Are the authorities using an increase in gas prices as an icebreaker in the parleys with the IMF staff for the release of a USD 1.18 billion tranche of funding? By Naveed Naqvi.
Economy
World Bank board approves $1.692 billion for Sindh flood-victims
By Staff Reporter
ISLAMABAD: The World Bank’s executive board approved $1.692 billion in financing for Pakistan to support five projects for people living in flood-affected areas of southern Sindh province, the lender said in a statement on Tuesday.
IMF, Pakistan in virtual dialogue to bridge differences
Blocking progress so far is variance of views over unbudgeted subsidies, tax-to-GDP ratio, energy sector circular debt, and the rupee’s exchange rate. By Muhammad Ali.
Veon nears sale of Pakistan towers to TPL-TASC Group: Bloomberg
Monitoring Desk
DUBAI: Wireless operator Veon Ltd. is close to selling its tower assets in Pakistan to a consortium comprised of Pakistan’s TPL Corp. and UAE-based TASC Towers Holding Ltd. in what could be the country’s largest deal in more than a decade, Bloomberg newswire reported on Friday.
Pakistan, Barrick ink final deal on Reko Diq project
By Staff Reporter
ISLAMABAD: Canada-based mining firm Barrick Gold Corporation said on Thursday it had signed agreements with Pakistan’s provincial and federal governments to complete the reconstitution of the Reko Diq project after the Supreme Court endorsed a settlement to resume mining at the world’s largest underdeveloped sites of copper and gold deposits.
UN says run out of food for Pakistan flood victims on low funding
By Staff Reporter
ISLAMABAD: The United Nations said the world community has not provided enough funds after the devastating floods in Pakistan and that may lead to the suspension of its emergency food support program next month.
Pakistan cuts domestic fuel prices
By Staff Reporter
ISLAMABAD: The government on Thursday cut petrol (motor gas) price to pass on a decline in global prices to inflation-hit consumers.
Pakistan signs five loan deals worth $775 million with ADB
By Staff Reporter
ISLAMABAD: Pakistan on Thursday signed five loans agreements worth $775 million for flood relief with the Asian Development Bank (ADB), the economic affairs ministry said, taking the total lending for the year to $2.7 billion with the agency.
Pakistan allows 100,000T sugar exports
By Staff Reporter
ISLAMABAD: Pakistan has allowed 100,000 tonnes of sugar exports, the finance ministry said on Thursday, as it seeks to generate foreign exchange for state coffers and revenue for cash-hungry mills.
PTA celebrates export success of Pakistani cell phone maker
Inovi Telecom has become the first domestic manufacturer to export 120,000 mobile phone handsets from Pakistan. By Staff Reporter.