By News Desk
ISLAMABAD: Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese yuan, petroleum minister said on Monday, a significant shift from its dollar-dominated export payments policy, Reuters reported on Monday.
By Staff Reporter
KARACHI: Pakistan’s central bank on Monday held its key interest rate at a record 21 percent, as expected, suspending its monetary tightening campaign as the economy slows and inflation has peaked.
By Staff Reporter
KARACHI: A cyclone that intensified into an extremely severe storm on Sunday is likely to hit the coast between Karachi in Pakistan and Gujarat in India on June 15, weather officials said.
By Staff Reporter
KARACHI: Pakistan received its first shipment of Russian crude oil on Sunday under a new deal that aims to diversify its oil import sources and secure discounted rates from Moscow.
By Staff Reporter
ISLAMABAD: Pakistan will ask some of its bilateral creditors to ease its debt repayment terms, Finance Minister Ishaq Dar said on Saturday, as the country faces uncertainty over completing an International Monetary Fund (IMF) bailout program that expires this month.
By Staff Reporter
ISLAMABAD: Pakistan hopes to finalise a $1.1 billion tranche from the International Monetary Fund (IMF) bailout program by the end of June, Prime Minister Shehbaz Sharif said on Friday.
By Naveed Naqvi
ISLAMABAD: A violent rainstorm killed 25 people, including seven children, and injured many more in Pakistan’s northwestern Khyber Pakhtunkhwa province on Saturday, officials said.
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar on Friday criticised the International Monetary Fund (IMF) for delaying a bailout program for the country, saying it was “totally unfair” and had contributed to the economic turmoil.
By Staff Reporter
ISLAMABAD: Pakistan unveiled a budget on Friday that aims to boost economic growth to 3.5 percent in the next fiscal year, while keeping the budget deficit below 7 percent to meet the conditions of an International Monetary Fund (IMF) bailout program.
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
