A person counts dollar bills in this illustrative image taken on May 30, 2022. — Reuters Pakistan receives $259 million from bilateral creditors. Multilateral creditors pay $721 million to Islamabad. $19.39 billion in foreign loans planned for the current fiscal year. ISLAMABAD: In its attempt to address the various challenges facing the economically cash-strapped country, … Read more
The Adani Group logo is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. — Reuters Indian conglomerate Adani Group said Wednesday it has lost nearly $55 billion in a stock market meltdown since U.S. prosecutors last week charged its founder and other officials with fraud. … Read more
ISLAMABAD: The Balochistan government has collected Rs 2.5 billion from the mining sector in the current financial year, despite the coronavirus pandemic and the subsequent lockdown that was imposed to curb the spread of the virus. The government has collected a huge amount from the mining sector and deposited it in the provincial treasury, a … Read more
Representative image showing two employees working on a gas pipeline. — AFP/File SNGPL began reducing its gas outputs from November 13. The country’s main gas pipeline is now used for storage. The data shows that the pipe pack pressure is still not reduced. ISLAMABAD: Amid fiscal challenges facing the country’s energy sector, it has been … Read more
Finance Minister Muhammad Aurangzeb speaks during an interview with Reuters at his office in Islamabad, July 19, 2024. — Reuters PTI marches towards Islamabad to stage protest. “Tax revenues are decreasing due to confinement and protests.” The industrial sector faces a loss of Rs20 billion in the provinces: FinMin. Pakistan is suffering a huge loss … Read more
This image shows workers installing a solar panel. — Reuters/File Rooftop solarization and net metering reduce grid demand by 8-10%. Solar users save up to Rs20 per unit cost for net metering setup. Report suggests bill of Rs 1,000 for domestic net metering users. ISLAMABAD: In a worrying revelation, it has emerged that unregulated solarization … Read more
Cars drive through the territory of the United Nations COP29 climate change conference, in Baku, Azerbaijan, November 22, 2024. — Reuters Australia, EU and US agree to increase climate finance. EU countries want China and Gulf countries to join them in contributing. Low funding will affect their ability to reduce greenhouse gas emissions. BAKU: The … Read more
U.S. President Joe Biden delivers remarks during a launch event for the Global Alliance Against Hunger and Poverty during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Brazil, Monday, November 18, 2024 . WASHINGTON: US President Joe Biden has pledged a contribution of US$4 billion to the World Bank’s International … Read more
The International Monetary Fund logo is seen inside the headquarters in Washington, United States, October 9, 2016. — Reuters Potential delay linked to Saudi Arabia conditions on the Reko Diq project. Sources suggest Pakistan has a backup plan if Saudi oil facilities shut down. The IMF mission discusses external financing in the context of economic … Read more