ADB to provide $7.5bn to Pakistan in three years

ISLAMABAD: The Asian Development Bank (ADB) has planned to support Pakistan with lending of $7.528 billion for various development projects during the next three years.In its...

No extra burden on foreign debt due to rupee devaluation: Hammad Azhar

ISLAMABAD: Minister of State for Revenue Hammad Azhar said on Thursday that devaluation of rupee has not put an extra burden on foreign debt, as...

Cabinet to fill vacant slot of Port Qasim Authority chairman soon

ISLAMABAD: The federal cabinet, while approving a stop-gap arrangement to run the affairs of Port Qasim Authority (PQA), has decided to fill the vacant slot...

Creation of wealth necessary for poverty alleviation: PM

Prime Minister Imran Khan has termed creation of wealth imperative for alleviating poverty from the country, saying businesses must prosper to achieve this objective.“We...

SBP reserves shrink by $242m, stand at $7.2bn

The total liquid foreign reserves held by the country stood at $13.7 billion on December 7, 2018.According to a statement issued by the central...

SBP governor hints further devaluation of rupee

ISLAMABAD: As the experts have already expected a further decrease in the value of Pakistani currency against the dollar, the State Bank of Pakistan (SBP)...

Saudi Arabia to make its ‘largest foreign investment’ in Pakistan: Asad Umar

ISLAMABAD: Federal Minister for Finance Asad Umar said on Thursday that Saudi Arabia is about to make “the largest foreign investment in Pakistan’s history” which...

Pak-Turkey ties need to be materalised: envoy

KARACHI: Keeping in mind that the trade volume between Turkey and Pakistan is limited to only $700 million, it is imperative that both countries...

Afghanistan opens new trade route with aim of building link to Europe

The corridor is the latest in a series of energy and transport projects aimed at opening Afghanistan up as a hub at the heart of Central Asia

‘Development of Balochistan among key agendas of upcoming JCC meeting’

ISLAMABAD: Planning, Development and Reform Minister Makhdoom Khusro Bakhtiar met Balochistan Chief Minister Jam Kamal Khan at Balochistan House on Thursday.Senators and Members National Assembly...

PM directs BOI to present plan on ease of doing business

ISLAMABAD: Prime Minister Imran Khan has directed the Board of Investment to formulate and present a comprehensive strategy in order to simplify the procedures related...

ADB, Pakistan sign $284m agreement for power transmission enhancement

NTDC is the implementing agency of the tranche 3 project under the existing Multi-tranche Financing Facility (MFF) amounting to $810 million

Pakistan’s GDP growth to slow to 4.3%-4.7% in FY19 and FY20: Moody’s

Moody's said a moderate but increasing level of external government debt also leaves the country’s finances vulnerable to sharp currency devaluations

Rupee to weaken to Rs148 against greenback by end of FY19: Fitch Solutions

It expects the trade deficit to narrow over the coming months irrespective of oil price dynamics taking the country’s dollar shortage and recent rupee weakness into context

USAID, WAPDA sign $78m implementation letter for Mangla refurbishment

MIRPUR: Pakistan Water and Power Development Authority (WAPDA) and United States Agency for International Development (USAID) on Wednesday signed Project Implementation Letter (PIL)-2 worth $78...

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MoF to seek cabinet’s approval over appointment of NBP chief

ISLAMABAD: The Ministry of Finance (MoF) is considering approaching the federal cabinet over the appointment of Arif Usmani as National Bank of Pakistan (NBP)...