Sovereign Wealth Fund hits legal snags | The Express Tribune
ISLAMABAD: Pakistan’s plans to sell stakes of its profitable energy companies to the United Arab Emirates (UAE) through the Pakistan Sovereign Wealth Fund (PSWF) have hit snags, as the government admitted on Tuesday that there was a lot of confusion and overlapping about the wealth fund. “There are many confusions in the law [Sovereign Wealth […]
PSO to fund $1.5-2 billion investment with debt | The Express Tribune
KARACHI: Pakistan State Oil (PSO) has announced plans to raise foreign debt to finance a significant portion of its planned $1.5-2 billion investment in Pakistan Refinery Limited (PRL). Meanwhile, its receivables have surged to Rs810 billion, largely due to circular debt, including late payment surcharges. At an analyst briefing on the financial accounts for the […]
REIT fund seeks Rs403m investment via IPO | The Express Tribune
KARACHI: TPL Real Estate Investment Trust (REIT) Fund-I is scheduled to offer a minimum of 1.25% (22.94 million) units at Rs17.59 per unit to the general public with the aim of raising Rs403 million in the ongoing week at the Pakistan Stock Exchange (PSX). Fund runners may opt for selling an additional 1.22% (22.39 million) […]
Saudi Arabia desperately looking for investors to fund Neom ‘The Line’ project
The Line turns into a dot as Saudi cuts back project by 98.6%. — Parametric Architecture/File Saudi Arabia is facing difficulties in funding its $500 billion Neom megaproject, which features “The Line” city, Business Insider reported. And now for the first time since its construction which started in 2017, it has invited potential investors to […]
Pakistan to discuss Extended Fund Facility with IMF next month | The Express Tribune
ISLAMABAD: The matter of an Extended Fund Facility (EFF) with the International Monetary Fund (IMF) will be discussed in Washington next month, Finance Minister Muhammad Aurangzeb said on Friday, as the country looks to alleviate a full-scale economic crisis. The standby $3 billion arrangement with the global lender expires on April 11, and the two […]
UAE fund plans $4-5b investments in India | The Express Tribune
MUMBAI: Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi’s home state of Gujarat, according to two sources with direct knowledge of the matter. The regulatory authority for financial services […]
Hajj Fund: enabling savings with economic development | The Express Tribune
KARACHI: Hajj is the fifth pillar of Islam and is considered obligatory for every Muslim, once in a lifetime, who can afford expenses of the journey and has the required physical strength. Hajj is considered a physically and economically demanding journey that requires proper planning. At the societal level, Hajj not only builds up the […]
Americans still eligible to receive $3,284 Permanent Fund Dividend cheques — Here’s what to do?
The logo of Alaska Permanent Fund Dividend (PFD). — PFD Alaska residents are still getting their 2022 Permanent Fund Dividend (PFD), in the form of a $3,284 cheque after the deadline expired on March 31, officials said on Thursday. You must have resided in Alaska for the whole calendar year prior to the date you […]
After 13-year hiatus, Pakistan to get USAID fund for development
Economic Affairs Division Secretary Dr Kazim Niaz and USAID Mission Director to Pakistan Reed Aeschliman signed a new five-year bilateral on June 7, Wednesday. — Twitter/eadgop The United States Agency for International Development (USAID) on Wednesday announced $445.6 million in grant to support socio-economic development in Pakistan. Economic Affairs Division Secretary Dr Kazim Niaz and […]
Bill tabled in parliament seeking approval for election fund
The government Monday tabled a bill regarding elections expenditures in both houses — National Assembly and Senate — of the parliament as it informed the legislature about the repercussions of holding the election in Punjab earlier. Federal Minister for Finance and Revenue Ishaq Dar Monday tabled a bill pertaining to funds for general elections in […]