ISLAMABAD: Pakistan accused India on Friday of deliberately disrupting the flow of the Jhelum River by abruptly holding and releasing water from upstream hydroelectric projects, a move that officials said was exacerbating a water crisis already straining the country’s vast agricultural heartland after similar fluctuations in the Chenab River.
Economy
Pakistan plans $250mln debut Panda bond in January to tap China’s yuan market
ISLAMABAD: Pakistan is set to issue its first-ever Panda bond next month, aiming to raise the equivalent of $250 million as part of a broader $1 billion program, as the cash-strapped South Asian nation seeks to diversify its funding sources and reduce reliance on dollar-denominated debt.
SBP reserves top $15.8 billion, highest since 2022 on IMF funds
KARACHI: The foreign-exchange reserves held by the central bank surged by more than $1.3 billion in a single week to the highest level in almost four years, bolstered by a fresh disbursement from the International Monetary Fund.
Pakistan seeks major loan from ADB to ease power sector debt
Pakistan is seeking fresh financing from the Asian Development Bank to clear out the remaining Rs1.7 trillion in circular debt plaguing its power sector and to refinance Rs1.25 trillion in recent commercial borrowings, aiming to secure longer tenors and cut costs in a bid to ease electricity tariffs and bolster grid reliability.
Pakistan sees $927 million FDI in July–Nov, down 25 percent year-on-year
KARACHI: Foreign direct investment in Pakistan fell sharply in the first five months of the current fiscal year, underscoring the challenges facing the country’s economy as it grapples with persistent external financing needs.
Freight transporters end 10-day strike after govt concedes on fines, axle loads
KARACHI: The goods transporters called off a nationwide strike that lasted 10 days and threatened to inflict $1 billion in economic damage, after clinching concessions from federal and provincial authorities on fines, axle loads and other regulatory hurdles.
Transporters’ strike threatens $1 billion loss as talks stall
KARACHI: Pakistan’s economy is facing mounting losses from a nationwide transporters’ strike now in its 10th day, with industrialists warning of up to $1 billion in damage and threats to macroeconomic stability as negotiations with government officials stretch late into the night.
Pakistan posts $100 million current account surplus in November on falling imports
KARACHI: Pakistan’s current account swung to a surplus of $100 million in November, the central bank said, as a drop in imports helped counter weaker exports and remittances.
Pakistan pushes for Russian oil deal to cut import costs, diversify supply
KARACHI: Russia and Pakistan are negotiating a potential agreement in the oil sector that could expand cooperation in exploration, production and refining, as Islamabad pushes to cut import costs and Moscow hunts for new markets amid Western sanctions.
SBP cuts interest rate by 50 basis points, defying IMF guidance
KARACHI: Pakistan’s central bank on Monday unexpectedly lowered its benchmark interest rate by 50 basis points to 10.5%, defying analyst expectations and recent IMF guidance to hold off on further easing amid risks to inflation and external balances.