Finance Minister Muhammad Aurangzeb arrived in Washington on Sunday with his team to participate in the IMF and World Bank’s spring meetings and initiate talks on a new financial package ranging from $6 billion to $8 billion. The IMF ministerial meetings and events are scheduled for April 17-19, with additional activities planned from April 15-20. Mr Aurangzeb and his team have a packed sc
While the impact of the Middle East escalation is yet to materialise, the higher international market is estimated to push up the prices of petrol and high-speed diesel by about Rs2.50 and Rs8.50 per litre, respectively on Monday (April 15) for the next fortnight, despite a decline in the import premium and a slightly improved exchange rate. Informed sources said the prices of petrol and HSD ha
Amid growing prospects of realising Saudi investment in diversified sectors, the stock market on Monday turned in another record-breaking session in Ramazan, tossing the KSE 100-share index to an all-time high, closing above 69,500, though the volume fell day-on-day. Ahsan Mehanti of Arif Habib Corporation told Dawn that Saudi Arabia’s commitment to fast-track the initial tranche of $5 billion
IN recent years, Pakistan’s fiscal situation has deteriorated significantly due to persistently low tax revenue collection and burgeoning public expenditure. This has led to large budget deficits year after year, while a massive debt has been accumulated in the attempt to plug the gap. The situation has had a spill-over effect on the external sector, as reflected in the recurrence of balance-of
Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman have agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan, according to the joint statement issued by both countries. The two leaders had held a meeting a day ago during the prime minister’s visit to Saudi Arabia in his first foreign trip since his election. In January last year, the