The method that banks use for calculating their expected credit cost will change under the revised set of accounting standards that may lead to a higher expense for commercial lenders in the medium term. Speaking to Dawn on Thursday, JS Global Capital Ltd Head of Research Amreen Soorani said banks will start reporting their loss expectations on investments and loans under the new accounting re
The 969-megawatt Neelum Jhelum Hydropower Project would get back to power generation by July after a year-long closure due to tunnel collapse and K-Electric (KE) is entering into a 10-year agreement with the federal government for enhancing its intake from national grid to 2,600MW. These were the upshot of the two separate public hearings on increase in fuel charges for the consumers of KE and
The central bank’s foreign exchange reserves dropped for the first time in six weeks, shrinking by some $354 million during the week that ended on March 24, it said on Thursday. Meanwhile, China is working on a request from cash-strapped Pakistan to roll over a $2 billion loan that matured last week, a top finance ministry official told Reuters, amid a stalemate in bailout talks with the Intern
“The real beauty in the Belt and Road Initiative (BRI) is the spirit of sharing, China shares its success with developing countries,” said Ahsan Iqbal, Minister for Planning, Development and Special Initiatives, on Wednesday. During the ongoing Boao Forum for Asia (BFA) Annual Conference 2023 in China, Iqbal said, “BRI welcomes everyone to jointly explore opportunities for shared growth and pro
Currency dealers in open market have offered loans of $24 billion to the government for the next two years to help it stay away from the International Monetary Fund (IMF) programme, which has badly hit Pakistan’s economy. Talking to The Express Tribune, Exchange Companies Association of Pakistan (ECAP) President Malik Bostan said, “We have offered $1 billion a month in financing to the governme