By Staff Reporter
KARACHI: Pakistan faces a daunting task to secure a new loan from the International Monetary Fund as it grapples with political turmoil after a close election, Fitch Ratings warned on Monday.
Economy
Caretaker govt raises gas prices by 67pc to satisfy IMF
By Staff Reporter
ISLAMABAD: The caretaker government raised natural gas prices by up to 67% for some consumers on Thursday, meeting a key demand of the International Monetary Fund (IMF) before a review of its $3 billion bailout program.
Pakistan’s credit rating at risk amid political deadlock, Moody’s warns
By Staff Reporter
KARACHI: Pakistan’s credit rating outlook is clouded by the political uncertainty following the inconclusive elections that left no party with a clear majority, Moody’s Investors Service said on Wednesday.
IMF rejects Pakistan’s energy tariffs, circular debt plan
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) on Monday rejected Pakistan’s proposed plans to reduce its circular debt and rationalise its energy tariffs, saying they did not address the root causes of the sector’s problems and would hurt the poor.
Pakistan faces economic meltdown as top economist blasts rigged vote
By Staff Reporter
KARACHI: Pakistan’s economy is on the verge of collapse, with inflation soaring, growth stagnating, debt mounting, and investment dwindling, according to a globally renowned economist who criticized the recent elections as fraudulent and manipulated by the military establishment.
Pakistan’s dollar bonds drop most in 16 months as hung parliament looms
By Staff Reporter
KARACHI: Pakistan’s dollar bonds fell on Friday as the country awaited the outcome of a closely contested general election, with early results showing a tight race between the main political parties.
Independent candidates backed by jailed Khan ahead in Pakistan vote: media
By Staff Reporter
ISLAMABAD: Independent candidates backed by the party of Imran Khan, the jailed former prime minister, were leading in Pakistan’s general election on Friday, according to partial results reported by local media outlets, after an unusual delay in the vote count that led to accusations of vote rigging and manipulation.
Ex-central banker Baqir warns of debt crisis, urges new IMF deal
By Staff Reporter
KARACHI: Former central bank chief Reza Baqir said on Thursday that the new government that emerges from the ongoing elections will face tough economic challenges and will need to negotiate a new deal with the International Monetary Fund (IMF) to avoid a debt crisis.
Cabinet approves PIA restructuring plan
By Staff Reporter
The caretaker government approved a plan to restructure the loss-making national airline, Pakistan International Airlines Corp., paving the way for its privatization after the Feb. 8 election.
Election outcome to shape Pakistan’s credit outlook, S&P says
By Staff Reporter
ISLAMABAD: Pakistan’s hopes of securing higher credit ratings hinge on whether this week’s election produces a government that can push through tough reforms and secure more financing from the International Monetary Fund, S&P Global Ratings said.