By Staff Reporter
ISLAMABAD: Pakistan’s electricity regulator approved a 20 percent hike in the base power tariff for the fiscal year starting July 1, as the South Asian nation implements reforms agreed with the International Monetary Fund in the recently approved $3 billion loan program.
By Staff Reporter
ISLAMABAD: Pakistan secured $5.6 billion in additional financing from bilateral and multilateral partners after getting a $3 billion loan from the International Monetary Fund (IMF), the fund’s mission chief said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s new $3 billion loan program from the International Monetary Fund (IMF) will anchor its immediate efforts to stabilize the economy and meet its balance of payments needs, a senior IMF official said.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said he will hand over power to a caretaker government in August, paving the way for national elections that could end the political turmoil that has gripped the country since the ouster of his predecessor Imran Khan last year.
By Staff Reporter
ISLAMABAD: The World Bank approved a $100 million program to increase the use of family planning services in Punjab, Pakistan’s most populous province, as part of its efforts to reduce poverty and improve human capital.
By Staff Reporter
ISLAMABAD: Pakistan’s large-scale manufacturing (LSM) sector contracted 14.37 percent in May, its 11th consecutive monthly decline, as high costs, currency devaluation and political turmoil weighed on the industry, official data showed on Thursday.
By Staff Reporter
Pakistan received $1.2 billion from the International Monetary Fund as part of a nine-month bailout program, boosting its foreign-exchange reserves and easing pressure on its currency.
By Staff Reporter
ISLAMABAD: Pakistan is in talks to buy a second shipment of discounted Russian crude oil, its petroleum minister said on Wednesday, as the cash-strapped nation seeks to diversify its energy sources and save on foreign exchange reserves.
By Staff Reporter
ISLAMABAD: Pakistan received a $1 billion deposit from the United Arab Emirates, the second inflow of funds from a friendly nation in two days, as it seeks to shore up its dwindling foreign exchange reserves.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) executive board approved on Wednesday a new $3 billion loan for Pakistan to support its economic stabilization program, and released about $1.2 billion immediately, the IMF and the Pakistani government said.
