The Punjab government on Monday took a U-turn on its consideration to acquire Pakistan International Airlines (PIA), while Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur decided to go ahead with a plan to outbid the current offer of Rs10 billion by the Blue World City consortium. The much-anticipated privatisation of PIA hit a standstill last week as the only bid fell Rs75bn short of
Higher foreign inflows are expected this month as the remittances crossed $3 billion in October, while the State Bank of Pakistan (SBP) expects $500 million from the Asian Development Bank (ADB) this week. In a briefing with the analysts and researchers after the announcement of the monetary policy on Monday, SBP Governor Jameel Ahmed disclosed that the remittances in October had crossed the $3
Prime Minister Shehbaz Sharif on Monday informed cabinet members that Qatar and Azerbaijan will invest $5 billion in the country’s various sectors. Addressing a federal cabinet meeting, the prime minister said he has held very productive meetings with leaders of Saudi Arabia and Qatar in which different subjects like solar energy, mines, minerals and IT sectors were discussed. He said a dele
In stark contrast to the previous two days' downturn, the Pakistan Stock Exchange (PSX) rebounded in a remarkable fashion as it soared nearly 1,900 points and closed just shy of the record high. Driven by expectations of a significant reduction in the State Bank of Pakistan's (SBP) policy rate, the KSE-100 index soared to the intra-day high of 91,133.28 points towards the close of trading. I
The government’s inability to launch Euro and Panda bonds could put the economy under stress, which may not help the country get improved ratings from international rating agencies, said financial experts. “The government is yet not able to launch bonds in the international market to raise dollars due to poor country ratings given by the international rating agencies,” said sources in the finan