By Staff Reporter
ISLAMABAD: China has rolled over a $600 million loan to Pakistan, boosting the country’s foreign exchange reserves as it seeks to stabilise its economy under an International Monetary Fund (IMF) program.
top-economy
Pakistan Refinery, Air Link to buy Shell Pakistan’s stake
By Staff Reporter
ISLAMABAD: Pakistan Refinery Limited (PRL) and Air Link Communication, a smartphone distributor and manufacturer, said on Monday they would jointly acquire the majority stake of Shell Pakistan Limited (SPL), as the oil giant exits the country amid a financial crisis.
Petrol price down by Rs9, diesel by Rs7
By Staff Reporter
ISLAMABAD: The government reduced the prices of gasoline and diesel for the next two weeks, citing the appreciation of the local currency and lower international oil prices.
Pakistan’s new IMF loan to anchor economic stabilisation – official
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.
Pakistan gets $1.2 billion IMF boost as reserves rebound
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.
Pakistan seeks more Russian oil after first discounted deal
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.
PM Sharif hopeful of $3 billion IMF loan approval today
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.
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.
EU considers GSP+ extension to Pakistan amid human rights scrutiny
By Staff Reporter
ISLAMABAD: The European Union has proposed to extend Pakistan’s preferential trade status for another four years, the EU envoy to Pakistan said on Sunday, as the South Asian nation faces scrutiny over its human rights record.
Pakistan’s middle-class hits back at government’s tax hike
A campaign, called “Save the Salaried Class”, has sent a letter to Finance Minister Ishaq Dar, urging him to reconsider the tax measures and provide relief to the salaried class by restoring deductible allowances and tax credits.