Pakistan would have to complete a set of prior actions — mostly through binding parliamentary approvals and legislation — within the next 40 days in order to reach a formal staff level agreement (SLA) with the International Monetary Fund (IMF) for its next bailout programme, as a fortnight-long dialogue winds down. Informed sources said Pakistani authorities and an IMF staff mission, led by Na
The government on Wednesday raised Rs96.88 billion through the auction of Pakistan Investment Bonds (PIBs) at slightly reduced cut-off yields. The cut-off yield for three-year bonds was reduced by just one basis point to 16.64 per cent, for five-year PIBs by 3bps to 15.45pc and for 10-year bonds by 5bps to 14.29pc. The government borrowing through PIBs was well below the target of Rs190bn.
Chinese companies have expressed keen interest in expanding and upgrading Pakistan Refinery Ltd (PRL), which presents a significant opportunity. PRL expressed its excitement about the development in a notice to the Pakistan Stock Exchange on Wednesday. “In a significant step towards enhancing Pakistan’s refining capabilities, PRL senior management recently visited China to engage with engineeri
Pakistan’s gross domestic product (GDP) and per capita income increased in dollar terms during 2023-24, indicating a revival in the country’s overall output compared to the previous year. However, the economy’s size remains lower than $375.449 billion recorded in FY22, indicating that GDP growth has slowed under the PMLN-led coalition government. On Wednesday, the National Accounts Committee (N
The Central Development Working Party (CDWP) on Wednesday approved seven development projects worth Rs23 billion and recommended four projects to the Executive Committee of the National Economic Council (Ecnec) for consideration. Among these, three projects are worth Rs82.24bn, while the fourth project, Main Line (ML-1), costing $6.7bn, has been recommended to Ecnec for further consideration.