By Staff Reporter
ISLAMABAD: Pakistan is in talks to buy a second shipment of discounted Russian crude oil, its petroleum minister said on Wednesday, as the cash-strapped nation seeks to diversify its energy sources and save on foreign exchange reserves.
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.
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.
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.
By Staff Reporter
ISLAMABAD: Pakistan has removed two state-owned engineering companies from its active list of privatizations, citing unresolved legal and financial issues.
By Staff Reporter
KARACHI: Pakistan’s car sales plummeted 82 percent in June from a year earlier, hit by non-production days, soaring prices and weak demand, industry data showed on Tuesday, but they rose slightly from the previous month.
A high-powered executive panel approved more than half a trillion rupees in development spending, although not all of it will come from the current year’s budget. By Muhammad Ali.
The global rating agency’s move is an acknowledgement of the government’s hard work in recent months to turn around the country’s ramshackle economy. By Muhammad Ali.
The mess created by the unchecked slide of the rupee keeps taking its toll on Pakistan’s economy in more ways than can be counted. By Muhammad Ali.
A staff-level agreement has been inked for the $3 billion bailout, but the unnecessary uncertainty over the executive board’s approval is hurting Pakistan’s beleaguered economy. By Muhammad Ali.
