The State Bank of Pakistan (SBP) has expressed hope that the International Monetary Fund (IMF) will consider the economic hardships being faced by Pakistan in the wake of floods and soften its conditions, as the country is expected to receive $4 billion from multilateral creditors over the next couple of months. Besides, Pakistan has made foreign debt repayment of $4.6 billion so far in the cur
In line with market expectations, Pakistan’s central bank has left its key policy rate unchanged at 15% for the next seven weeks to support economic growth and contain inflation. “Based on currently available information, GDP (gross domestic product/economic) growth could fall to around 2% in the current fiscal year 2022-23 compared to the previous forecast of 3-4% before the floods,” said the Sta
Federal Minister for Aviation and Railways, Khwaja Saad Rafique has said that the government does not intend to sell or offer any stakes of the national flag-carrier, Pakistan International Airlines (PIA), to anyone. He further stated that the rumours of selling one of PIA’s prime properties in New York, the Roosevelt Hotel are also not true. Instead, the government is looking to reopen the hot
Pakistan has decided to continue its bilateral investment treaties with the European Community (EC) and South Asian countries which pose no risk of investor state dispute. The government has also decided to engage with the Malaysian side to add, amend and modify certain provisions relating to the definition of investment. Sources told the Express Tribune that the government has approved a strategy
Pakistan said on Monday that it may seek debt rescheduling from the bilateral creditors but again reiterated that timely payments would be made to the commercial and Paris Club lenders in a bid to strike a balance between growing financial needs and maintaining its creditworthiness. “We are okay with the bilateral debt rescheduling,” said Finance Minister Ishaq Dar in a conversation with leading n