The World Bank has approved $1 billion in additional financing for the Dasu Hydropower Project (DHP) in Khyber Pakhtunkhwa’s Upper Kohistan district, it emerged on Tuesday. “The World Bank’s Board of Executive Directors today approved $1 billion in a second round of additional financing for the Dasu Hydropower Stage I (DHP I) Project,” the global bank said in a press release issued late last ni
Amid growing uncertainty about the economic outlook ahead of the budget unveiling, which has been delayed to June 12, the bearish spell continued at the stock market for the fourth consecutive session on Thursday, dragging the benchmark index below the 74,000 level. Ahsan Mehanti of Arif Habib Corporation stated that stocks closed lower due to concerns about economic uncertainty. Investor expec
Moody’s Ratings has projected that Pakistan will draw its foreign exchange reserves to repay the maturing foreign debt, which will keep near-term default risks high. “Argentina, Pakistan and Tunisia have large market debt repayments over the next two years compared to their foreign exchange reserves. Barring new or additional foreign currency financing from development partners, these sovereign
The cabinet has blocked the import of banned wildlife from Africa by turning down a proposal floated by the Ministry of National Food Security and Research. Sources told The Express Tribune that the food security ministry sought a one-off relaxation in the application of Pakistan Animal Quarantine Rules 1980 for the import of wildlife from Africa. However, a recent cabinet meeting dismissed
Eminent business leaders have expressed grave concern about the closure of over 50% factories in every industrial zone of the country and cautioned that if the government did not take measures on a war-footing, it may turn out to be a disaster for the economy. They have pleaded for the immediate abolition of the two-tier system of taxes-cum-levies as it takes a heavy toll on the formal industri