Chinese Bank approves rollover of $1.3bln loan for Pakistan: Dar
Finance Minister Ishaq Dar says that the Chinese Bank ICBC has approved rollover of 1.3 billion US dollar loan after completing the necessary formalities. In…
Business
Rupee claws back on Dar’s assurance of IMF deal
The Pakistan rupee gained its ground against the US dollar after the market gained hope on Finance Minister Ishaq Dar’s assurances of striking a deal…
Negotiations with IMF ‘about to conclude’, staff-level pact likely next week: Dar
Finance Minister Ishaq Dar said on Thursday that Pakistan’s negotiations with the International Monetary Fund (IMF) related to the completion of the ninth review of…
SBP hikes policy rate by 300bps, highest since October 1996
The State Bank of Pakistan (SBP) announced on Thursday that it had increased the interest rate by 300 basis points (bps) to 20 per cent…
PKR tumbles by nearly Rs19 against US dollar in interbank over IMF delays
The Pakistani rupee’s value declined sharply in the interbank trading on Thursday with the local currency falling by Rs18.89 against the US dollar. According to…
Moody’s downgrades Pakistan’s credit rating to ‘Caa3’
Moody’s Investors Service has downgraded the government of Pakistan’s local and foreign currency credit ratings to Caa3 from Caa1 in the wake of the drop…
President Alvi approves Finance Bill 2023
President Dr Arif Alvi on Thursday approved the Finance (Supplementary) Bill 2023, also known as the mini-budget. The approval was given under Article 75 of…
Hike in petrol, diesel prices challenged in LHC
A plea was filed in the Lahore High Court (LHC) on Thursday, challenging the recent increase in prices of petroleum products. The plea has been…
Govt jacks up gas prices by 112%
The government on Wednesday sharply increased the natural gas tariff by up to 112% for domestic (everyday consumers) and general industries, including export-oriented sectors, captive…
Indian tax officers search BBC offices for second day
Indian tax officers searched the BBC’s offices in New Delhi and Mumbai for a second day on Wednesday, two sources said, as controversy swirled over…