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.
Economy
IMF bailout secured, $3 billion to flow
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.
PM Sharif hopeful of $3 billion IMF loan approval today
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.
Pakistan drops two state-owned firms from privatization list
By Staff Reporter
ISLAMABAD: Pakistan has removed two state-owned engineering companies from its active list of privatizations, citing unresolved legal and financial issues.
Car sales crash 82pc in June
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.
Photo courtesy of APP
Pakistan greenlights billions in public spending largely focused on alternative energy
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.
Fitch rating upgrade a thumbs up for Pakistan
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.
Remittances down 13.6 percent YOY
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.
Why is Pakistan’s SBA still not on IMF executive board agenda?
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.
EU considers GSP+ extension to Pakistan amid human rights scrutiny
By Staff Reporter
ISLAMABAD: The European Union has proposed to extend Pakistan’s preferential trade status for another four years, the EU envoy to Pakistan said on Sunday, as the South Asian nation faces scrutiny over its human rights record.