By Staff Reporter
KARACHI: Pakistan’s government has drawn criticism from the International Monetary Fund for its budget, which the fund said was inadequate to meet the objectives of its $6.7bn loan program, raising doubts over whether the country will be able to secure the next tranche of aid by the expiry of Fund’s programme at the end of June.
By Staff Reporter
KARACHI: Pakistan LNG Limited (PLL) has been allowed Economic Coordination Committee (ECC) of the cabinet to sign a framework agreement with SOCAR Trading, the international arm of Azerbaijan’s state oil company, the finance ministry said on Wednesday.
By Naveed Naqvi
ISLAMABAD: Pakistan is at an increased risk of failing to complete its $6.7 billion bailout program with the International Monetary Fund (IMF), which expires at the end of June, Moody’s Investors Service said on Wednesday.
By Staff Reporter
KARACHI: Shell Pakistan Limited (SPL) said on Wednesday that its parent company, Shell Petroleum Company Limited (SPCo), intends to sell its shareholding in the Pakistani subsidiary, subject to a sales process and regulatory approvals.
By Staff Reporter
KARACHI: Pakistan is looking to buy spot liquefied natural gas cargoes for the first time since July 2022, as Asian prices ease from record highs and the country faces a gas shortage that has led to power outages
By Staff Reporters
KARACHI: Remittances from overseas workers fell 10 percent year-on-year and 4 percent month-on-month to $2.1 billion in May, as a widening gap between official and unofficial exchange rates lured more inflows into the grey market, central bank data showed on Tuesday.
By Staff Reporter
ISLAMABAD: The government said it has no plans to freeze foreign currency accounts as its central bank’s reserves fell to $3.9 billion, enough to cover less than a month of imports.
By News Desk
ISLAMABAD: Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese yuan, petroleum minister said on Monday, a significant shift from its dollar-dominated export payments policy, Reuters reported on Monday.
By Staff Reporter
KARACHI: Pakistan’s central bank on Monday held its key interest rate at a record 21 percent, as expected, suspending its monetary tightening campaign as the economy slows and inflation has peaked.
By Staff Reporter
KARACHI: Pakistan received its first shipment of Russian crude oil on Sunday under a new deal that aims to diversify its oil import sources and secure discounted rates from Moscow.
