By Staff Reporter
ISLAMABAD: Pakistan’s textile exports plunged 15 percent to $16.51 billion in the fiscal year 2022/23, missing a target of $24 billion, as high energy costs and import restrictions hurt the industry, official data showed on Monday.
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Moody’s says Pakistan’s IMF deal eases liquidity risk, but challenges remain
By Staff Reporter
KARACHI: Pakistan’s agreement with the International Monetary Fund (IMF) for a $3 billion stand-by arrangement will provide some relief for its strained public finances, but the country faces significant hurdles to sustain economic stability and growth, Moody’s Investors Service said on Monday.
Pakistan’s dollar-bonds rally after IMF deal
Barclays upgraded its outlook on Pakistan’s sovereign-dollar bonds to ‘market weight’ from ‘underweight’, and recommended buying the 2025, 2026, 2027 and 2031 maturities.
Inflation falls to seven-month low of 29.4pc in June after rate hike, fuel cuts
By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 29.40 percent in June, the lowest level in seven months, as record-high interest rates and lower fuel prices curbed consumer demand and commodity costs, official data showed on Monday.
IMF rescue package sparks historic surge in Pakistan stocks
The benchmark KSE-100 index jumped 5.5 percent or 2,269 points in less than 10 minutes of its opening, breaching the 5 percent movement barrier that triggers a suspension of trading for an hour.
Pakistan’s new debt management strategy aims to reduce risk, diversify portfolio
The country plans to issue 10- to 15-year bonds and secure concessional loans to meet its external financing needs, as part of a new Medium-Term Debt Management Strategy for fiscal years 2023 to 2026 that aims to reduce risk and diversify its portfolio.
Pakistan braces for monsoon, urban floods feared
By Staff Reporter
ISLAMABAD: Pakistan’s weather department warned of urban floods in several cities as it forecast monsoon rains and hailstorms from July 3 to 8.
Six security officials killed in Balochistan attacks
By Staff Reporter
ISLAMABAD: Six security officials were killed in attacks on check posts and a patrol party in southwestern Balochistan province on Sunday, the government and military said, as violence flared in the restive southwestern province.
Pakistan, India swap lists of detainees
By Staff Reporter
ISLAMABAD: Pakistan and India exchanged lists of prisoners on Saturday as part of a bilateral agreement, the foreign office said, with 417 Pakistanis in Indian jails and 308 Indians in Pakistani custody.
‘Pakistan’s IMF bailout could help avoid default’
By Staff Reporter
ISLAMABAD: Pakistan has secured a $3-billion, nine-month bailout from the International Monetary Fund (IMF) that will help it avoid default this year, Bloomberg Economics said.