By Staff Reporter
ISLAMABAD: Pakistan received a $1 billion deposit from the United Arab Emirates, the second inflow of funds from a friendly nation in two days, as it seeks to shore up its dwindling foreign exchange reserves.
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IMF bailout secured, $3 billion to flow
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) executive board approved on Wednesday a new $3 billion loan for Pakistan to support its economic stabilization program, and released about $1.2 billion immediately, the IMF and the Pakistani government said.
PM Sharif hopeful of $3 billion IMF loan approval today
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif expressed optimism on Wednesday that the International Monetary Fund (IMF) executive board would approve a $3 billion loan program, a lifeline for its struggling economy, later today.
Pakistan approves new investment policy to lure foreign investors
By Staff Reporter
ISLAMABAD: Pakistan has approved a new investment policy for 2023 that aims to attract foreign and domestic investors by offering incentives, easing regulations, and creating special economic zones, the government said.
Pakistan’s middle-class hits back at government’s tax hike
A campaign, called “Save the Salaried Class”, has sent a letter to Finance Minister Ishaq Dar, urging him to reconsider the tax measures and provide relief to the salaried class by restoring deductible allowances and tax credits.
Pakistan’s banks face rising defaults, lower profits amid economic slump
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.
IMF seeks Pakistan political parties’ backing for $3 billion bailout
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) is reaching out to Pakistan’s main political parties, including the one led by ousted Prime Minister Imran Khan, to secure their support for a new $3 billion bailout program ahead of national elections.
SBP reserves rise by $393 million, helped by China refinancing
By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves held by the central bank rose by $393 million to $4.462 billion in the week ending June 30, helped by the receipt of official inflows and the refinancing of $1.3 billion in Chinese commercial loans.
Pakistan, Italy extend debt swap deal for development projects
By Staff Reporter
ISLAMABAD: Pakistan and Italy have agreed to extend a debt swap deal that allows Pakistan to use part of its debt to Italy for development projects, the two countries said on Thursday.
IMF confirms July 12 meeting on Pakistan’s $3 billion loan request
By Staff Reporter
ISLAMABAD: Pakistan’s $3 billion loan programme with the International Monetary Fund (IMF) will be reviewed by the lender’s Executive Board on July 12, local daily Business Recorder reported on Wednesday, quoting an IMF’s confirmation email to the media.