The International Monetary Fund (IMF) on Sunday said it would support flood relief and reconstruction efforts in Pakistan under the current programme agreed to between the two, according to a statement from the IMF's resident representative in the country, Esther Perez Ruiz. The statement said that the IMF was "deeply saddened" by the devastating impact of the recent floods in Pakistan and exte
The State Bank of Pakistan (SBP) on Sunday announced that the Saudi Fund for Development (SFD) confirmed the rollover of a $3 billion deposit for one more year. The deposit was set to mature on December 5, the SBP tweeted, adding that the amount was placed with the central bank as part of its foreign exchange reserves. “This reflects continuing strong and special relationship between KSA (Ki
Pakistan’s cargo and freight forwarding industry remains in the limelight for its vivacity in serving the importers and exporters. Though the National Transport Policy 2018 and the National Freight and Logistics Policy (NFLP) 2021 set clear dogmas for the stakeholders, Pakistan International Freight Forwarders Association (PIFFA) has reported the economic pains of around 600 freight and logistics
The National Electric Power Regulatory Authority (Nepra) has rejected a request of the telecom and cellular ‘industry’ to change its power tariff from commercial to a cheaper industrial electricity tariff. Nepra reached the conclusion after the ministries of energy and finance opposed the telecom industry’s petitions due to an expected loss of over Rs20 billion in annual revenue and the resulta
Pakistan will “absolutely not” default on debt obligations despite catastrophic floods, the finance minister said on Sunday, signalling there would be no major deviation from reforms designed to stabilise a struggling economy. Floods have affected 33 million Pakistanis, inflicted billions of dollars in damage, and killed over 1,500 people — creating concern that Pakistan will not meet debts.