By Staff Reporter
ISLAMABAD: The government plans to raise much needed millions of dollar in debt via an Islamic sukuk bond later this calander year amid growing concerns about the country’s dwindling foreign currency reserves.
top-economy
Dollar’s onslaught against Rupee gets ugly
By Staff Reporter
KARACHI: In spite of the tough calls made by the coalition government to put Pakistan’s beleaguered economy back on the rails, the US dollar continued its ascent against the rupee Monday, rising above PKR 210 against the local currency during early morning trade in the interbank market.
Breakthrough Expected: Pakistan in last-ditch talks to cut a deal with IMF
By Staff Reporter
ISLAMABAD: In a last-ditch bid to iron out differences over budgetary numbers, Pakistan and IMF officials butted heads through Friday evening to reach a middle-ground amid expectations of a “breakthrough” within next 72 hours.
CPEC Power: IMF denies demanding revising IPPs contracts
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) on Thursday distanced itself from reports suggesting the fund seeks agreements struck with the power plants, built under the China Pakistan Economic Corridor (CPEC), revised.
Book Published: Planning ministry still trying to add new projects to PSDP list
By Staff Reporter
ISLAMABAD: Despite the official book having been already published, the Ministry of Planning is still making last-ditch efforts to include around 60 development projects in the Public Sector Development Program (PSDP) for the next budget 2022-23, the IP learned on Wednesday.
Bailout Blues: IMF rejects budgetary measures as not enough
By Staff Reporter
ISLAMABAD: Pakistan will have to ‘do more’ to align the Budget 2022-23 with IMF’s requisites for the resumption of Extended Fund Facility (EFF) programme, a top fund official said on Monday.
Rupee Devaluation: Govt needs Rs165.2bn to pay foreign loans in FY22
By Staff Reporter
ISLAMABAD: The government direly needs Rs165.2 billion for servicing foreign loans during the outgoing fiscal year as the rupee has slumped to record low against the dollar.
Markets smile, households groan over soaring energy prices
By Staff Reporter
ISLAMABAD: The markets may have responded rather well to the government’s recent moves to put a stalled International Monetary Fund (IMF) bailout back on track, but households are staggering under the enormous burden of inflation brought on by successive hikes in energy prices.
Moody’s downgrades Pakistan’s outlook to ‘negative’ from ‘stable’
By Staff Reporter
KARACHI: Rating agency Moody’s Investors Service downgraded Pakistan outlook to negative from stable on Thursday, citing higher fiscal risks due to a delay in the revival of International Monetary Fund’s bailout programme
Inflation soars in May
By Staff Reporter
ISLAMABAD: Consumer inflation jumped to over 2-year high of 13.76 percent in May fuelled by rising energy and food rates as high prices of imported fuels compounds the impact of the rupee’s plunge this year, , official data showed.