By Staff Reporter
KARACHI: Norway’s Telenor Group said on Thursday it had agreed to sell its Pakistan telecoms business to Pakistan Telecommunications Company Ltd (PTCL) for 5.3 billion Norwegian crowns ($500 million) as part of its strategy to focus on core Asian markets.
By Staff Reporter
KARACHI: Pakistan’s public debt has risen to almost 80 percent of gross domestic product, limiting the country’s ability to recover from the inflation-induced slowdown, the Asian Development Bank said on Wednesday.
The Saudi energy giant’s entry into the Pakistani fuel retail market is a milestone for the company as well as the host country. By Muhammad Ali.
The MPC believes the current monetary policy stance is appropriate to achieve the inflation target of 5-7 percent by the end of FY25, although this assessment is contingent upon continued fiscal consolidation and timely realisation of planned external inflows. By Muhammad Ali.
By Staff Reporter
KARACHI: Pakistan’s first auction of a one-year listed domestic sukuk, or Islamic bond, was oversubscribed by more than 15 times on Friday, as retail investors flocked to the sharia-compliant debt instrument that offers a higher return than conventional bonds.
By Staff Reporter
KARACHI: Former finance minister Shaukat Tarin said on Friday he was quitting politics for good, citing health and financial reasons, in a latest blow to Pakistan Tahreek-e-Insaf (PTI) party that has faced a wave of defections and arrests.
By Staff Reporter
KARACHI: The World Health Organization on Thursday issued an alert about several contaminated syrups and suspension medicines manufactured by a Pakistani company that have been found in countries in the WHO regions.
By Staff Reporter
KARACHI: Pakistan secured a date for the final approval from the International Monetary Fund to receive the next $700 million tranche from its current loan program, a spokeswoman said on Thursday, as the country faces Asia’s highest inflation and a looming debt crisis ahead of a crucial election.
By Staff Reporter
KARACHI: Pakistan’s economy is poised to rebound from a contraction in the current fiscal year and expand 2.1 percent in 2024, aided by easing supply bottlenecks, lower interest rates, and continued support from the International Monetary Fund, according to a Bloomberg economist.
By Staff Reporter
ISLAMABAD: The power regulator on Tuesday increased electricity tariffs by 39 percent for October 2023 to recover Rs32 billion from consumers under a monthly fuel adjustment mechanism.
