Pakistan has formally requested a $1.2 billion Saudi Oil Facility to help cover the $2-2.5 billion financing shortfall identified by the International Monetary Fund (IMF) for the current fiscal year. In a meeting with Saudi Ambassador Nawaf Bin Said Al-Malki on Wednesday, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb expressed Pakistan’s commitment to … Read more
Pakistan has formally requested a commercial loan between $800 million and $1 billion from Standard Chartered Bank (SCB) to help fill a crucial financing gap needed to secure approval for the International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF). The News International reported, citing top official sources, that SCB has agreed in principle … Read more
ISLAMABAD: Cabinet members have expressed reservations regarding the acquisition of foreign currency debt from China for the implementation of Phase 1 of the Main Line-1 (ML-1) project. Sources told The Express Tribune that the Ministry of Railways had presented a proposal to the cabinet concerning the Financing Commitment Agreement between the National Railway Administration of … Read more
ISLAMABAD: The federal cabinet, led by Prime Minister Shehbaz Sharif, has given the green light to the immediate closure of the Pakistan Public Works Department (PWD) and the advancement of the ML-1 railway project’s first phase. In today’s cabinet session, two key items were on the agenda, both of which were swiftly approved. The first … Read more
KARACHI: Despite exhibiting significant volatility, the Pakistan Stock Exchange (PSX) on Thursday notched up notable gains, powered by positive triggers such as falling bond yields and optimism about bridging the external financing gap. Those factors, coupled with impending approval of the $7 billion Extended Fund Facility (EFF) by the International Monetary Fund (IMF) executive board, … Read more
1725006770-0/Untitled-design-(16)1725006770-0.png "Pakistan approves PWD closure and ML-1 financing agreement with China D_Trends")
Listen to article The federal cabinet, under the leadership of Prime Minister Shehbaz Sharif, has approved the immediate closure of the Pakistan Public Works Department (PWD) and the implementation of the first phase of the ML-1 railway project. During today’s cabinet meeting, a two-point agenda was discussed and approved. The first point on the agenda involved amending … Read more
ISLAMABAD: A delegation from Proparco, a subsidiary of the French Development Agency, visited the All Pakistan Textile Mills Association (Aptma) office on Wednesday to explore potential financing opportunities within Pakistan’s textile sector. The visit aimed to promote sustainable economic, social, and environmental development in the industry. The delegation, led by Regional Director Diane Jegam, included … Read more
Finance Minister Muhammad Aurangzeb announced new policy measures on Thursday aimed at enhancing Pakistan’s investment environment and attracting foreign investors, according to Radio Pakistan. The finance minister chaired a review meeting in Islamabad with representatives from joint venture investment firms, including Pak-Brunei Investment Company Limited and Saudi-Pak Industrial and Agricultural Investment Company. The discussion focused … Read more
LAHORE: A delegation of Proparco, a subsidiary of the French Development Agency, visited the All Pakistan Textile Mills Association (Aptma) office on Wednesday to explore financing opportunities in the textile sector to promote sustainable economic, social and environmental development in the industry. Led by Regional Director Diane Jegam, the delegation included Proparco Project Director Conselance … Read more
KARACHI: Several banks are offering new financing to businesses at rates below the Karachi Inter-Bank Offered Rate (KIBOR), as the benchmark six-month KIBORrepresenting the interest rate at which banks lend to each otherdropped by 63 basis points, reaching a 19-month low of 17.94% on Thursday. Speaking to The Express Tribune, Saad Hanif, Head of Research … Read more