The US State Department has urged Pakistan to “continue working” with the International Monetary Fund (IMF), especially on reforms that will improve the country’s business environment, highlighting that it would help Pakistan attract “high-quality investment”. State Department spokesperson Ned Price made the remarks in response to a query at a weekly press briefing on Wednesday. “We encourag
Pakistan’s foreign exchange reserves held by the central bank rose to $4.3 billion in the week ending on March 3, the State Bank of Pakistan (SBP) said on Thursday. “During the week ended on March 3, SBP’s reserves increased by $487 million to $4.3bn due to receipt of $500m as GoP commercial loan from China,” it added. The SBP said total liquid foreign reserves held by the country stood at $
A Turkish investor announced on Thursday its intention to buy more than 51 per cent shares and control of Tri-Star Power Ltd, a publicly listed electricity producer. Aykut Çalikuu is a diversified investor with core expertise in e-commerce and the sale of locally sourced products in the Gulf countries. Its other areas of interest include clean energy and healthcare. As for Tri-Star Power, th
Commerce Minister Syed Naveed Qamar on Thursday stressed the need to exploit the potential for boosting trade volume between Pakistan and the United Arab Emirates (UAE). In a meeting with UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi, the commerce minister highlighted the huge potential for cooperation between the two countries in the field of renewable energy, agriculture, tex
Foreign exchange reserves of the State Bank of Pakistan (SBP) have increased to $4.3 billion after the inflows of $500 million from China, but the currency market reacted negatively as the dollar appreciated by more than Rs3 in the interbank on Thursday. The SBP reported that its reserves increased by $487m during the week ended on March 3 to $4.301bn. The total liquid foreign reserves held by