Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to roll over debt for a year, a boost for the government as it awaits final approval of a new $7 billion loan programme with the International Monetary Fund (IMF), Bloomberg reported on Tuesday. Pakistan has a peculiar financial arrangement with these three countries in the shape of commercial loans and SAFE
The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal trading platform being promoted through various social media channels, falsely claiming substantial returns on trading in the Pakistan Stock Exchange and international stock markets. Operating under the name “Aviva Investment Group/ H1-Aviva Securities Exchange Academy/Aviva Investment Limited”, the platform
Overseas Investors Chamber of Commerce and Industry (OICCI) member companies have injected $22.6 billion into Pakistan’s economy during the last 10 years, according to the chamber’s 2023 annual economic contribution survey. With the contribution of $22.6bn in the last 10 years, the 139 OICCI member companies reported assets amounting to Rs29.6 trillion, capital expenditure of Rs482bn, governmen
Pakistan Railways (PR) is looking to outsource the commercial operation of 22 more trains. However, previous experiences, such as a leading firm’s failure to run the Business Express due to financial constraints, raise concerns about the possibility of the plan’s success. Additionally, another firm stopped operating the Bahauddin Zakaria Express (Multan-Karachi-Multan) for administrative, finan
Policy Research and Advisory Council (PRAC) Chairman Mohammad Younas Dagha has urged the State Bank of Pakistan (SBP) to bring down its policy rate to 17.5 per cent from 19.5pc. He said this would keep the real interest rate positive within a range of 2.4-3.4pc, as per the International Monetary Fund’s requirement. According to a PRAC press release issued on Tuesday, Mr Dagha said the govern