By Staff Reporter
ISLAMABAD: Pakistan has approved a new investment policy for 2023 that aims to attract foreign and domestic investors by offering incentives, easing regulations, and creating special economic zones, the government said.
Economy
Pakistan’s middle-class hits back at government’s tax hike
A campaign, called “Save the Salaried Class”, has sent a letter to Finance Minister Ishaq Dar, urging him to reconsider the tax measures and provide relief to the salaried class by restoring deductible allowances and tax credits.
PTI’s Khan backs IMF’s $3 billion bailout for Pakistan
By Staff Reporter
ISLAMABAD: A team from the International Monetary Fund (IMF) met with Pakistan Tehreek-e-Insaf leader Imran Khan at his Lahore residence on Friday, seeking his backing for a $3 billion loan program that aims to stabilize the economy ahead of national elections.
Pakistan’s banks face rising defaults, lower profits amid economic slump
By Staff Reporter
ISLAMABAD: Pakistan’s central bank warned on Friday that the country’s banking sector faces a number of challenges as the economy slows down and borrowers struggle to repay their debts.
World Bank gives $46 million to boost health and services in Pakistan
By Staff Reporter
ISLAMABAD: The World Bank approved a $46 million loan to Pakistan to improve health and administrative services in the Khyber Pakhtunkhwa province, where the government is trying to integrate the former tribal areas into the mainstream.
IMF seeks Pakistan political parties’ backing for $3 billion bailout
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) is reaching out to Pakistan’s main political parties, including the one led by ousted Prime Minister Imran Khan, to secure their support for a new $3 billion bailout program ahead of national elections.
Pakistan compliant on SBA prior actions
The country is counting on the $3 billion program to turn around its ailing economy, grunting under the hefty foreign debt service burden accumulated over the years. By Muhammad Ali.
Dar sets the ball rolling on Aviation revamp, PIA restructuring
PM Sharif’s economy czar has ordered authorities to prepare legislation proposals to oil the wheels of the Aviation sector, in addition to seeking a presentation on PIA restructuring, to strengthen the flimsy with international aviation. By Muhammad Ali.
India snubbed as International court rules it can arbitrate Pakistan’s hydropower dispute
By Staff Reporter
ISLAMABAD: An international court ruled on Thursday that it could hear a dispute between India and Pakistan over two hydropower projects in the Himalayan region of Kashmir, rejecting India’s objections to its competence.
SBP reserves rise by $393 million, helped by China refinancing
By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves held by the central bank rose by $393 million to $4.462 billion in the week ending June 30, helped by the receipt of official inflows and the refinancing of $1.3 billion in Chinese commercial loans.