Pakistan received $8.1 billion in loans in the past six months on the back of International Monetary Fund’s (IMF) stamp, as Finance Minister Dr Shamshad Akhtar said on Thursday that talks with the global lender were about to begin for an uninterrupted flow of foreign loans. “No bilateral creditor will pay you nor any multilateral agency will take risk on Pakistan without the IMF programme,” sai
The International Monetary Fund (IMF) faces tough choices on how to deal with Pakistan after the February 8 general election and how to assess the country’s debt situation, former central bank governor Reza Baqir said. The government secured a $3 billion loan programme with IMF in July that helped pull the cash-strapped nation back from the brink of a sovereign debt default. However, the pro
Suzuki Motor Corporation (SMC), the parent company of Pak Suzuki Motor Company Ltd, has agreed to purchase the ordinary shares of PSMCL at a buyback price of Rs609 per share for delisting. In a stock filing, the company said that the above deal is subject to the purchase of at least 13,915,775 ordinary shares (62.84 per cent) out of 21,145,760 ordinary shares outstanding with the shareholders o
Oil prices rose on Thursday as the International Energy Agency (IEA) joined producer group Opec in forecasting strong growth in global oil demand and as cold winter weather disrupted US crude output while the government reported a big weekly draw in crude inventories. Oil traders also worried about geopolitical risks in the Middle East. Brent crude futures gained 66 cents, or 0.9 per cent, to $
Tensions with Iran and Afghanistan could lead to uncertainty in the country and destabilise the exchange rate, as the demand for dollars will rise, said currency dealers in Karachi. A currency dealer mentioned that the grey market, which had disappeared after the crackdown, started showing activity on Thursday. “I am not sure about the grey market activity. If the situation leads to more unc