By Staff Reporter
ISLAMABAD: The Asian Development Bank approved a $320 million loan to upgrade rural roads in Pakistan’s Khyber Pakhtunkhwa province, enhancing connectivity and economic growth, a statement said on Friday.
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Veon nears sale of Pakistan towers to TPL-TASC Group: Bloomberg
Monitoring Desk
DUBAI: Wireless operator Veon Ltd. is close to selling its tower assets in Pakistan to a consortium comprised of Pakistan’s TPL Corp. and UAE-based TASC Towers Holding Ltd. in what could be the country’s largest deal in more than a decade, Bloomberg newswire reported on Friday.
IMF says policy commitments made by Pakistan to continue to apply
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said policy commitments made by Pakistan for the resumption of bailout package continue to apply.
‘Gas utilities face bankruptcy as subsidies bite’
By Staff Reporter
ISLAMABAD: The government gas utilities are facing financial collapse under growing liquidity pressures conjured by subsidies and circular debt, while no ‘understanding’ was in place to source cheap Russian gas, petroleum minister said on Monday.
Islamabad. Federal Finance Minister Miftah Ismail addressing an important press conference.
Pakistan drives up fuel prices to dodge default
Staff Reporter
ISLAMABAD: A default-threatened PML-N government took its most reluctant plunge and raised fuel prices to pave the way for an IMF bailout, ignoring the political cost of the move.
Former govt’s growth strategy on Sharif’s kill list
By Staff Reporter
ISLAMABAD: Three-Year Rolling Growth Strategy, a brainchild of the PTI government, evolved to reorient policies and incentive structures for the private sector, is on Shehbaz regime’s list.
SBP moves against inflation with 150bsp rate hike
By Staff Reporter
KARACHI: The central bank raised its benchmark interest rate by 150 basis points to 13.75 percent, the second hike in less than two months, to tame runaway inflation as policy makers try to win a bailout from the International Monetary Fund without meeting the politically tough condition of increasing fuel prices.
Import restrictions arrive to help balance budget
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif’s administration Thursday slapped a ban on luxury imports as a step towards balancing the country’s broken budget, demonstrating it means business when it comes to redressing the country’s festering economic woes.
IMF dictate: Govt to cut development funds in fiscal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s newly elected coalition government has reached a consensus that spending cuts in development projects in the next fiscal year are the best way to stabilise the country’s fragile finances hit by expensive energy imports.
5.97 pc GDP growth projected for current fiscal
By Staff Reporter
ISLAMABAD: As the end of Pakistan’s fiscal year nears and the budget making exercise gets into a higher gear, data on the performance of various sectors of Pakistan’s economy is trickling in and numbers are being crunched to piece together a clearer picture of national accounts.