Pakistan has constituted a negotiation committee to finalise the price and draft a commercial agreement for the sale of its 15% stakes in the Reko Diq copper and gold mines project to Saudi Arabia. The negotiation committee has been authorised to undertake a review of the price discovery mechanism being developed by the international advisors and to assess the Saudi offer. It will also engage w
Bullish momentum continued at the Pakistan Stock Exchange (PSX) on Monday as shares gained more than 600 points in intraday trade. The benchmark KSE-100 index climbed 621.85 points, or 0.64 per cent, to stand at 98,420.08 from the previous close of 97,798.23 points at 12:45pm. Finally, the index closed at 98,079.78, up by 281.55 points, from the previous close. Mohammed Sohail, chief executi
One of the primary criticisms of International Monetary Fund (IMF) stabilisation programmes is the imposition of stringent conditionality, often characterised by austerity measures. According to the IMF’s own research, such measures can lead to short-term economic contraction and social unrest. A 2015 paper titled “The Role of Fiscal Policy in the Post-Crisis Economic Recovery” suggests that auste
Speculations surrounding the International Monetary Fund (IMF) delegation’s unscheduled three-day visit earlier this month, following the approval of a $7 billion bailout package in late September, were dismissed as baseless by the government and some experts. A corporate platform welcomed the visit, viewing it as a positive signal. The first formal review of the Extended Fund Facility (EFF) is
Pakistan and Belarus are seeking to strengthen bilateral relations, with a focus on boosting trade and economic cooperation, as Belarusian President Aleksandr Lukashenko on Monday began a three-day official visit to the country. President Lukashenko was welcomed at Nur Khan Airbase by Prime Minister Shehbaz Sharif, accompanied by key cabinet ministers, including Deputy Prime Minister an