By Staff Reporter
ISLAMABAD: With Pakistan well on its way to having the International Monetary Fund (IMF) revive a stalled bailout package it urgently needs, news came on Wednesday that a consortium of Chinese banks has thrown Islamabad a credit line of over USD 2 billion.
By Staff Reporter
KARACHI: The Pakistani rupee bounced back against the dollar in the morning trading Wednesday on the news of the authorities’ reaching a broad deal with the International Monetary Fund (IMF) on budgetary targets.
By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
By Staff Reporter
ISLAMABAD: The government plans to raise much needed millions of dollar in debt via an Islamic sukuk bond later this calander year amid growing concerns about the country’s dwindling foreign currency reserves.
By Staff Reporter
KARACHI: The US dollar’s upward march continued on Tuesday as it rose to PKR 212 against the local currency during early morning trading in the interbank market.
By Staff Reporter
ISLAMABAD: Country’s economic managers on Monday hashed out the ‘tough conditions’ tied to the resumption of the IMF loan programme with Prime Minister Shehbaz Sharif and got a final go-ahead.
By Staff Reporter
KARACHI: The central bank has made importers’ access to dollars comparatively difficult by directing banks to come to it first before making a transaction of $100,000 for any import payment in a latest bid to conserve hard US currency, media reported quoting sources on Monday.
By Staff Reporter
ISLAMABAD: He is in Tehran on a high-level mission to negotiate a power import deal with the Ayatollahs. But does he realise how close he is to solving Pakistan’s energy crisis in short order?
By Staff Reporter
KARACHI: In spite of the tough calls made by the coalition government to put Pakistan’s beleaguered economy back on the rails, the US dollar continued its ascent against the rupee Monday, rising above PKR 210 against the local currency during early morning trade in the interbank market.
By Staff Reporter
ISLAMABAD: The federal budget 2022-23 comes at a time when the country’s foreign exchange reserves are depleting, credit ratings are down, and the pressure on the out-of-options government to get a new lease on the IMF loan is increasing exponentially, economists said on Saturday.
