The Privatisation Commission has started work to appoint a financial adviser to undertake the process for leasing of Roosevelt Hotel in New York for setting up a joint venture project for prospective mixed-use development. Following a decision taken by the Cabinet Committee on Privatisation last month, the commission has invited proposals for appointing the financial adviser. The financial a
Pakistan International Airlines (PIA) has resorted to ground several aircraft as it struggles to secure funds to maintain its operations for the next few months, during which time its core functions and non-core assets are expected to be put up for sale. The Ministry of Aviation issued a stern warning last week, telling the federal government that PIA currently grapples with a severe cash flow
With a gap of less than six months, the caretaker government is again working on imposing prohibitive regulatory duties on a longer list of luxury and non-essential import items as part of a broader strategy aimed at curbing the rapid depletion of the country’s scarce foreign exchange reserves. Simultaneously, the administration is also actively working to revive regionally competitive gas and
Equities settled at a lower level at the end of Thursday’s trading session as share prices oscillated within a small range. Topline Securities said the market sentiment remained directionless on the back of the latest auction of treasury bills that witnessed massive increases of 162 basis points and 213 basis points in three- and 12-month cut-off yields, respectively. The rise in the yields
The International Monetary Fund (IMF) and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities and countries’ digital transitions. The statement, released ahead of a G20 leaders summit in India this week, said the two institutions can help address mounting challenges facing the global economy — from increasing