IN her remarks to a German broadcaster on the sidelines of the Munich Security Conference last week, IMF managing director Kristalina Georgieva set out the agenda for good fiscal governance in Pakistan. “What we are asking for are steps that Pakistan needs to take to be able to function as a country and not to get into a dangerous place where its debt needs to be restructured,” she said. Her ad
The 8th Pakistan-Uzbekistan Joint Ministerial Commission started in Tashkent to explore ways to enhance the economic, trade and commercial relations between the two countries and speed up the implementation of the already agreed agreements. Finance Minister Ishaq Dar co-chaired the meeting. On the sidelines of the ministerial, Mr Dar also called on Uzbekistan President Shavkat Mirziyoyev and
Notwithstanding the full-page ads to mark the successive commissioning of 2,400-megawatt coal power plants in Thar, the state-backed sole electricity buyer is unable to despatch more than 75 per cent of the aggregate capacity. Only 1,800MW of the 2,400MW Thar power plants can be evacuated at any given time owing to transmission constraints. Delays in the construction of the second transmission
President Dr Arif Alvi on Thursday signed the Finance (Supplementary) Bill, 2023, generally known as the mini-budget, as the government rushed to fulfil the International Monetary Fund’s (IMF) conditions to unlock an economic bailout that the country needs to avoid the risk of default. The Prime Minister Secretariat sent the bill to the President Secretariat on Wednesday evening for assent, two
Pakistan’s foreign exchange reserves held by the central bank rose by $66 million to $3.258 billion in the week ending February 17, the State Bank of Pakistan (SBP) said on Thursday. The SBP said total liquid foreign reserves stood at $8.726 billion. Pakistan, which is a $350bn economy, is facing economic turmoil, with a balance of payment crisis and only enough foreign exchange reserves to