By Staff Reporter
ISLAMABAD: The chances of Pakistan doing a deal with the International Monetary Fund have grown since a meeting in Islamabad due this week, Prime Minister Shehbaz Sharif said on Friday, adding that measures needed to pull the economy out of the unparalleled crisis are likely to bring even more pain.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Thursday its mission would visit Pakistan on January 31 to discuss the stalled ninth review of a bailout programme.
By Staff Reporter
ISLAMABAD: Eni said the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure.
By Staff Reporter
KARACHI: Rupee tumbled about 9.6 percent to a record low of 255.43 against the dollar on Thursday as the cash-strapped government abandoned controls on its currency exchange rate to revive an International Monetary Fund (IMF) bailout programme.
By Staff Reporter
KARACHI: The gap between the open market rate of the rupee and the price on the black market widened further on Wednesday, though money exchange companies removed an unofficial cap on the dollar-rupee parity, allowing the currency to drop on market demand.
By Staff Reporter
KARACHI: Foreign currency dealers on Tuesday removed an unofficial floor on exchange rates to rebalance currency markets following months of turbulence, an official said, paving the way for rupee/dollar parity to match its actual street value.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered an inquiry into a major breakdown in the national grid caused a massive power outage nationwide as electricity is being restored in the country after a blackout of almost 16 hours.
By Staff Reporter
KARACHI: The State Bank of Pakistan on Monday removed the requirement of obtaining approval before importing essential goods to facilitate traders.
By Staff Reporter
The State Bank of Pakistan raised its benchmark interest rate by 100 basis points to 17 percent on Monday as inflation remains elevated, and the central bank says that there will be no letup in flight to tame inflation.
By Staff Reporter
ISLAMABAD: A major power outage hit cities and towns on Monday, including the capital Islamabad and the commercial hub Karachi, due to a fault in transmission lines, officials said.
