The Asian Development Bank (ADB) on Monday announced that it has approved $155.5 million in financing for Pakistan that will support policy reforms enhancing women’s access to finance and providing credit to women-led micro, small, and medium-sized enterprises. In a statement, the Manila-based lending agency said the financing comprised a $100 million policy-based loan that supports legal and r
The Chinese government has agreed to consider a request to amend the existing Free Trade Agreement (FTA), supply trade finance in yuans and provide loans to assist industry relocation to Pakistan. The requests were made during Pakistan’s Interim Commerce Minister Gohar Ejaz’s visit to China, where he is leading a 20-member group. Pakistan and China have come to a mutual understanding to revise
Auto assemblers continued to face a highly disturbing situation as year-on-year car sales plunged 53 per cent, trucks 48pc, buses 45pc, light commercial vehicles, pickups and vans 37pc, and two/three-wheelers recorded a 13pc drop during the first five months of FY24. However, brisk agricultural indicators significantly boosted the sales of tractors (Massey Ferguson and Fiat) by 98.19pc to 20,80
Pakistan’s central bank is expected to hold its key rate steady at a fourth straight policy meeting on Tuesday, with inflation forecast to start easing in coming months paving the way for rate cuts to boost the economy, analysts said. The country has embarked on a difficult path to economic recovery under a caretaker government after a $3 billion loan programme was approved by the IMF in July t
The Executive Committee of the National Economic Council (Ecnec) on Monday approved a total of nine development projects worth about Rs367 billion mainly to ensure international development assistance. The meeting was presided over by Caretaker Finance Minister Dr Shamshad Akhtar and attended by Sami Saeed and Shahid Ashraf Tarar, the ministers for Planning and Communications respectively. How