Pakistan
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IMF wants Pakistan to hike interest rates | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Wednesday said that Pakistan needed to further increase interest rates to stabilise inflation –- a policy advice that is not in line with the ground realities and has instead significantly increased the country’s debt burden. The global lender has released its regional economic outlook for the Middle…
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Pakistan taking measures for ‘swift’ economic stabilisation: ADB
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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 Asian Development Bank (ADB) President Masatsugu Asakawa said Tuesday that Pakistan was taking ‘quick’ required stabilisation measures by containing spending, enhancing tax revenues and improving the financial sustainability of the energy sector. Addressing a…
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Pakistan inflation soars past Sri Lanka’s amid weakening rupee | The Express Tribune
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[ad_1] Pakistan’s inflation rate has outpaced Sri Lanka’s, becoming the fastest in Asia, as the rupee’s 20% drop against the dollar this year and rising food and energy costs drive up consumer prices. According to a report published in Bloomberg on Tuesday, consumer prices surged 36.4% in April compared to the previous year, the highest…
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Is Pakistan oblivious to competitors? | The Express Tribune
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[ad_1] ISLAMABAD: The China-Pakistan Economic Corridor (CPEC) is a dream project that many countries aspire to have. It possesses all the necessary components to propel any nation towards rapid economic growth, development, and diversification. CPEC encompasses various areas of cooperation that hold importance for Pakistan. To benefit from CPEC, it is imperative to implement the…
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ENI earned $500 million after reneging on Pakistan deal: report
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[ad_1] A logo of the ENI company is displayed outside its office in Milan. — AFP/File As international prices spiked and Pakistan faced an energy crisis, one of its long-term liquified natural gas (LNG) suppliers ENI earned $500 million by partially backtracking on contractual obligations and selling the cargoes to Turkey instead. The Italian company…
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Tech helping to build new millionaires across Pakistan | The Express Tribune
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[ad_1] KARACHI: In Pakistan, technology is playing a crucial role in bridging the gap and empowering young individuals from poor pockets of society to create better livelihoods for themselves. Innovative solutions are providing these youths with tools and skills to overcome challenges and build a brighter future. Have you ever imagined that the kid who…
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Pakistan received highest funding in 2022: ADB | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank (ADB) has claimed that Pakistan is the only Asian country that received the highest funding last year. The bank said that floods damaged the economy, especially the crops which created an imbalance of supply and demand and increased inflation. According to the annual report released by the ADB, Pakistan…
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Pakistan meets all IMF conditions: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Finance Ishaq Dar has claimed that Pakistan has met all the conditions set by the International Monetary Fund (IMF) for a staff-level agreement and that the lender’s mission for review will soon get a staff-level agreement approved by the fund’s executive board. “The IMF will soon sign the staff level…
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Ishaq Dar hopes IMF will soon sign deal with Pakistan as ‘all conditions fulfiled’
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP ISLAMABAD: Finance Minister Ishaq Dar on Monday said that Saudi Arabia and United Arab Emirates (UAE) have assured their commitments to provide $3 billion to Pakistan, hoping that the inflation-stricken country will soon seal the deal with the International…
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Pakistan places first order for discounted Russian crude oil
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[ad_1] State Minister Musadik Malik addressing a press conference in Islamabad after Russia visit on December 5, 2022. — PID ISLAMABAD: State Minister for Petroleum Musadik Malik has confirmed that Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow. The development comes months after Pakistan approached…
