Commerce Minister Jam Kamal Khan chaired a high-level meeting on Thursday to address pressing issues in Pakistan’s export and business sectors. Acting on PM Sharif’s directive, a high-level committee was formed to tackle challenges faced by the business sector. Kamal stressed the need for effective decision-making by high-ranking officials. Expressing concern over the absence of key figures lik
The rate of return on the 12-month T-bill in the secondary market slumped to a 14-month low, falling below 20% on Thursday in anticipation of a deeper cut in the central bank’s key policy rate (interest rate) in early June 2024. The yield on the one-year T-bill reduced by up to 90 basis points or more in the secondary market following a similar situation seen in the paper auction held at the pr
The power sector has continued to bleed as the circular debt pile swells without any check. Though successive governments have attempted to find workable solutions, yet success has eluded them for years. The Pakistan Tehreek-e-Insaf (PTI) government, which remained in power from August 2018 to April 2022, left unsettled Rs1.6 trillion in circular debt. The debt accumulated to Rs3.3 trillion dur
Poland’s Ambassador Maciej Pisarkski on Thursday urged Pakistan to take immediate steps for making the life of foreign investors easier, who are badly suffering because of delay in payment of their dues and difficulties in keeping their machinery functioning. The ambassador made the remarks at a time when Pakistani authorities were trying to bring foreign investment amid external sector and bud
Days before Prime Minister Shehbaz Sharif’s visit to Beijing, Pakistan has prepared a new proposal to seek $15.4 billion in Chinese energy debt restructuring aimed at lowering energy prices for end consumers. The proposal involves spreading debt repayments over a longer period. This would, on one hand, reduce the outflow of foreign currency by about $550 million to $750 million per annum and, o