Pending approval of the $7 billion bailout by the IMF’s executive board, the government made a poor take-off and received just $436.4 million in foreign assistance and grants in July, almost 85pc lower than the same month last year. The $426m in foreign loans and $10.5m in grants in the first month of the current fiscal year appeared a non-starter when seen in the context of the mammoth $19.4bn
Amid surging terrorist attacks in Balochistan, killing dozens of innocent people, the stock market turned negative in a mixed session on Monday after hitting an intraday high above 79,000 level. Ahsan Mehanti of Arif Habib Corporation said stocks closed lower amid consolidation near the close of earnings season and security concerns. He added that the energy sector outperformed the index aft
A FRIEND in need is a friend indeed. China, Saudi Arabia, and the UAE have lived up to the adage, rescuing Pakistan multiple times in recent years by propping up its international reserves through large cash deposits and loans, as well as rolling over their debt, to help it access IMF funds in order to avert a sovereign default. Of late, though, they appear a bit hesitant to lend a helping hand
Expecting the stability of a developed market and growth rates of a developing market is unreasonable; it is a high risk, high return scenario,” says Unilever’s Chairman and CEO Amir Paracha in an interview with Dawn. Companies that withdraw during challenging periods often miss out on substantial opportunities, Mr Paracha argues, citing examples of international banks and foreign pharmaceutica
A study published by the Asian Development Bank finds that Pakistani migrants tend to remit more when economic conditions are improving back home and when there is positive association between remittances and domestic economic activity. “This suggests that there is an opportunistic dimension to the remittance motives of Pakistani migrants. They remit money to take advantage of investment opport