China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building “Belt & Road” infrastructure, according to a study published Tuesday. Almost 80 per cent of the rescue lending was made between 2016 and 2021, mainly to middle-income countries including Argentina, Mongolia and Pakistan,
Share prices bounced within a small range throughout the session after trading began on the lower side on Tuesday. Arif Habib Ltd said investors preferred to stay cautious owing to ongoing political and economic worries. Their participation remained dull as they waited for some clarity on the revival of the International Monetary Fund (IMF) loan programme. Volumes on the mainboard of the exchan
A record increase in returns on treasury bills and Pakistan Investment Bonds (PIBs) has failed to attract a single dollar. The State Bank of Pakistan (SBP) increased the interest rate by 300 basis points to 20 per cent and the discount rate to 21pc on March 2 to counter high inflation. Before announcing the interest rate hike, the government had already increased the treasury bill returns to
The government should revise its tight gas policy to nudge energy companies towards exploring natural gas that’s obtained from reservoir rocks with low permeability using advanced technology. Addressing a seminar organised by CFA Society Pakistan on Tuesday, energy sector expert Muhammad Asim Subhani said each well that’s dug for tight gas must get a third-party certification in order to receiv
The outstanding auto financing continued to decline for the eighth consecutive month in February dipping almost 9 per cent to Rs326 billion from Rs357bn in the same month last year, data released by the State Bank of Pakistan (SBP) showed on Tuesday. Samiullah Tariq, head of Research Pak Kuwait Investment Company, said car financing would remain depressed in coming months due to a massive rise