PAKISTAN owes the world about $100 billion and has to repay $21bn to foreign lenders during the current fiscal year. And during the next three years, it will have to return similar or larger amounts each year totalling about $70bn. So what happens four years from now? Will we have repaid about $90bn to our creditors and owe only $10bn? Unfortunately, no. We have no resources to repay our lender
Part of the 820 wagons procurement contract, Pakistan Railways (PR) is set to receive the first consignment of completely built units (CBUs) of 70 high-capacity flat wagons from China on Monday. “Despatched on Dec 25 by the Chinese firm, the wagons will reach Karachi port on Monday,” PR’s Chief Mechanical Engineer Abdul Haseeb told Dawn on Saturday. “These are the flat wagons on which container
In a move to encourage exporters of software and IT&IT-enabled services to bring more dollars into the country, the State Bank of Pakistan (SBP) has allowed 35 per cent retention of their earnings outside the country. For meeting this objective, the SBP has amended the Foreign Exchange Regulations and advised the banks to mandatorily allow, till March 31, 2023, retention of 35pc of their export pr
The banking sector will be exposed to a “systemic risk” should the prevailing uncertainty continue for another few months, Habib Bank Ltd CEO Muhammad Aurangzeb said on Friday. Speaking at a summit on financial crimes, the CEO of the largest commercial bank warned the participants about a “big blow to the economy” if the stakeholders didn’t make the right decisions swiftly. “Even the smalles
Eggs for breakfast are pretty universal. Be it the tycoons cocooned behind electric fences and guards in fortresses in Defence or the lower-middle income chap who has a quick bite in the morning before setting off on his two-wheeler, omelettes are a fairly ubiquitous breakfast. A quick informal poll reveals that the most common omelette type is one with two eggs, some onion, and a tomato. Using