Pakistan ‘secures’ $2 billion loan rollover from China

Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. — PPI ISLAMABAD: In a major boost to the country’s foreign exchange reserves, China has rolled over $2 billion to Pakistan, Ministry of Finance sources told Geo News on Wednesday. Pakistan has borrowed $2 billion from China […]

Pakistan, UAE eye date palm cultivation | The Express Tribune

ABU DHABI: Pakistan and the United Arab Emirates (UAE) on Monday signed a Memorandum of Understanding (MoU) aimed at boosting agricultural innovation and research related to the development and promotion of various aspects of date palm cultivation and the allied industry. Ambassador of Pakistan to UAE Faisal Niaz Tirmizi and General Secretary of Khalifa International […]

Govt approves work on Pakistan section of IP gas pipeline project | The Express Tribune

ISLAMABAD: The Cabinet Committee on Energy (CCoE) granted approval on Friday for the initiation of work on the 80-kilometer segment of the Iran-Pakistan (IP) gas pipeline project within the country. According to a press release, the committee, acting on a recommendation from the Petroleum Division, has endorsed the commencement of the project, starting from the […]

Pakistan eyes $20b in trade with Saudi Arabia | The Express Tribune

ISLAMABAD: Observing that the current trade volume falls short of expectations, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz said that Pakistan aims to lift bilateral trade with Saudi Arabia upto $20 billion. Addressing the Pakistan-Saudi Business Forum in Riyadh on Thursday, the minister said that legislation would be enacted to promote bilateral investment […]

Pakistan faces default risks sans IMF deal: Fitch

Board outside International Monetary Fund (IMF). —AFP Amid prevailing political uncertainty following the February 8 general elections marred by rigging allegations, Fitch Ratings has highlighted the default risks that Pakistan faces if it fails to secure the next bailout package by the International Monetary Fund (IMF). The global rating agency said on Monday that a […]

Work on IP pipeline to begin in Pakistan | The Express Tribune

design: Ibrahim Yahya ISLAMABAD: Islamabad has engaged Tehran by committing to complete the first phase of the 80-kilometer Iran-Pakistan (IP) gas pipeline project within Pakistan’s territory to avoid a looming $18 billion penalty. According to reports, Iran has granted an extension in the deadline of the IP gas pipeline project by 180 days until September […]

Late recovery pulls Pakistan stocks out of early freefall

A broker talks on a phone as he watches latest share prices at the Pakistan Stock Exchange in Karachi on January 27, 2023. — AFP The Pakistan Stock Exchange (PSX) faced significant turbulence today, plunging over 2,000 points initially due to the uncertain outcome of the recent general elections.  Despite this setback, the market demonstrated […]

Pakistan, Germany ink deals worth €45m | The Express Tribune

ISLAMABAD: Pakistan and Germany on Wednesday signed Euro 45 million assistance agreements on Technical Development Cooperation for starting new bilateral cooperation projects. Dr Kazim Niaz, Secretary for Economic Affairs Pakistan, and Alfred Grannas, German Ambassador to the Islamic Republic of Pakistan, witnessed the ceremony for the signing of Euro 45 million agreements on Technical Development […]

SBP notifies bank holiday on February 8 for Pakistan elections

The State Bank of Pakistan (SBP) on Tuesday announced bank holiday across the country on February 8 (Thursday), the day of much-anticipated general election. Pakistan is set to stage the most crucial polls in its history as the ballot takes place in a few days, after more than five years. A notification issued by the […]

Petrol price increases in Pakistan

A person fills their car’s tank at a fuel station in this undated file image. — AFP The caretaker government has hiked the petrol price by Rs13.55 per litre for the next fortnight, on the recommendation of Oil and Gas Regulatory Authority (OGRA).  Updated POL prices go into effect from February 1 at midnight. “Government […]

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