By Staff Reporter
ISLAMABAD: Pakistan’s newly elected coalition government has reached a consensus that spending cuts in development projects in the next fiscal year are the best way to stabilise the country’s fragile finances hit by expensive energy imports.
By Staff Reporter
ISLAMABAD: Pakistani officials started a much-delayed talks with the International Monetary Fund (IMF) on Wednesday, asking the Fund to extend its loan program for a year and boost the $6 billion loan to help support the country’s battered economy.
By Staff Reporter
ISLAMABAD: A crashing rupee on Wednesday finally shocked the government into bringing more luxury imports under an existing ban to throttle dollar outflows and control trade deficit.
By Staff Reporter
ISLAMABAD: As the end of Pakistan’s fiscal year nears and the budget making exercise gets into a higher gear, data on the performance of various sectors of Pakistan’s economy is trickling in and numbers are being crunched to piece together a clearer picture of national accounts.
By Staff Reporter
ISLAMABAD: Pakistan’s economic whiz kids today opened talks with their International Monetary Fund (IMF) counterparts on a stalled bailout facility with their fingers crossed as their forerunners left no room for error for them.
By Staff Reporter
ISLAMABAD: Aamir Ashraf Khawaja, Federal Secretary of Health, is about to get the axe for allegedly godfathering a slew of malpractices that nearly maimed the medical regulatory authority, sources said.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif has once again declined to authorise any immediate increase in petroleum prices, throwing a spanner in the works of the government team tasked with negotiating a revival of the stalled USD 6-billion bailout with the International Monetary Fund (IMF).
By Staff Reporter
ISLAMABAD: Pakistan has tapped the Asian Development Bank’s (ADB) Counter-Cyclical Facility (CFC) to get $1.5 to $2 billion additional budgetary support loan in two months to prop up its fast-depleting foreign currency reserves, the IP learnt.
By Staff Reporter
KARACHI: Remittances from Pakistani workers employed abroad rose to a record monthly high of $3.1 billion in April, 11.9 percent higher than a year earlier, the central bank said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s economic woes are complicating the situation of the country’s external obligations, owing chiefly to a lack of clarity as to who is the ultimate authority on key policy decisions confronting the economy.
