An image of the Tethyan Copper Company (TCC) gold and copper mining exploration project site in Reko Diq, Balochistan. -TCC Manara is preparing to buy a stake for around $500 million to $1 billion: FT. A Saudi investment would be good for the project: the head of Barrick. The Saudi Minister of Mines confirms that … Read more
The seal of the International Monetary Fund is seen in the headquarters building in Washington, DC. — AFP/File On April 29, 2024, Pakistan successfully concluded a nine-month stand-by arrangement with the International Monetary Fund (IMF). Building on this milestone, the country transitioned to a 37-month Extended Financing Facility (EFF), equivalent to 261.9 percent of Pakistan’s … Read more
Finance Minister Muhammad Aurangzeb during an interview Finance Minister Muhammad Aurangzeb said the government intends to launch Panda Bond by June this year to strengthen the country’s presence in China’s capital markets. “Pakistan plans to raise around $200 million from Chinese investors through the issuance of the Panda Bond,” the finance minister said in an … Read more
A man walks with bags of supplies on his shoulder to deliver them to a nearby store at a market in Karachi, Pakistan, June 11, 2024. — Reuters The IMF forecasts Pakistan’s GDP growth of 4% in 2026. Expects a 2.6% drop in energy commodity prices in 2025. It forecasts a 2.5% increase in the … Read more
Donald Trump (center) and Gentry Beach (right) gesture in this file photo. – Journalist LONDON: A Texan hedge fund manager and business partner of the Trump family has praised Pakistan’s sacrifices in the war against terrorism, advising President-elect Donald Trump to make Pakistan-US relations stronger than before. Gentry Beach, who has been a close ally … Read more
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks during an interview with Reuters at the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. — Reuters Exploring how we can help Pakistan in certain infrastructure: minister. According to him, without infrastructure, the economic aspects of the transaction are not attractive. Malik … Read more
A currency dealer counts US dollars at a store in Karachi, May 19, 2022. — AFP The country’s foreign exchange assets also include gold reserves of $5.5 billion. Commercial bank liquid reserves of $4.7 billion are not included. Increase in foreign exchange reserves due to strict import restrictions: expert. KARACHI: Pakistan’s total foreign exchange assets … Read more
A man reads the newspaper while selling betel leaves, cigarettes and sweets at a shop in Karachi. — Reuters/File A useful monetary policy to support economic activity: report. Forecasts weaken agricultural growth due to heavy rains. Wheat and Cotton Expected to Perform Poorly in FY2025. ISLAMABAD: The Asian Development Bank (ADB), in its recent publication, … Read more
U.S. dollar bills are seen in this photo taken on February 12, 2018. — Reuters December exports amounted to $2.84 billion, an increase of 0.67% year-on-year. Imports climbed to $5.285 billion, registering an increase of 14% year-on-year. Monthly comparisons showed a 47% increase in the trade deficit. ISLAMABAD: Pakistan’s trade deficit reached $2.44 billion in … Read more
Advisor to the Prime Minister on Political and Public Affairs, Rana Sanaullah Khan, addressing a press conference, March 1, 2023.— NNI Rana Sanaullah calls for unity for the development of Pakistan. Prime Minister’s aide urges opposition to refrain from any “attacks”. The PTI senator highlights the need for the supremacy of the rule of law. … Read more