Express
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SBP’s forex reserves rise to $4.3b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank rose by 12.7% on a week-on-week basis to $4.3 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 3, 2023, the SBP’s foreign currency reserves stood at $4,301 million, up by $487 million compared to $3,814.1 million…
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Afghan coal exports to Pakistan ‘doubled’ | The Express Tribune
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[ad_1] TORKHAM: According to a 2022 report by research group XCEPT, coal exports to Pakistan likely doubled under the Taliban government and earned Afghanistan $160 million in tax – three times what the previous administration was capable of. Pakistan has been hammered by the global energy crisis caused by the war in Ukraine at a…
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Dar assures IMF agreement in next few days | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that Pakistan is close to reaching an agreement with the International Monetary Fund (IMF). “I and my team are absolutely committed to completing this [IMF] programme to the best of our ability…We seem to be very close to signing a staff-level agreement hopefully in the next…
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Rs7.2tr added to debt from Jul-Jan | The Express Tribune
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[ad_1] ISLAMABAD: The coalition government has managed to add a net Rs7.2 trillion to the debt pile in only the first seven months of this fiscal year – an average of Rs34 billion per day. The accumulation of debt is now nearly three times more than the gap between federal income and expenditures. The State…
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Pakistan, China sign agri-cooperation DoU | The Express Tribune
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[ad_1] ISLAMABAD: In a move to promote strategic cooperation between China and Pakistan in industry-university research on modern agriculture, documents of understanding (DoU) were signed by the National University of Sciences and Technology (NUST), Weifang Engineering Vocational College, Qingzhou Municipal Government and Weifang National Comprehensive Pilot Agriculture Zone at Weifang last week. The four sides…
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IT capabilities showcased in Denmark, Sweden | The Express Tribune
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[ad_1] KARACHI: The Pakistan Software Export Board (PSEB), in collaboration with the Pakistan Embassy in Copenhagen, has organised the visit of an IT Trade Delegation to Denmark and Sweden from March 6 to March 10, 2023. The delegation comprises of 25 of Pakistan’s top IT companies from various domains, including artificial intelligence (AI), internet of…
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BRI helped lift millions out of poverty: Chinese FM | The Express Tribune
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[ad_1] BEIJING: China’s Foreign Minister Qin Gang on Tuesday reiterated that the Belt and Road Initiative (BRI) was a high-quality public good initiated by Beijing, “built by the parties involved, and shared by the world”, with over three-quarters of countries across the globe and 32 international organisations having joined it already. In his first appearance…
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IMF seeks financing guarantees | The Express Tribune
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[ad_1] KARACHI: Pakistan will be required to give an assurance that its balance of payments deficit is fully financed for the fiscal year ending in June to unlock the next tranche of IMF funding, the fund’s resident representative said on Monday. The International Monetary Fund has been negotiating with Islamabad since early last month to…
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Does international financing truly benefit Pakistan? | The Express Tribune
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[ad_1] ISLAMABAD: International Financial Institutions (IFIs) never shy away from dictating terms that enable them to skilfully debt trap vulnerable economies – all under the guise of reforms and financial assistance. IFIs use local and international consultants to lure countries into following IFI prescriptions to achieve ‘sustainable development’. Once a country is trapped in its…
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Importance of e-commerce for Pakistan’s growth | The Express Tribune
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[ad_1] KARACHI: The e-commerce sector in Pakistan has achieved significant growth over the past few years, thanks to the increasing internet and smartphone penetration. According to a report of eMarketer, Pakistan’s e-commerce sales are projected to reach $2.1 billion by 2023, up from $1.2 billion in 2018. This article will explore the state of e-commerce…
