World Bank has reiterated its commitment to support the Benazir Income Support Programme (BISP) social protection system in order to strengthen and financially empower the marginalised segments of society and ensure relief to the poorest of the poor. A high-level delegation of the bank had a meeting with BISP Chairperson Dr Amjad Saqib at the BISP headquarters here on Thursday. The delegatio
The Board of Investment (BoI) and the World Bank-affiliate International Finance Corporation unveiled a visionary investment plan, for which the IFC committed to inject over $1.5 billion into Pakistan’s economy in the form of short- and long-term investments aimed at catapulting the country into a new era of prosperity and development, BoI announced on Thursday. The pledge follows the IFC’s su
Oil marketing companies recorded volumetric sales of 1.26 million tonnes in October, up 19 per cent from a month ago but down 24pc on an annual basis. According to a note by Topline Research on the latest industry data, the monthly jump in volumetric sales is due to the low base of the preceding month. In addition, higher prices and the fact that consumers waited in anticipation of a decline in
The foreign exchange reserves held by the State Bank rose $14 million in a week, the central bank said on Thursday, but the rupee remained under pressure and fell for the ninth consecutive day in the interbank market to close at 283.43 against the dollar. According to the SBP data, its reserves increased $14m during the week ending Oct 27 to $7.51 billion, though the bank did not specify the co
The caretaker government and the International Monetary Fund (IMF) kicked off the much-awaited loan review talks on a generally positive note on Thursday, setting the stage for a deep dive into forward-looking reforms under a nine-month bailout package, slated to be completed in March next year. Caretaker Finance Minister Dr Shamshad Akhtar and the IMF’s mission chief for Pakistan, Nathan Porte