Saudi Arabia will provide USD3 billion in additional support for Pakistan to help the South Asian nation bridge a multi-billion dollar gap in its finances linked to an upcoming debt repayment to the United Arab Emirates. The extra funding for Pakistan comes on top of Riyadh extending the rollover arrangement for an additional USD5 billion deposit for a longer period, Finance Minister Muhammad A
The war in the Middle East has intensified strains on an already fragile global fiscal situation, with higher interest rates and rising energy prices already fuelling calls for support from emerging markets and developing economies, the International Monetary Fund said on Wednesday in its Fiscal Monitor report. Rodrigo Valdes, the IMF’s new fiscal affairs chief, said countries should skip fuel
Pakistan’s automotive sector continues to face structural challenges, including policy inconsistency, low capacity utilization, and rising reliance on used car imports, even as it retains significant growth potential within the regional market. These issues were discussed during a recent industry engagement hosted by Indus Motor Company, where company leadership shared insights on market trends
Pakistan is considering buying liquefied natural gas (LNG) on the spot market to offset supply disruptions caused by the Iran war but would favour government-to-government deals to avoid having to pay steep premiums, its petroleum minister said. Qatar’s force majeure has forced Pakistan to make costly spot purchases or find alternative fuels ahead of summer demand. Spot LNG cargoes have surg
The US dollar held near its lowest level since early March against major currencies on Thursday, as the White House’s optimism over a peace deal with Iran buoyed sentiment and encouraged traders to shed safe-haven positions. President Donald Trump said the US-Israeli war on Iran was “close to over,” while the White House expressed optimism about a deal, saying more in-person talks would like