By Staff Reporter
ISLAMABAD: Pakistan’s growth rate is anticipated to remain stagnant between 0 and 0.5 percent for the outgoing financial year of 2022-23, with concerns mounting over a potential downturn in the crucial agriculture sector.
Economy
“Pakistan will not default, IMF or no IMF”
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Thursday said Pakistan would meet its debt obligations until December of this year and avoid defaulting, regardless of whether the International Monetary Fund (IMF) bailout program is revived.
ECC approves Roosevelt Hotel settlement agreement to lease 1,025 rooms for 3 years
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has given its approval for the execution of a settlement agreement between the Roosevelt Hotel Union, the New York City Government (NYCG), and the Roosevelt Hotel Corporation (RHC). Under the agreement, the hotel will lease 1,025 rooms for a period of three years.
IMF says engagement with Pakistan on current loan deal continues
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) continues its active involvement with Pakistan in the pursuit of securing funding and policy assurances, aiming to achieve a consensus on the ninth review of the $6.7 billion loan that was initially agreed upon in 2019, said a spokesperson of the Washington-based lender.
Pakistan secures plan to repay or refinance $3.7bn debt for current fiscal year
By Staff Reporter
ISLAMABAD: The Finance Ministry said on Tuesday it has made arrangements to repay or roll over the country’s $3.7 billion debt for this fiscal year.
Pakistan vows to address IMF’s concerns over fuel pricing scheme for underprivileged
By Staff Reporter
ISLAMABAD: Pakistan’s Minister of State for Petroleum, Musadik Malik, on Tuesday affirmed the government’s commitment to address concerns raised by the International Monetary Fund (IMF) over the proposed fuel pricing scheme aimed at helping the underprivileged.
Pakistan at risk of default without IMF bailout, says Moody’s
By Staff Reporter
KARACHI: Pakistan may face a risk of default if it fails to secure an International Monetary Fund (IMF) bailout loan, as the country’s financing options beyond June are uncertain, Moody’s Investor Service said on Tuesday.
Pakistan’s ninth review not on IMF board’s agenda for upcoming meetings
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) Executive Board has scheduled meetings until May 17, with the notable exclusion of Pakistan on the agenda as the country’s ninth review under the Extended Fund Facility (EFF) programme remains pending.
Punjab mulls USD 150 mil energy sector revamp
The World Bank funded program looks to save over 180 GWh of electricity annually through solarization, retrofitting, and replacement of inefficient appliances. By Muhammad Ali.
China cautions Pakistan on stability for progress in CPEC projects
By Staff Reporter
ISLAMABAD: Chinese Foreign Minister Qin Gang on Saturday made it clear that further progress in multibillion-dollar projects under the China-Pakistan Economic Corridor (CPEC) was contingent upon internal political and security stability in Pakistan.