By Staff Reporter
KARACHI: Pakistan’s remittances, one of the country’s main sources of foreign currency, fell 6.3 percent to $7.7 billion bln in the first quarter year-on-year due to the impact of looming recession on global economy, central bank data showed on Tuesday.
By Staff Reporter
ISLAMABAD: Rating agency Moody’s on Tuesday downgraded the long-term deposit ratings of five Pakistani banks to Caa1 from B3.
By Staff Reporter
THAR: Prime Minister Shehbaz Sharif on Monday said the inexpensive energy production from Thar Coal Mines Project would prove to be a game-changer of development for the entire country.
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Monday kept its benchmark interest rate on hold at 15 percent, opting to leave borrowing costs unchanged despite soaring inflation as it warned of a further economic slowdown dure to catastrophic floods.
It is time for the Finance Minister to show the world how Pakistan can overcome its chronic macroeconomic imbalances and become solvent in short order – and so much rides on his success. By Muhammad Ali.
By Staff Reporter
Finance Minister Ishaq Dar on Sunday said Pakistan will not seek debt restructuring from Paris Club creditor nations as he stepped up attempts to calm frayed investor nerves after a credit rating downgrade.
By Staff Reporter
ISLAMABAD: The World Bank said it will provide about $2 billion in aid to Pakistan, ravaged by floods that have killed more than 1,700 people this year.
By Staff Reporter
ISLAMABAD: The government has instructed all federal ministries/divisions as well as four provinces to implement Techno-Economic Feasibility studies for undertaking multi-billion rupees development projects in an efficient manner.
Confident that the initiative will not break the budget, Finance Minister Ishaq Dar hopes it will enhance the industries’ competitive edge in export markets. By Muhammad Ali.
By Staff Reporter
KARACHI: Global ratings agency Moody’s cut Pakistan’s sovereign credit rating on Thursday by one notch to Caa1 from B3, citing increased government liquidity, external vulnerability risks and higher debt sustainability risks, following the devastating floods in the country.
