By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif expressed optimism on Wednesday that the International Monetary Fund (IMF) executive board would approve a $3 billion loan program, a lifeline for its struggling economy, later today.
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Four soldiers killed in militant attack on army base in southwestern Pakistan
By Staff Reporter
ISLAMABAD: Suspected Islamist militants attacked a Pakistani army base in the southwestern Balochistan province early Wednesday, killing four soldiers and wounding five others in a brazen assault that highlighted the security challenges facing the country.
PM Sharif says government to end on Aug 14, election date up to regulator
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday his coalition government would complete its term on August 14 and the election regulator would decide whether to hold polls in October or November.
Pakistan drops two state-owned firms from privatization list
By Staff Reporter
ISLAMABAD: Pakistan has removed two state-owned engineering companies from its active list of privatizations, citing unresolved legal and financial issues.
Car sales crash 82pc in June
By Staff Reporter
KARACHI: Pakistan’s car sales plummeted 82 percent in June from a year earlier, hit by non-production days, soaring prices and weak demand, industry data showed on Tuesday, but they rose slightly from the previous month.
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Pakistan greenlights billions in public spending largely focused on alternative energy
A high-powered executive panel approved more than half a trillion rupees in development spending, although not all of it will come from the current year’s budget. By Muhammad Ali.
Saudi Arabia deposits $2 billion in Pakistan’s central bank ahead on IMF loan approval
By Staff Reporter
ISLAMABAD: Pakistan received a $2 billion deposit from Saudi Arabia on Tuesday, a day before the International Monetary Fund’s (IMF) board is expected to approve a $3 billion lifeline loan for the country’s struggling economy.
Fitch rating upgrade a thumbs up for Pakistan
The global rating agency’s move is an acknowledgement of the government’s hard work in recent months to turn around the country’s ramshackle economy. By Muhammad Ali.
Remittances down 13.6 percent YOY
The mess created by the unchecked slide of the rupee keeps taking its toll on Pakistan’s economy in more ways than can be counted. By Muhammad Ali.
Why is Pakistan’s SBA still not on IMF executive board agenda?
A staff-level agreement has been inked for the $3 billion bailout, but the unnecessary uncertainty over the executive board’s approval is hurting Pakistan’s beleaguered economy. By Muhammad Ali.