By Staff Reporter
ISLAMABAD: Rupee devaluation and rising energy prices are likely to push up consumer prices in the near term that are already sky high, the finance ministry warned on Friday.
Economy
Eleven killed in stampede for food aid in Karachi
By Staff Reporter
KARACHI: At least 11 people, including women and children, were killed and several others injured in a deadly stampede during the distribution of food aid in Karachi on Friday, officials said.
Pakistan picks IFC as adviser for airports outsourcing
By Staff Reporter
ISLAMABAD: Pakistan on Thursday approved hiring of World Bank’s International Finance Corporation (IFC) to provide transaction support as the country initiated a process to outsource operations at three major airports on a public private partnership.
Pakistan awaits China’s decision on rollover of $2bn loan: Reuters
News Desk
ISLAMABAD: China is working on a request from cash-strapped Pakistan to roll over a $2-billion loan that matured last week amid a stalemate in bailout talks with the International Monetary Fund (IMF), Reuters reported on Thursday.
EU removes Pakistan from list of ‘High-Risk Third Countries’
By Staff Reporter
ISLAMABAD: The European Union has removed Pakistan from its ‘list of high-risk third countries’, a move welcomed by Prime Minister Shehbaz Sharif as a major development that would facilitate the country’s businesses.
Islamabad: H.E. Mr. Hamad Obaid Ibrahim Salim Al-Zaabi, Ambassador of the United Arab Emirates called on the Federal Minister for Finance & Revenue Senator Mohammad Ishaq Dar on March 29 2023.
Dar meets top UAE diplomat amid economic crisis
By Staff Reporter
ISLAMABAD: Finance minister Ishaq Dar held talks with the top United Arab Emirates diplomat in Pakistan on Wednesday to seeks external financing commitment — a key IMF condition for release of stuck-up bailout loan — from the friendly county.
Pakistan has to give assurance on external financing for loan deal: IMF
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has tasked Pakistan to secure financing assurances from other multilateral institutions and friendly countries to unlock a $6.5 billion loan programme to avoid a default.
IMF says provincial elections decision ‘rests solely with Pakistan’s institutions’
By Staff Reporter
ISLAMABAD: The International Monetary Fund on Thursday told crisis-hit Pakistan not to involve the Fund in domestic electoral politics, saying a decision to hold or not hold elections “rests solely with Pakistan’s institutions”.
IMF flags few more hurdles for Pakistan to secure bailout: Bloomberg
Monitoring Desk
ISLAMABAD: The International Monetary Fund (IMF) said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support, Bloomberg reported on Tuesday.
PSO gets Rs27bln grant to overcome losses in Kuwaiti diesel credit facility
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved an additional grant of Rs27 billion for the state-owned Pakistan State Oil (PSO) to overcome losses in a Kuwaiti diesel credit facility, finance ministry said on Tuesday, citing exchange losses due to rupee-dollar parity over the last one year.