Pakistans
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Moody’s upgrades Pakistan’s ratings to ‘Caa2’ on improved economic outlook
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[ad_1] Signage is seen outside the Moody’s Corporation headquarters in Manhattan, New York, US, November 12, 2021. — AFP/File Taking into account the recent improvement in macroeconomic conditions, global credit rating agency Moody’s Ratings on Wednesday upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. “We have also…
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Moody’s raises Pakistan’s ratings to caa2, reflecting better outlook | The Express Tribune
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[ad_1] Moody’s Ratings has upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from CAA3 to CAA2, while changing the country’s outlook from stable to positive. This decision reflects the country’s improving macroeconomic conditions and moderately better government liquidity and external positions, despite remaining challenges. The upgrade to CAA2 signifies a reduction…
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Pakistan’s oil output drops by 25% in 10 years: PPIS | The Express Tribune
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[ad_1] Listen to article Crude oil production in Pakistan decreased from 94,500 barrels per day in 2015 to 70,500 barrels per day in 2024, according to the Pakistan Petroleum Information Service (PPIS). Gas production also saw a significant decline, dropping by 900 million cubic feet per day (MMCFD) over the same period. In 2015, Pakistan’s daily gas…
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SIFC initiatives boost Pakistan’s exports to $30.64 billion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan achieved a remarkable boost in its exports during the fiscal year 2023-2024, driven by the efforts of the Special Investment Facilitation Council (SIFC), according to data released by the Pakistan Bureau of Statistics (PBS), The country’s export of goods soared by 10.54%, reaching $30.64 billion, compared to the previous year. While exports…
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Capacity charges are just the tip of Pakistan’s power sector iceberg | The Express Tribune
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[ad_1] Pakistan’s power sector woes are a hot topic, often attributed to capacity charges as the primary cause of circular debt and high electricity costs. However, the reality is far more complex. The public’s lack of exposure to the true causes makes it challenging to convey the consequences of our cumulative failures in power sector…
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IMF identifies ‘loopholes’ in Pakistan’s failure to boost exports | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) has pinpointed several loopholes in Pakistan’s export strategy, attributing them to the country’s inability to boost its exports, according to media reports. In a report submitted to the Pakistani government, the IMF highlighted significant weaknesses in Pakistan’s trade performance. Key issues identified include restrictions on payments, obstacles in imports,…
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Finance minister briefs Fitch Ratings on Pakistan’s IMF agreement, economic reforms | The Express Tribune
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[ad_1] On Monday, Finance Minister Muhammad Aurangzeb updated Fitch Ratings representatives about Pakistan’s recent Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) and outlined various measures aimed at bolstering the economy. The briefing, conducted via Zoom, underscored the positive effects of the nine-month Stand By Agreement with the IMF on Pakistan’s macroeconomic health. Earlier…
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Capacity charges driving up Pakistan’s electricity costs | The Express Tribune
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[ad_1] The escalating electricity costs in Pakistan are largely attributed to capacity charges, with 22 government-owned companies accounting for a substantial 48% of these charges. In the past three months alone, these companies have received a staggering Rs169.36 billion in capacity charges, according to sources. This financial allocation continues despite many of these power plants…
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IMF agreement boosts Pakistan’s funding prospects: Moody’s | The Express Tribune
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[ad_1] PAKISTAN: Global rating agency Moody’s on Tuesday said that Pakistan’s staff-level agreement with the International Monetary Fund (IMF) has improved the funding prospects, but the ability to sustain reforms is key to easing liquidity risks. In a press release, Moody’s stresses that Pakistan’s success depends on its ability to sustain key reforms to mitigate liquidity…
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Pakistan’s agriculture exports reach record $8 billion | The Express Tribune
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[ad_1] Pakistan has achieved a significant milestone in agricultural sector with agro-exports reaching an unprecedented 8 billion US dollars mark for the first time in previous fiscal year from July 2023 to June 2024, Pakistani Commerce Minister Jam Kamal Khan said Saturday. The achievement underscores the collective efforts of traders, farmers, the Trade Development Authority…
