Pakistan
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Pakistan imports threatened as forex reserves hit eight-year low
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[ad_1] An undated image of the US dollar. — AFP/File KARACHI: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion held by commercial banks, the nation has $11.4 billion in reserves — enough to pay…
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Pakistan can avoid default only by entering IMF programme: Imran Khan
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[ad_1] Pakistan Tehreek-e-Insaf Chairman Imran Khan addresses his party workers via video link.— Twitter/@PTIofficial Castigating the economic policies of the coalition government, deposed prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has warned that Pakistan can avoid default only by entering into a programme with the International Monetary Fund (IMF). Before…
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Pakistan to ‘repay’ external debt on time
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[ad_1] A dealer counts US dollars at a currency exchange shop in Karachi. — AFP/File Pakistan will not default on its international obligations and the federal government will ensure timely external debt payments, Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha said Thursday. In conversation with journalists in Islamabad, the state minister…
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‘I can prove Pakistan won’t default’: Finmin Ishaq Dar
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[ad_1] Finance Minister Ishaq Dar. — Screengrab Finance Minister Ishaq Dar has once again made it clear that he can prove that Pakistan will not default and despite serious problems the country “will not approach Paris Club – a group of wealthy creditor nations. The finance czar’s statement came during his address at a ceremony…
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Gold climbs to new peak in Pakistan
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[ad_1] A representational image of gold jewellery. — AFP/File Gold has been on a rising spree for the last several weeks and kept hitting an all-time high. In line with the dominant trend, the price of gold climbed to a new peak of Rs182,700 per tola (11.66 gram) on Tuesday, after a jump of Rs4,500.…
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Miftah foresees default if Pakistan shuns IMF | The Express Tribune
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[ad_1] KARACHI: Former finance minister Miftah Ismail said on Monday that he fears default if Pakistan did not approach International Monetary Fund (IMF) at this crucial time. He expressed these views at a two-day global conference arranged by Economics and Management Sciences Department of NED University. He said, “We were safe for the first three…
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Pakistan gold near one-week peak on safe-haven buying
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File Gold rose to a hover near a one-week high on Monday as concerns over the depreciating rupee lifted bullion’s appeal as a safe haven and an inflation hedge. The prices of gold rose by Rs700 per tola and Rs600…
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PTI forms groups for economic, governance reforms in Pakistan: Fawad
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[ad_1] PTI Senior Vice President Fawad Chaudhry. — AFP/File Pakistan Tehreek-e-Insaf (PTI) has formed working groups to make fundamental reforms to fix the country’s economic and governance issues, the party’s Senior Vice President Fawad Chaudhry said on Monday. Taking to Twitter, Fawad said that the groups formed by the party include experts from Pakistan and…
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Gold price rises by Rs200 per tola in Pakistan
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[ad_1] An undated image of gold jewellery. —AFP/File Following a major decline posted a day earlier, gold prices in Pakistan were little changed on Saturday as market participants awaited economic data for further direction. The price of gold registered a slight increase of Rs200 per tola and Rs172 per 10 grams to settle at Rs177,500 and…
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Gold price retreats from all-time high in Pakistan
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[ad_1] An undated image of a woman holding gold bangles. — AFP/File Gold prices snapped their 12-day-long gaining streak on Friday as investors holding long positions took profits, however, the outlook remained bullish with rates hovering near a record peak. According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold plunged…
