Pakistan
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Ishaq Dar asserts Pakistan will not default even without IMF deal
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[ad_1] Minister for Finance and Revenue Ishaq Dar chairs a meeting of the Economic Coordination Committee on May 10, 2023. — Twitter Days after Moody’s International Service warned of the possibility that Pakistan could default, Finance Minister Ishaq Dar rubbished what he termed as “rumours” on Thursday. Addressing the Islamabad Security Dialogue, he asserted that…
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Gold price drops in Pakistan by more than Rs2,000 per tola
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[ad_1] Gold rate Thursday dropped by more than Rs2,000 in Pakistan a day after reaching an all-time high, with market experts terming the fluctuations in the international market as the reason behind today’s fall. The rate of gold (24 carats) decreased by Rs2,700 per tola and Rs2,314 per 10 grams to reach Rs237,300 and Rs203,447,…
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Germany announces €163m aid for Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: German Parliamentary Minister for Economic Affairs Niels Annen on Tuesday announced economic assistance worth 163 million euros for Pakistan. He made this announcement during his meeting with Economic Affairs Minister Sardar Ayaz Sadiq, saying the assistance would be given in lieu of three to five years development projects. According to the press release,…
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Petrol subsidy: Pakistan ‘determined’ to address IMF concerns
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[ad_1] Pakistan aims to address the International Monetary Fund’s (IMF) concerns about a proposed fuel subsidy plan prior to its implementation, in a bid to revive a stalled loan programme that is crucial for the country’s economic stability, Bloomberg reported Tuesday. The international lender had some reservations about the government’s plan to raise fuel prices…
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Gold rate in Pakistan jumps to all-time high amid political uncertainty
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File As investors’ attention shifted to the safe-haven bullion due to the political uncertainty that ensued after the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, gold prices in Pakistan surged to another all-time high Tuesday. The rate of gold (24 carats)…
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Moody’s warns Pakistan could default without IMF bailout | The Express Tribune
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[ad_1] Moody’s Investors Service warned that Pakistan could default without an International Monetary Fund (IMF) bailout as the country faces uncertain financing options beyond June, reported Bloomberg on Tuesday. “We consider that Pakistan will meet its external payments for the remainder of this fiscal year ending in June,” Grace Lim, a sovereign analyst with the…
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Fear of floods: ADB vows to help Pakistan build climate-resilient infrastructure
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[ad_1] Staff members of the Asian Development Bank step out of the Manila-based lender’s headquarters on February 17, 2009. — AFP/File Amid fears of flooding in the coming months, the Asian Development Bank (ADB) expressed commitment to help build the much-needed climate-resilient infrastructure for Pakistan — which faced around $30 billion in losses after the…
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Green hydrogen and Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The media recently reported signing of an MoU among five energy companies of Pakistan, mostly PSEs, for pursuing “green hydrogen” opportunities. Apparently, the step seems quite revolutionary, especially, when the given energy source is yet to secure any sizeable foothold in the energy mix of even the developed world and hydrogen and hydrogen-based…
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Iranian oil gains popularity in Pakistan amid soaring inflation
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[ad_1] A vendor waits for customers to buy petrol from his roadside setup in Lahore on January 14, 2023. — APP/File Iranian oil, which is being sold at considerably cheaper rates, has been gaining popularity in Pakistan in recent months amid record-high inflation and near-constant increases in fuel rates. The rise of Iranian oil imports…
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Pakistan bound to repay $3.7 billion in May-June: Fitch Ratings
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[ad_1] A representational image. — PNGfind.com As the government struggles to secure a bailout from the International Monetary Fund (IMF), Fitch Ratings on Friday revealed that Pakistan faces a total of $3.7 billion of debt payments in the May-June period, Bloomberg reported. Hong Kong-based director at Fitch, Krisjanis Krustins, said about $700 million of maturities are…
