By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said on Sunday it would work with the international community to support Pakistan’s relief and reconstruction efforts following the catastrophic floods.
Economy
Saudi Arabia confirms rollover of $3bn deposit maturing in December for one year: SBP
By Staff Reporter
KARACHI: Saudi Arabia renewed a $3 billion deposit at Pakistan’s central bank to bolster the south Asian state’s depleting foreign reserves, the central bank said on Sunday.
Loan-hungry Pakistan keen to secure $1.5bn ADB programme as other inflows dry up
By Staff Reporter
ISLAMABAD: As the possibility of any immediate financing from multilateral creditors for the cash-strapped energy sector remains elusive, the government is exploring alternatives to secure programme loans for other sectors of the economy.
Pakistan, Russia see positive signs for grain, oil deals
By Staff Reporter
ISLAMABAD: Russia has offered Pakistan wheat and gas amidst soaring prices of fuel and commodities as the government struggles to make up for crops and food stocks washed away by catastrophic floods, which have also killed more than 1,500 people, a minister said on Saturday.
Fitch Solutions says Pakistan to miss economic growth in FY23 after catastrophic floods
By Staff Reporter
ISLAMABAD: Pakistan’s already weak economy will further drag on growth in the current fiscal year of 2022/23 as it confronted catastrophic floods that wiped out vital cash crops in two provinces and would also exacerbate political instability, Fitch Solutions said.
Russia’s Putin says pipeline gas supplies to Pakistan possible, part of infrastructure in place
By Staff Reporter
ISLAMABAD: Russia can supply gas to Pakistan as necessary infrastructures are already in place, President Vladimir Putin said on Thursday during his meeting with Prime Minister Shehbaz Sharif on the sidelines of the SCO summit in Uzbekistan, Russian state-owned news wire TASS reported.
MIFTAH ISMAIL: The Minister for Finance held a presser Sunday; File Photo courtesy APP
Does Miftah Ismail have a future as economic czar?
The Finance Minister may be unpopular among his colleagues, but Prime Minister Sharif is stuck with him as Ishaq Dar is not returning any time soon. By Muhammad Ali
Sindh raises wheat purchase price to help support flood-hit farmers
By Staff Reporter
KARACHI: Sindh has raised the price at which the government will buy next season wheat from farmers by at least 80 percent, as the flood-devastated province looks to support millions of farmers who lost almost everything in the catastrophic deluge of monsoon.
Pakistan drops seven spots to rank 161st on UN’s Human Development Index
By Staff Reporter
ISLAMABAD: Pakistan has dropped seven spots in the Human Development Index (HDI), ranking 161 out of 192 countries in the 2021-2022, a United Nations Development Programme (UNDP) report said.
UN chief seeks ‘massive’ world help for flood-hit Pakistan as losses exceed $30bln
By Staff Reporter
ISLAMABAD: The United Nations Secretary General Antonio Guterres on Friday called world community for ‘massive’ financial support for flood-ravaged Pakistan as damages caused by deadly deluges exceed $30 billion.