In eight months and one week of this fiscal year — between July 1, 2023, and March 8, 2024 — the federal government’s budgetary borrowings from commercial banks more than doubled to about Rs4.2 trillion from Rs2.01tr. Meanwhile, the private sector’s net borrowings slumped to Rs73 billion from Rs246bn. Want to know more about why banks and bankers generally remain happy with the government and v
Foreign Minister Ishaq Dar has said PIA flights to the UK will resume “in weeks, not months”, and that he took up the matter of banned flights of the national carrier with British government officials here over the weekend. Mr Dar made this announcement during a brief visit to London on his return from Brussels, where he attended the First Nuclear Energy Summit. In London, Mr Dar met And
Just before the end of its tenure, the caretaker government allowed a cost escalation of about 30pc to “ongoing contracts” of hundreds of development projects, financed under the Public Sector Development Programme (PSDP) of the federal government. The country’s large development portfolio has always been subject to time and cost overruns, leading to repeated revisions in financial costs, besid
Prime Minister Shehbaz Sharif has directed authorities to ensure foolproof security for workers of the Reko Diq gold and copper mining project and for the logistics and transport from the project’s site to Gwadar port. Mr Sharif issued the directive while chairing a meeting on the Reko Diq project in Lahore, the PM Office said in a statement on Sunday. A delegation from the Canadian mining c
Pakistan Stock Exchange (PSX) on Wednesday extended its bull-run for the third successive day as the International Monetary Fund (IMF) and Islamabad reached a staff-level agreement following the final review under a $3 billion standby arrangement. Earlier, trading kicked off with optimism that the staff-level agreement would pave the way for the release of last loan tranche of $1.1 billion in M