default

Influential sugar mills linked to ruling parties default on Rs 23 billion loans taken from National Bank  D_Trends

by
Influential sugar mills linked to ruling parties default on Rs 23 billion loans taken from National Bank  D_Trends

ISLAMABAD: At least 25 sugar mills owned by influential individuals with ties to the country’s political elite have defaulted on loans worth over Rs 23 billion taken from the state owned National Bank of Pakistan (NBP).  The revelations came to light as part of an audit of NBP and revealed a number of major defaulters. … Read more

Fitch upgrades Pakistan’s credit rating reflecting lower default risks D_Trends

by
Fitch upgrades Pakistan’s credit rating reflecting lower default risks D_Trends

The logo of Fitch Ratings can be seen above the main entrance of their office building. — Reuters/File While still below investment grade, upgrade means low default risk. Upgrade reflects greater certainty over external funding in long run. Strong performance on previous IMF deals helped cut fiscal deficits. Fitch Ratings has upgraded Pakistan’s credit rating, … Read more