Pakistan secured a record $26.7 billion in foreign loans during the last fiscal year, nearly half of it in the form of rollovers of previously obtained loans, indicating the country's deepening dependence on multilateral and bilateral creditors. The $26.7 billion disbursed during the fiscal year 2024-25 was slightly higher than the preceding fiscal year, according to data compiled by the Minist
China is reluctant to extend financing to Pakistan for energy projects due to concerns over the country's economic record, security situation and repayment issues. Sources told The Express Tribune that Pakistani energy companies were seeking financing from China for various energy ventures. However, Sinosure – a state-owned Chinese company that provides insurance cover for loans and debt financ
China has broken ground on what it says will be the world's largest hydropower project, a $170 billion feat capable of generating enough electricity each year to power Britain. The scheme dwarfs the mighty Three Gorges Dam, currently the world's largest, and Chinese construction and engineering stocks surged after Premier Li Qiang unveiled it on the weekend. For Beijing, the project promises
Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund (IMF) said on Tuesday, warning that tariffs were not the answer. In its annual External Sector Report, which assesses imbalances in the 30 largest economies, the IMF noted that external surpluses or deficits were not necessarily
Federal Minister for National Food Security and Research Rana Tanveer Hussain has said that the government will initiate a countrywide crackdown against the mills involved in hoarding, profiteering or overpricing, if the Pakistan Sugar Mills Association (PSMA) failed to play its due role in ensuring compliance with the notified price among its members. Rana Tanveer chaired a high-level meeting