By Staff Reporter
ISLAMABAD: Pakistan’s central bank warned on Friday that the country’s banking sector faces a number of challenges as the economy slows down and borrowers struggle to repay their debts.
top-economy
UAE eyes renewable energy investment in Pakistan, offers oil and gas supplies
By Staff Reporter
ISLAMABAD: The United Arab Emirates (UAE) wants to invest in Pakistan’s renewable energy sector and is also interested in its conventional energy sources, a senior UAE official said on Thursday.
Pakistan’s public debt soars 32pc to Rs58.962 trillion
By Staff Reporter
KARACHI: Pakistan’s public debt surged 32 percent to Rs58.962 trillion in the year to May, central bank data showed on Wednesday, as the government borrowed heavily to finance its fiscal deficit and cope with a weakening currency
Pakistan pays Rs142 billion to IPPs to ease circular debt
By Staff Reporter
ISLAMABAD: Pakistan paid Rs142 billion to more than 100 independent power producers to settle some overdue bills and ease the burden of the power sector’s circular debt, the energy ministry said on Wednesday.
Pakistan faces power crisis as forex crunch hits fuel imports
By Staff Reporter
ISLAMABAD: Pakistan is struggling to keep the lights on as a foreign-exchange crunch limits its ability to import fuel for power generation, a senior official said.
IMF’s $3 billion bailout for Pakistan hinges on nine key reforms
By Staff Reporter
Pakistan has agreed to nine key reforms as part of a $3 billion stand-by arrangement with the International Monetary Fund, local media reported on Tuesday.
IMF deal sparks biggest single-day gain in stocks history
By Staff Reporter
KARACHI: Pakistan’s main stock index surged to a record single-day trade on Monday after the country secured a $3 billion stand-by arrangement from the International Monetary Fund (IMF) to support its dollar-starved economy.
Pakistan’s dollar-bonds rally after IMF deal
Barclays upgraded its outlook on Pakistan’s sovereign-dollar bonds to ‘market weight’ from ‘underweight’, and recommended buying the 2025, 2026, 2027 and 2031 maturities.
Inflation falls to seven-month low of 29.4pc in June after rate hike, fuel cuts
By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 29.40 percent in June, the lowest level in seven months, as record-high interest rates and lower fuel prices curbed consumer demand and commodity costs, official data showed on Monday.
IMF rescue package sparks historic surge in Pakistan stocks
The benchmark KSE-100 index jumped 5.5 percent or 2,269 points in less than 10 minutes of its opening, breaching the 5 percent movement barrier that triggers a suspension of trading for an hour.