KARACHI: The foreign-exchange reserves held by the central bank surged by more than $1.3 billion in a single week to the highest level in almost four years, bolstered by a fresh disbursement from the International Monetary Fund.
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Freight transporters end 10-day strike after govt concedes on fines, axle loads
KARACHI: The goods transporters called off a nationwide strike that lasted 10 days and threatened to inflict $1 billion in economic damage, after clinching concessions from federal and provincial authorities on fines, axle loads and other regulatory hurdles.
Pakistan posts $100 million current account surplus in November on falling imports
KARACHI: Pakistan’s current account swung to a surplus of $100 million in November, the central bank said, as a drop in imports helped counter weaker exports and remittances.
Pakistan pushes for Russian oil deal to cut import costs, diversify supply
KARACHI: Russia and Pakistan are negotiating a potential agreement in the oil sector that could expand cooperation in exploration, production and refining, as Islamabad pushes to cut import costs and Moscow hunts for new markets amid Western sanctions.
Pakistan seeks GCC trade and capital as IMF-backed stabilisation takes hold
ISLAMABAD: Pakistan is ditching its reliance on foreign aid in favor of deeper trade and investment ties, particularly with Gulf Cooperation Council nations, as the South Asian economy stabilises after a bruising period of high inflation and external pressures, Finance Minister Muhammad Aurangzeb said.
Pakistan denies IMF imposes new conditions, calls measures “phased reform agenda”
ISLAMABAD: The finance ministry pushed back against reports of tough new conditions tied to its bailout program with the International Monetary Fund, insisting that a slate of 11 fresh targets represents “continuity, sequencing, and deepening of Pakistan’s agreed reform agenda” rather than the “imposition of abrupt or unprecedented conditions.”
Pakistan inks deal with Binance to explore $2 billion asset tokenization
ISLAMABAD: Pakistan signed a memorandum of understanding with crypto exchange Binance to explore tokenizing up to $2 billion in sovereign bonds, treasury bills and commodity reserves, a move aimed at boosting liquidity and drawing international investors amid a broader push into digital assets.
Pakistan agrees to tougher tax measures, SOE reforms and mine more IMF conditions to keep bailout on track
KARACHI: Pakistan agreed to 11 new structural benchmarks with the International Monetary Fund, including fresh tax measures and spending cuts, after missing a raft of targets under its $7 billion bailout program, paving the way for a $1.2 billion disbursement.
IMF releases $1.2 billion tranche to Pakistan, lifting FX reserves
KARACHI: Pakistan received $1.2 billion from the International Monetary Fund after the lender approved reviews of the South Asian nation’s bailout programs, providing a boost to its foreign reserves amid efforts to stabilise the economy.
ADB upgrades Pakistan growth outlook on less severe flood impact
KARACHI: The Asian Development Bank boosted its economic growth forecast for Pakistan in the current fiscal year, citing a milder-than-expected hit from flooding, stepped-up public investment and cooling inflation.