A parliamentary panel on Tuesday sought a report from the Customs authorities regarding the whereabouts of petroleum products worth Rs 222 million that were seized over the past five years. The sub-committee of the Senate Standing Committee on Interior and Narcotics Control was held here on Tuesday under the convenership of Senator Saifullah Abro. The meeting discussed the alleged theft of 2,82
The International Monetary Fund cut its growth outlook on Tuesday due to Iran war-driven energy price spikes and supply disruptions and warned that the global economy would teeter on the brink of recession if the conflict worsens and oil stays above USD100 per barrel through 2027. With massive uncertainty over the Middle East conflict gripping finance officials gathering for IMF and World Bank
Pakistan is considering Eurobonds, loans from other countries and commercial debt to replace a USD3.5 billion facility from the United Arab Emirates (UAE) and manage its foreign reserves, its finance minister said. Muhammad Aurangzeb also told Reuters the shock from the ongoing war in the Middle East meant that Pakistan must consider a strategic petroleum reserve and a faster switch to renewabl
Finance Muhammad Aurangzeb has informed that the Kingdom of Saudi Arabia has committed $3 billion in additional deposits, with disbursement expected in the coming week. He further stated that the existing $5 billion Saudi deposit would no longer remain subject to the earlier annual rollover arrangement and would instead be extended for a longer period. Aurangzeb made the announcement while talk
Massive selling pressure was observed at the Pakistan Stock Exchange (PSX) after the US and Iran failed to reach an agreement during their crucial talks in Islamabad. The benchmark KSE-100 Index shed nearly 5,200 points during the opening hours of trading on Monday. At 10:04am, the benchmark index was hovering at 162,057.43, down by 5,133.94 points or 3.07%. “The market landscape has shifted