Pakistan
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PM claims Pakistan ‘ripe’ for market innovation to secure investment
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[ad_1] Prime Minister Shahbaz Sharif addresses Future Investment Initiative Summit in Riyadh, Saudi Arabia on October 25, 2022. — PID/File ISLAMABAD: Prime Minister Shahbaz Sharif Tuesday said Pakistan was ripe for market innovation as the new generation of Pakistani entrepreneurs was shying away from traditional businesses and turning their focus and energies to disruptive innovations. “I…
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Gold price surges to Rs148,400 per tola in Pakistan on high demand
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[ad_1] A representational image of gold bars. — AFP/File KARACHI: Gold continued to shine as it once again surpassed the psychological threshold of Rs148,000 per tola amid high demand in the domestic market on Tuesday. As per the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) the price of the precious metal rose by Rs700…
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Pakistan owes creditors Rs49,200 billion, says Dar | The Express Tribune
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[ad_1] ISLAMABAD: The total volume of debt on Pakistan has risen to Rs49,200 billion, the National Assembly was informed on Monday. Finance Minister Ishaq Dar said that on June 30, 2022 the domestic debt on the country was Rs31,000 billion while the external debt amounted to Rs18,160 billion. Earlier, a report of the finance ministry…
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Can Pakistan afford the EU reverting to dirty fuel? No | The Express Tribune
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[ad_1] KARACHI: With Western sanctions taking affect after Russia’s invasion of Ukraine in February this year, the US and EU nations have boycotted buying gas/RLNG from Russia. This, however, took gas prices skyrocketing to unaffordable levels in the global markets. At present, the world is in the tight grip of an energy crisis with recession…
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Reforms inevitable for economic recovery after floods, WB tells Pakistan
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[ad_1] World Bank Vice President for South Asia Martin Raiser. — Twitter/File World Bank Vice President for South Asia Martin Raiser said Sunday that Pakistan would have to introduce financial reforms to cope with the economic crisis being faced by the country after the cataclysmic floods caused by climate change. In an interview with Geo…
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Pakistan seeks $6.3b China debt rollover | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Saturday requested China to rollover its $6.3 billion debt that is maturing in next eight months as part of its overall plan to arrange $34 billion in the current fiscal year to meet its debt and external trade-related obligations. Another proposal was also under consideration to seek a fresh Chinese loan…
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US welcomes FATF decision to take Pakistan off grey list
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[ad_1] The United States encouraged Pakistan to continue its anti-money laundering and counterterrorism efforts after the Financial Action Task Force (FATF) removed it from the list of countries under an increased monitoring process, commonly known as the grey list. Welcoming the FATF decision to take Pakistan off the grey list, the US acknowledges the country’s…
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Pakistan finally out of FATF’s grey list after four years
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[ad_1] A view of the Financial Action Task Force (FATF) plenary meeting. — FATF Twitter PARIS: In a major development, the Financial Action Task Force (FATF), a global money-laundering and terrorism-financing watchdog, finally removed Pakistan from its grey list after four years. Addressing the FATF plenary meeting in Paris, the global body’s President Raja Kumar…
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ADB approves $1.5b in financing to help Pakistan amid devastating floods
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[ad_1] Staff members of the Asian Development Bank step out of the Manila-based lender’s headquarters. — AFP/File The Asian Development Bank (ADB) has approved $1.5 billion in financing to help Pakistan provide social protection, promote food security, and support employment for its people amid devastating floods and global supply chain disruptions, a statement issued by…
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Pakistan well-positioned to manage over $30b external financing in FY23: Dar
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[ad_1] Finance Minister Ishaq Dar addresses a press conference in Islamabad, on October 19, 2022. — YouTube/GeoNewsLive ISLAMABAD: Pakistan is well-positioned to manage around $34 billion in external financing in the fiscal year 2023, Finance Minister Ishaq Dar said Wednesday. In a conversation with journalists, he said: “The total (borrowing) requirement for the current fiscal…
