By Staff Reporter
ISLAMABAD: Pakistan’s central bank saw its foreign exchange reserves drop by $482 million to $3.54 billion in the week to June 16, latest data showed on Thursday, as the country faces pressure to revive a stalled IMF programme and repay its debts.
By Staff Reporter
KARACHI: AD Ports Group, a UAE government-owned maritime and logistics provider, said on Thursday it had signed a 50-year concession agreement with Pakistan’s Karachi Port Trust (KPT) to operate the Karachi Gateway Terminal Limited (KGTL).
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said on Thursday he hoped the International Monetary Fund would release funds under its bailout program soon, after meeting IMF Managing Director Kristalina Georgieva on the sidelines of a summit in Paris.
By Staff Reporter
KARACHI: Pakistan is set to lease four terminals of its Karachi Port to a state-owned company of the United Arab Emirates for 50 years in a deal that will bring $50 million upfront and about $24 million in annual fees.
By News Desk
ISLAMABAD: Pakistan expects to receive over $20 billion in investments from Saudi Arabia, the United Arab Emirates and Qatar in various fields, Arab News reported on Wednesday.
By Staff Reporter
ISLAMABAD: Pakistan is making a final push to revive a stalled $6.7 billion International Monetary Fund (IMF) loan program before it expires at the end of June, with its prime minister seeking a meeting with the IMF chief and its finance minister meeting the U.S. envoy.
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a surcharge of Rs1.52 rupees per unit of electricity for consumers of K-Electric, the country’s largest power distributor, to align its tariff with other state-owned utilities.
By Staff Reporter
ISLAMABAD: Pakistan borrowed $8.613 billion from various sources, including $900 million from foreign commercial banks, in the first 11 months of the 2022-23 fiscal year, down 36 percent from the same period a year earlier, official data showed on Tuesday.
By Staff Reporter
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Tuesday thanked China for its financial support during the country’s economic challenges, as a $6.7 billion International Monetary Fund (IMF) bailout programme remains stalled.
By Staff Reporter
ISLAMABAD: Pakistan failed to secure any spot liquefied natural gas (LNG) cargoes for October-to-December delivery, traders said on Tuesday, as suppliers shunned the country’s tenders due to banking issues.
