KARACHI: The State Bank of Pakistan left its interest rate at an all-time high of 22 percent for the seventh straight policy meeting on Monday, citing inflation risk amid geopolitical tension and macroeconomic stabilization measures.
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Antitrust authority greenlights Aramco’s 40pc stake acquisition in Gas & Oil Pakistan
By Staff Reporter
ISLAMABAD: Saudi Aramco, the world’s largest oil producer, has entered Pakistan’s fuels retail market with approval from the country’s monopoly watchdog on its acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd.
IMF approves final $1.1 billion tranche of $3billion bailout for Pakistan
By Staff Reporter
ISLAMABAD: Pakistan secured a $1.1 billion lifeline from the International Monetary Fund (IMF) on Monday, as the global lender approved the final tranche of a $3 billion bailout package designed to shore up the country’s dried-up finances and avert a sovereign default.
Iran and Pakistan agree to speed up free trade deal despite US warning
By Staff Reporter
ISLAMABAD: Iran and Pakistan have agreed to “expeditiously finalise” a free trade agreement (FTA) aimed at boosting economic cooperation between the two nations, despite a warning from the United States about the risks of doing business with Tehran.
Current account surplus soars to 9-year high
By Staff Reporter
KARACHI: Pakistan’s current account surplus surged to its highest level since 2015, providing a rare bright spot for the struggling economy as it seeks a new bailout from the International Monetary Fund.
IMF board to review Pakistan’s final $1.1 billion loan tranche on April 29
By Staff Reporter
ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board will meet on April 29 to finalise its last review of Pakistan’s $3 billion Stand-By Arrangement (SBA), despite the country’s absence from the Fund’s public calendar.
Military kills 11 militants in two operations in northwestern Pakistan
By Staff Reporter
ISLAMABAD: Pakistan’s military said on Monday it had killed 11 militants in two separate operations in the northwestern province of Khyber Pakhtunkhwa, as the country grapples with a surge in terrorist attacks.
Iran and Pakistan ink eight pacts, eye $10 billion trade boost
By Staff Reporter
ISLAMABAD: Iran and Pakistan signed eight agreements on Monday, including a security cooperation pact, as they sought to strengthen ties and boost trade to $10 billion, Iranian President Ebrahim Raisi said.
The signing took place during Raisi’s three-day visit to Islamabad, which began on Monday.
Ruling PML-N wins most seats in by-polls, opposition cries foul
By Staff Reporter
ISLAMABAD: The ruling Pakistan Muslim League-Nawaz (PML-N) party secured a majority of the 21 national and provincial seats up for grabs in the by-elections held on Sunday, according to provisional results released by the Election Commission of Pakistan (ECP).
Pakistan to finalise PIA privatisation by July, Islamabad airport next in line
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Saturday that the process of privatising Pakistan International Airlines (PIA) will be finalized by the end of June or early July, with Islamabad airport potentially following suit shortly after, Dawn newspaper reported.