Pakistan on Wednesday sought the US support in reviving the IMF programme to facilitate soft landing of its economy marred by exogenous challenges like floods and adverse global economic conditions. During a meeting on Wednesday, Finance Minister Ishaq Dar asked a visiting US delegation to help convince the Washington-based multilateral lender to be lenient towards Pakistan in restoring the pro
Amid fiscal challenges, the government has increased development funds for parliamentarians by almost 30 per cent from budgetary allocations to Rs90 billion and is set to distribute about Rs8.4bn to farmers through database of the Sindh government. This was the crux of a meeting of the Economic Coordination Committee (ECC) of the Cabinet on Wednesday that also approved almost Rs1bn in additiona
Eni said on Wednesday that the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure. The Italian major has a 15-year deal to supply Pakistan LNG with one cargo a month from 2017 to 2032. “February LNG delivery disruption is beyond the reasonable control of ENI and due to an event of force m
Bulls regained their control of the Pakistan Stock Exchange on Tuesday as investors celebrated the positive triggers on the economic front. Arif Habib Ltd said investors welcomed the much-needed clarity provided by the monetary policy statement announced a day ago. The index of representative shares opened in the positive range and stayed at an elevated level throughout the trading session.
A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region’s stocks, currency and bonds. Warmer temperatures and well-filled gas storage facilities mean there’s less concern about power shortages and sky-high energy bills. That, along with China reopening its economy at breakneck speed,