Making a return to the international capital market after over two years, Pakistan announced on Wednesday that it had signed an Asian Development Bank-backed agreement for $1 billion Syndicated Term Finance Facility (STFC) with commercial banks, primarily based in the Middle East. The $1bn facility is partially backed by a policy-based guarantee of the ADB’s “Improved Resource Mobilisation and
The prolonged combination of low economic growth and high inflation over the past few years in Pakistan appears to have taken a serious financial toll on large sections of the population, leading to increasing borrowing needs, according to the latest survey. “In the last five years, increased living costs are the leading reason for borrowing in 2024, reported by 12pc of Pakistani adults”, said
A parliamentary committee has recommended raising the threshold limit for purchases made by “eligible individuals” — a new term for people who file their tax returns — and approved a measure to tax luxury clubs nationwide. The development came as the Senate and National Assembly Standing Committees on Finance and Revenue held simultaneous sessions at Parliament House to conduct a clause-by-cla
The price of one tola of gold now stands at Rs362,300, with a drop of Rs700, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The decline is attributed to a reduction in global gold rates, which dropped by $18 per ounce. The international market saw a decline, bringing the price of gold to $3,414 per ounce. Similarly, the price of 10 grams of gold has also decrea
In March 2022, Pakistan made headlines when Mark Bristow signed a landmark agreement to launch the country's largest-ever copper and gold mining projecta symbol of traditional resource extraction. Three years later, in March 2025, a new frontier emerged with the formation of the Pakistan Crypto Council (PCC), aiming to mine a different kind of gold: digital. From proposals to use idle electricity