAC) was informed on Wednesday that circular debt in the gas sector increased during the current year but efforts were afoot to bring it down. The committee which met with its chairman Noor Alam Khan in the chair, also sought details of perks provided to the top government…
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Debt suspension deal with Korea signed | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Korea have signed a Debt Service Suspension Agreement. This agreement allows for the deferment of loan payments worth $19.911 million under the G-20 Debt Service Suspension Initiative (DSSI). Originally scheduled to be repaid between July and December 2021, the repayment will now be spread over six years, with a one-year grace…
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Oil, gas firms post profits in face of debt | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s state-run oil and gas companies are facing a serious challenge of circular debt that is putting the oil and gas supply chain and their future investment plans at stake. Despite witnessing growth, the companies are struggling to cope with the mounting debt that could collapse the entire industry. Circular debt has been…
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Is US going to default on debt payments as White House warns of economic disaster?
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[ad_1] White House warns of economic disaster. AFP/File The White House has issued a warning about the potential consequences of the United States defaulting on its debt payments, as Democrats and Republicans continue to grapple over national spending. The president’s Council of Economic Advisers has cautioned that if the US government fails to meet its…
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Pakistan’s debt sustainable, says IMF
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[ad_1] The International Monetary Fund’s (IMF) Managing Director, Kristalina Georgieva. Twitter Pakistan’s debt remains sustainable, the International Monetary Fund’s (IMF) Managing Director, Kristalina Georgieva said Friday as the nation faces one of its worst economic turmoils. The IMF statement comes after the Pakistani government announced it had met all requirements vital to receiving a critical…
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US think tank says Pakistan faces ‘real danger’ of defaulting on its debt
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[ad_1] Shipping containers are seen stacked on a ship at a sea port in Karachi on April 6, 2023. — AFP As Pakistan is going through one of its biggest economic crises in history — the Washington-based think tank United States Institute of Peace (USIP) — has warned that there is “a real danger that…
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Loans required urgently to avert public debt crisis: WB | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank, on Tuesday, said that various economic shocks pushed nearly four million Pakistanis into poverty this fiscal year. The lender also urged Islamabad to immediately arrange fresh foreign loans to avert a “public debt crisis”. The Pakistan Development Update – a flagship report from the lender, has warned Pakistan about serious…
