By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to slow significantly in the current fiscal year, ending June 30, 2023, in the wake of last year’s devastating floods, ballooning inflation, a current account deficit, and an ongoing foreign exchange crisis, the Asian Development Bank (ADB) said on Tuesday.
By Staff Reporter
ISLAMABAD: Pakistan is facing an economic crisis amidst a deepening judicial crisis and increasing political uncertainty. The scheduled verdict for holding elections in Punjab and KP provinces today has all eyes on the top court of Pakistan, the issue of Pakistan’s ailing economy remains the least interesting topic among those who really matter in the country.
By Staff Reporter
ISLAMABAD: Exports fell in March year-on-year for the sixth month in a row, hit by a cooling global economy and a persistent slump in industrial activities in the country, data showed on Monday.
By Staff Reporter
ISLAMABAD: Inflation in Pakistan jumped in March to its highest in almost six decades, driven by skyrocketing food and fuel prices, statistics bureau data showed on Saturday, putting pressure on the central bank to hike rate aggressively at a meeting due next week and to keep tightening policy in the months ahead.
By Staff Reporter
ISLAMABAD: Rupee devaluation and rising energy prices are likely to push up consumer prices in the near term that are already sky high, the finance ministry warned on Friday.
News Desk
ISLAMABAD: China is working on a request from cash-strapped Pakistan to roll over a $2-billion loan that matured last week amid a stalemate in bailout talks with the International Monetary Fund (IMF), Reuters reported on Thursday.
By Staff Reporter
ISLAMABAD: The European Union has removed Pakistan from its ‘list of high-risk third countries’, a move welcomed by Prime Minister Shehbaz Sharif as a major development that would facilitate the country’s businesses.
By Staff Reporter
ISLAMABAD: Finance minister Ishaq Dar held talks with the top United Arab Emirates diplomat in Pakistan on Wednesday to seeks external financing commitment — a key IMF condition for release of stuck-up bailout loan — from the friendly county.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has tasked Pakistan to secure financing assurances from other multilateral institutions and friendly countries to unlock a $6.5 billion loan programme to avoid a default.
Monitoring Desk
ISLAMABAD: The International Monetary Fund (IMF) said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support, Bloomberg reported on Tuesday.
