By Staff Reporter
ISLAMABAD: Pakistan will likely secure an additional multibillion-dollar financial support package from long-time ally Saudi Arabia ‘within days’ to shore up its foreign currency reserves, the finance minister said on Wednesday.
top-economy
Pakistan plans early closure of markets, malls in energy austerity drive
By Staff reporter
ISLAMABAD: The coalition government of Prime Minister Shehbaz Sharif on Tuesday decided to ban wedding functions after 10 pm and shut markets across the country at 8.30 pm as part of a raft of measures under the energy conservation plan to save costs amid an ongoing economic crisis.
Stubbornly high fuel, food prices harden inflation in December
By Staff Reporter
ISLAMABAD: Consumer prices unexpectedly rose in December and underlying inflation accelerated amid rising costs for fuel and food, indicating that the central bank will keep borrowing cost elevated in its next monetary review.
No respite for battered Pakistan economy
By Staff Reporter
ISLAMABAD: Pakistan’s economic alarm bells are still ringing loudly with fear of a global recession, spiraling local inflation, shrinking growth and alarmingly low foreign currency, reserves stoking investor concerns over a possible economic emergency, missed targets with the International Monetary Fund (IMF) and political unrest.
“No other option” except implementing IMF deal, PM Sharif
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said his government has no option but to implement harsh measures under the ongoing International Monetary Fund (IMF) bailout programme.
SBP further eases import curbs
By Staff Reporter
KARACHI: The central bank said it will lift a seven-month long import ban on certain goods, including raw materials for export industry, from January 2, 2023.
CAREC Energy Outlook 2030
Study puts Pakistan’s energy investment needs thru 2030 at USD 155 billion
The CAREC Energy Outlook 2030 identifies generation rehabilitation, expansion, and energy efficiency measures on the consumption side as the top investment categories. By Staff Reporter.
SBP says economic growth seen slowing in 2023
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) said on Wednesday the expansion of the economy is seen cooling next year, with both internal and external challenges weighing on growth.
Pakistan signs five loan deals worth $775 million with ADB
By Staff Reporter
ISLAMABAD: Pakistan on Thursday signed five loans agreements worth $775 million for flood relief with the Asian Development Bank (ADB), the economic affairs ministry said, taking the total lending for the year to $2.7 billion with the agency.
IMF says having ‘productive’ talks with Pakistan as part of program review
By Staff Reporter
ISLAMABAD: The International Monetary Fund said it was having ‘productive’, ongoing discussions with Pakistan as part of a ninth program review of a $7 billion rescue package.