The total outstanding balances and undisbursed commitments of the non-sovereign transactions of Asian Development Bank (ADB) in Pakistan amounts to $242.48 million by the end of 2022. The latest fact sheet on Pakistan released by ADB showed total commitments in non-sovereign loans, equity investments and guarantees from ADB’s own funds in 2022 amounted to $1.1 billion for 37 transactions in eco
Pakistan, Uzbekistan and Afghanistan will sign a joint protocol on Tuesday (today) to connect the Uzbek rail network with Pakistan Railways. The route for this connection will pass through Termiz in Uzbekistan, Mazar-i-Sharif and Logar in Afghanistan, and culminate in Pakistan via the Kharlachi border crossing in Kurram. This route was finalised in a meeting of a trilateral working group of
The recent cut in the prices of petroleum may have earned the government some political mileage but has left the oil industry howling in grief for causing over Rs11 billion inventory losses in a fortnight due to “manipulation of (diesel) pricing”. The government had announced on July 15 a Rs9 and Rs7 per litre cut in the prices of petrol and high-speed diesel (HSD), respectively, for the curren
Despite rising inflows of dollars, the rupee continued its downward slide for the second consecutive session losing Rs1.67 against the greenback to close at Rs279.26 in the interbank market on Monday. The rupee declined by Rs1.67 against the dollar on Friday closing the week at Rs277.60, according to the State Bank of Pakistan. In the last two sessions, the dollar appreciated by Rs2.81, show
Pakistan Refinery Ltd (PRL) and Air Link Communication Ltd said on Monday they want to buy majority shareholding and control of Shell Pakistan Ltd, which is the third-largest oil marketing company (OMC) with a share of roughly eight per cent in volumetric sales. The two acquirers are initially eyeing the 77.42pc stake that the foreign sponsor of Shell Pakistan put on sale in June as part of “si