By Staff Reporter
ISLAMABAD: Pakistan’s large-scale manufacturing (LSM) sector contracted 14.37 percent in May, its 11th consecutive monthly decline, as high costs, currency devaluation and political turmoil weighed on the industry, official data showed on Thursday.
By Staff Reporter
Pakistan received $1.2 billion from the International Monetary Fund as part of a nine-month bailout program, boosting its foreign-exchange reserves and easing pressure on its currency.
By Staff Reporter
ISLAMABAD: Pakistan is in talks to buy a second shipment of discounted Russian crude oil, its petroleum minister said on Wednesday, as the cash-strapped nation seeks to diversify its energy sources and save on foreign exchange reserves.
By Staff Reporter
ISLAMABAD: Pakistan received a $1 billion deposit from the United Arab Emirates, the second inflow of funds from a friendly nation in two days, as it seeks to shore up its dwindling foreign exchange reserves.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) executive board approved on Wednesday a new $3 billion loan for Pakistan to support its economic stabilization program, and released about $1.2 billion immediately, the IMF and the Pakistani government said.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif expressed optimism on Wednesday that the International Monetary Fund (IMF) executive board would approve a $3 billion loan program, a lifeline for its struggling economy, later today.
By Staff Reporter
ISLAMABAD: Suspected Islamist militants attacked a Pakistani army base in the southwestern Balochistan province early Wednesday, killing four soldiers and wounding five others in a brazen assault that highlighted the security challenges facing the country.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday his coalition government would complete its term on August 14 and the election regulator would decide whether to hold polls in October or November.
By Staff Reporter
ISLAMABAD: Pakistan has removed two state-owned engineering companies from its active list of privatizations, citing unresolved legal and financial issues.
By Staff Reporter
KARACHI: Pakistan’s car sales plummeted 82 percent in June from a year earlier, hit by non-production days, soaring prices and weak demand, industry data showed on Tuesday, but they rose slightly from the previous month.
