ISLAMABAD (APP) – Pakistan and Turkey signed multiple Memorandums of Understanding (MoUs), protocols, and cooperation agreements on Thursday to strengthen bilateral ties in a variety of sectors during Turkish President Recep Tayyip Erdogan’s visit to Pakistan. Prime Minister Shehbaz Sharif and President Recep Tayyip Erdogan watched the exchanging of agreementsContinue Reading
DAVOS (Web Desk) Finance Minister Muhammad Aurangzeb stated on Tuesday that Pakistan has finalized terms for a $1 billion loan from two Middle Eastern banks. The loans, which have an interest rate of 6 to 7 percent, include a bilateral agreement and a trade finance arrangement, both with short termsContinue Reading
Qatar Airways has closed its offices in Pakistan as part of a cost-cutting initiative. Despite the shutdown of these offices, the airline announced that flights will continue as scheduled. According to sources, the airline’s move to close its offices would not effect flight operations, but will have an impact onContinue Reading
ISLAMABAD: Pakistan’s exports increased significantly in the fiscal year 2023–24 as a result of the Special Investment Facilitation Council’s (SIFC) activities. The Pakistan Bureau of Statistics reported that, in comparison to the previous fiscal year, exports of Pakistani goods increased by 10.54% to $30.64 billion. FY 2024 imports fell byContinue Reading
ISLAMABAD (APP) Deputy Prime Minister and Foreign Minister Ishaq Dar stated on Wednesday that Pakistan has a big potential to join the G-20 with fundamental reforms to its economy. He stated that the administration is firmly dedicated to structural reforms in the country’s economy, including capital market and corporate sectorContinue Reading
ISLAMABAD (APP) – At a meeting of the Monetary Policy Committee (MPC) on July 29, the State Bank of Pakistan (SBP) will declare its monetary policy. SBP sent a press statement announcing that the MPC would meet on Monday, July 29 to decide on the Monetary Policy. It further statedContinue Reading
ISLAMABAD – The Central Power Purchasing Authority (CPPA) has requested a rise in electricity pricing for one month due to fuel cost adjustments. It has filed a petition with the National Electric Power Regulatory Authority (Nepra) requesting a Rs2.10 per unit increase in the power tariff. Nepra will consider theContinue Reading
BRUSSELS Reuters: The European Union and Australia said on Tuesday that negotiations on a proposed free trade deal had fallen short due to outstanding issues, particularly with regard to agricultural exports. Australia and the EU began discussions in 2018, and they had planned to reach a conclusion this week. However,Continue Reading
(Web Desk) ISLAMABAD – Tuesday saw the announcement by Pakistan’s Finance Minister Ishaq Dar that the country had received $2 billion from Saudi Arabia. This was a significant event considering that the International Monetary Fund (IMF) had been urging Pakistan to find external finance to cover the country’s needs forContinue Reading
Reuters: ISLAMABAD The recently proposed budget for Pakistan received criticism from the International Monetary Fund (IMF) on Thursday, dealing a blow to the cash-strapped nation only two weeks before the end of its bailout programme. Pakistan hardly has enough foreign exchange reserves to pay for imports for a month. TheContinue Reading