By Naveed Naqvi
ISLAMABAD: Russia on Friday agreed to supply crude oil and oil products to Pakistan, with technical details of the deal to be finalized by March and Islamabad will pay for the imports in currencies of ‘friendly countries’, officials of both the countries said.
Central bank governor Jameel Ahmad said the country will see dollar inflows in the coming days after funding commitments from the Middle East.
By Staff Reporter
KARACHI: Pakistan’s current account (C/A) deficit narrowed sharply in the first half of the current fiscal year amid dollar shortages in the country to fund imports of goods, central bank data showed on Wednesday.
By Staff Reporter
KARACHI: Foreign direct investment in Pakistan plunged 59 percent in the first six months of fiscal 2022/23 as the country’s economic crisis bit into capital inflows, according to data released by the central bank on Wednesday.
Karachi’s leading power distributor says it is ready to reimburse consumers PKR 10.262/unit on account of lower international fuel prices. By Naveed Naqvi.
By Staff Reporter
ISLAMABAD: Toronto-based Barrick Gold Corp, the world’s biggest gold producer, is targeting 2028 for first commercial production from the Reko Diq copper-gold mine in Pakistan’s Balochistan province.
While today’s low-growth, high-inflation economy is a worldwide phenomenon, less affluent countries with high-levels of public debt are especially vulnerable to its many hazards, says the WEF’s Global Risks Report 2023. By Staff Reporter.
By Staff Reporter
ISLAMABAD: The United Arab Emirates on Thursday agreed to roll over a $2 billion existing loan to Pakistan and provide an additional $1 billion, a statement from Prime Minister’s Office said.
By Staff Reporter
ISLAMABAD Finance minister Ishaq Dar said Pakistan will cut farm and export subsidies and tackle the problem of circular debt as the cash-strapped country looks to bring back fiscal rectitude to convince the International Monetary Fund (IMF) to release overdue bailout payments.
Seeking to clarify an earlier statement he made over media, the Finance Minister categorially discredited a malicious campaign by “vested elements who ruined this country’s economy. By Ahmer Kureishi.
