By Staff Reporter
KARACHI: Pakistan received its first shipment of Russian crude oil on Sunday under a new deal that aims to diversify its oil import sources and secure discounted rates from Moscow.
Economy
APP02-100623
ISLAMABAD: June 10 - Finance Minister Senator Mohammad Ishaq Dar addresses the Post Budget press conference at Ministry of Planning. APP/SAK/ABB
Dar says Pakistan to seek debt relief from bilateral lenders
By Staff Reporter
ISLAMABAD: Pakistan will ask some of its bilateral creditors to ease its debt repayment terms, Finance Minister Ishaq Dar said on Saturday, as the country faces uncertainty over completing an International Monetary Fund (IMF) bailout program that expires this month.
Pakistan hopes to finalise IMF bailout deal in June
By Staff Reporter
ISLAMABAD: Pakistan hopes to finalise a $1.1 billion tranche from the International Monetary Fund (IMF) bailout program by the end of June, Prime Minister Shehbaz Sharif said on Friday.
Dar says IMF’s ‘unfair treatment’ worsens Pakistan’s economic turmoil
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Friday criticised the International Monetary Fund (IMF) for delaying a bailout program for the country, saying it was “totally unfair” and had contributed to the economic turmoil.
Pakistan’s budget aims for growth under IMF scrutiny
By Staff Reporter
ISLAMABAD: Pakistan unveiled a budget on Friday that aims to boost economic growth to 3.5 percent in the next fiscal year, while keeping the budget deficit below 7 percent to meet the conditions of an International Monetary Fund (IMF) bailout program.
Pakistan’s economy shrinks, misses all targets in dismal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
Dar says new government should negotiate fresh IMF deal
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that the new elected government should negotiate a fresh deal with the International Monetary Fund (IMF) after the current programme ends in June.
IMF sets three conditions for Pakistan to release stuck up funds
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Thursday Pakistan must meet three conditions before its board can review whether to release at least some of the $2.5 billion still pending under a lending program expiring this month.
Pakistan to raise $2bn in bonds amid IMF uncertainty
By Staff Reporter
ISLAMABAD: Pakistan plans to raise $2 billion by issuing international bonds in the next fiscal year, as it seeks to secure over $22 billion in foreign loans amid uncertainty over its International Monetary Fund (IMF) programme.
World Bank forecasts for 2pc growth in Pakistan’s economy in FY24 fall short of govt’s target
By Staff Reporter
KARACHI: Pakistan’s economy is expected to grow by 2 percent in the next fiscal year, well below the government’s target of 3.5 percent, as the country struggles with the lasting effects of last year’s floods, high inflation and policy uncertainty, the World Bank said on Tuesday.