By Staff Reporter
ISLAMABAD: The Asian Development Bank (ADB) has approved a $400 million concessional loan to support the reconstruction of flood-damaged houses and community infrastructure in Pakistan’s Sindh province.
Economy
Pakistan seeks China’s help on power sector reforms, debt restructuring
By Staff Reporter
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb arrived in Beijing on Thursday to discuss power sector structural reforms suggested by the International Monetary Fund (IMF) with his Chinese counterpart, local media reported on Friday.
Pakistan to end uniform fuel pricing, allows oil companies to set rates
By Staff Reporter
ISLAMABAD: The energy ministry is pushing ahead with plans to deregulate fuel prices, a move that has split the industry and sparked concerns among dealers.
Finance minister updates Moody’s on economic reforms, IMF deal
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb presented an optimistic outlook for the country’s economy in a virtual meeting with Moody’s Ratings representatives on Tuesday, citing robust foreign exchange reserves, stable inflation, and a surge in foreign remittances.
Pakistan delays PIA sale as bidders seek additional information
By Staff Reporter
ISLAMABAD: The government has received requests from pre-qualified bidders to delay the final offer for the state-owned Pakistan International Airlines (PIA), pushing back the planned completion of the process beyond the initially targeted date of August 14.
Pakistan’s economic reforms on track, finance minister tells Fitch Ratings
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb held a virtual meeting with Fitch Ratings on Monday, discussing the country’s economic performance and fiscal reforms, the ministry said.
Fixed tax scheme for retailers gets govt nod, notification expected soon
By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb has signed off on a fixed tax scheme for retailers, with an official notification expected to be issued shortly, a government official said on Monday.
Current account deficit shrinks 79pc to 13-year low in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s current account deficit plummeted to its lowest level in 13 years, fueled by a surge in exports and remittances from overseas workers, the central bank’s data showed on Friday.
SBP to cut key rate to 16pc in 2024, Fitch says
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to accelerate to 3.2 percent in the fiscal year 2024-2025, driven by monetary easing, improved agricultural output, and slowing inflation, a Fitch Ratings affiliate said on Wednesday.
Pakistan’s IMF deal boosts funding prospects, but reforms key, Moody’s says
By Staff Reporter
ISLAMABAD: Pakistan’s new International Monetary Fund (IMF) program will boost its funding prospects, but the government’s ability to implement reforms will be crucial to securing financing over the next three years, Moody’s Ratings said on Tuesday.