Pakistan cannot afford the risk of exiting the International Monetary Fund (IMF) programme with $100 billion in external financing requirements in the short to medium term, said Minister of State for Finance Ali Pervaiz Malik. The statement underscores the country's dependency on foreign creditors, which has limited its options and hindered its desire for rapid economic growth due to weakened e
Despite an ample flow of positive economic data, including a sixth straight cut in the interest rate, the Pakistani shares witnessed a broad-based bloodbath as nervous investors continued unloading their positions following the confirmation of the suspension of US aid to Pakistan, pushing the benchmark index further lower below 112,000 intraday on Tuesday. The index hit an intraday low of 111,4
HOURS after the State Bank of Pakistan (SBP) announced its monetary policy decision cutting the key policy rate by one percentage point, the business community was in an uproar. They wanted more. Taking the lead in this clamour for faster rate cuts is the apex chamber of the country, the Federation of Pakistan Chambers of Commerce and Industry. In a testy statement issued immediately after the
Pakistan will present three high-impact projects worth $580 million in hydropower and communication sectors to secure funding at the fourth international conference on financing for development in Spain in June. The United Nations Development Programme (UNDP) has completed feasibility studies of the three SDG-aligned projects, which include $38.4m for a 10.96MW Mehar hydropower project in Kasur
Commerce Minister Jam Kamal Khan assures the European Union of adhering to 27 international conventions to avail of the trade benefits under the Generalised Scheme of Preferences Plus (GSP+) scheme. On Tuesday, the minister gave the assurance at a meeting with EU Special Representative for Human Rights Ambassador Olaf Skoog to discuss ways to strengthen the partnership through trade and economi