Talks with Saudi Arabia on the sale of stakes in the multibillion-dollar Reko Diq gold and copper mine will begin soon, the head of the Planning Commission said on Tuesday, as a share-price evaluation of the project is now complete. Talking to the media, Dr Jehanzeb Khan stressed that the $70 billion foreign direct investment anticipated through the Special Investment Facilitation Council (SIF
The International Monetary Fund (IMF) has advised Pakistan against creating a group of preferred investors or distortions in the country under the Special Investment Facilitation Council (SIFC) and to ensure transparency and accountability in its business deals. Deputy Chairman Planning Commission Dr Jehanzeb Khan told economists and journalists that the visiting fund mission had raised questio
Bulls dominated the trading floor at the Pakistan Stock Exchange (PSX) for the third consecutive session on Monday, leading the benchmark index to hit another all-time high. Arif Habib Corporation analyst Ahsan Mehanti said upbeat data on exports and home remittances, along with a fall in bond yields in the latest auction of Pakistan Investment Bonds, triggered the rally that culminated in shar
Fourteen years ago, in FY10, Pakistan’s top 10 destinations for goods exports included the USA, UAE, Afghanistan, China and the UK, respectively. A decade later, in FY20, the top five export destinations changed a bit. The USA remained top but was followed by China, UK, UAE and Germany. Afghanistan disappeared from the list, data compiled by the State Bank of Pakistan reveals. These five countries
Standard Chartered Bank Pakistan Ltd has signed an unfunded risk-participation agreement with the International Finance Corporation (IFC), said a press release on Monday. The $200 million rupee-equivalent programme will see the IFC cover 50 per cent of the commercial bank’s risk against short-term trade and working capital funded loan facilities for corporate clients. “Standard Chartered and