By Staff Reporter
Islamabad: Prime Minister Shehbaz Sharif held talks with the International Monetary Fund (IMF) chief Kristalina Georgieva to break the deadlock over ninth review for the release of the next tranche of funding under an Extended Fund Facility (EFF).
By Staff Reporter
KARACHI: Pakistan foreign currency reserves are falling fast despite government’s tightening of access to dollars, hitting the lowest level since mid 2014 during the week ended on December 30, 2022 as the country struggles to meet external financing needs.
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.
A briefing paper released at the presser demolishes the PTI’s white paper by exposing claims made in it as barefaced lies designed to extract political advantage from economic hardship brought in by the party’s own misrule. By Muhammad Ali.
By Staff Reporter
ISLAMABAD: The government on Tuesday allowed another 150,000 tonnes of sugar export, bringing the total to 250,000 tonnes so far this year, as it seeks to generate foreign exchange for its dried coffers.
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.
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.
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.
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.
By Staff Reporter
KARACHI: Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics.
