Record rupee devaluation pushes total debt & liabilities to shoot up by Rs900 billion
An official stated the latest round of devaluation and exchange rate would assist in reducing the import bill which stood at a record $60.9 billion in the preceding FY18 and rein in current account deficit
Car manufacturers may hike prices, after record rupee devaluation
The interest rate hike by the central bank is also impacting auto financing, said an analyst
CPEC not behind Pakistan’s debt problem: Chinese FM
Chinese Foreign Ministry spokesperson Lu Kang said on Tuesday that Pakistan's debt problem was not caused by cooperation projects under the China-Pakistan...
Pakistan, China sign $200m agreements for seafood, steel and agri trade
China will invest $200 million in Pakistan’s seafood, steel and agriculture sector to boost bilateral business between the two Asian neighbours.
Pakistani officials...
Govt urged to ascertain factors weakening rupee
LAHORE: The Lahore Chamber of Commerce and Industry has urged the government to direct the Ministry of Finance as well as the State...
MoF fails to implement WB’s $400m finance management programme
-- Only 20pc of the total fund has been utilized to far
ISLAMABAD: As the government is going to introduce reforms in the public...
KCCI laments record rupee depreciation
-- Chamber president says rupee devaluation will result in skyrocketing inflation that would eventually lead to higher interest rates
KARACHI: Karachi Chamber of Commerce...
We didn’t want to approach the IMF: Fawad Chaudhary
Chaudhry mentioned the government was in talks with other countries but explained Pakistan was left with only 46 days of foreign exchange reserves to run the country
IMF chief economist not concerned about China’s ability to defend currency
On Tuesday, China’s central bank fixed the yuan’s official mid-point for trading at 6.9019 per dollar, edging close to the psychologically important 7.0 barrier and helping to send Asian stocks to a 17-month low
Govt committed to establishing water & hydropower projects
LAHORE: The Federal Minister for Water Resources Muhammad Faisal Vawda said on Monday that the government was committed to constructing water and hydropower...
Automobile sector to face the pinch, as car bookings plummet by 30 percent
The ban was enforced from the 1st of July of the current financial year 2018-19 and a source in the automobile industry shared the trend of car booking during this period reveals annual auto sales will plunge to 168,000 from 240,000 units
IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite
The IMF said in an update to its World Economic Outlook it was now predicting 3.7 percent global growth in both 2018 and 2019, down from its July forecast of 3.9 percent growth for both years
IMF not formally approached by Pakistan for financial assistance: Chief economist
The federal government on Monday announced that it is going to seek the International Monetary Fund’s (IMF’s) assistance in a bid to tackle the country’s financial woes
Govt informs FATF about measures taken against money laundering
Sources shared the APG team voiced its concerns over slow action on high-risk areas like banks, insurance companies, asset management companies and securities
Western and eastern routes of CPEC to be completed by next year
-- Project director says work on energy and infrastructure is being executed in the first phase
ISLAMABAD: China Pakistan Economic Corridor (CPEC) Project...