Folks jostle to purchase sponsored sacks of wheat flour from a sale level in Quetta, Pakistan. Individuals are affected by latest worth hike in wheat-flour in Pakistan. | Photograph Credit score: AP/Arshad Butt Pakistan’s financial system is on the point of collapse. The nation has requested the Worldwide Financial Fund for a …
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As dwindling foreign exchange reserves, nationwide energy outages, stampedes at state-run meals distribution centres and a Pakistani rupee, which plunged practically 50 per cent in a yr to 262 to the US greenback on Monday, propels the neighbouring nation in direction of being a global “basket case”, Indian analysts believe …
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Pakistan is within the midst of an “economic meltdown” as its foreign exchange reserves dropped by over 40 per cent because the exit of Miftah Ismail and the taking up of Ishaq Dar as the brand new Finance Minister, reported The Categorical Tribune. …
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ISLAMABAD: Pakistan obtained solely $5.6 billion in overseas loans through the first half of present fiscal yr, equal to about one-fourth of the annual finances estimate, because of the cash-starved nation’s failure to take well timed selections about reviving the IMF mortgage programme, in keeping with media report on Saturday.Information …
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Commercial On Wednesday, the Alternate Corporations Affiliation of Pakistan (ECAP) removed the cap on the U.S. greenback’s alternate fee. This prompted the Pakistani rupee to fall by 1.2 percent, to 243 in opposition to the U.S. greenback on the open market. The interbank exchange rate remained 231.7 on Wednesday. On …
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ISLAMABAD: Shipping agents have warned the cash-strapped Pakistan government that all exports could come to a halt as foreign shipping lines are considering stopping their services for the country after banks stopped remitting freight charges to them due to a lack of dollar availability, according to a media report on …
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ISLAMABAD: In a major blow to cash-strapped Pakistan, the World Bank has delayed the approval of two loans worth $1.1 billion until the next fiscal year, according to a media report.The Washington-based lender has also opposed slapping a flood levy on imports, creating a new hole in an already ambitious …
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Last Updated: January 18, 2023, 11:07 IST Pakistan PM Shehbaz Sharif has reportedly demanded ‘honest talks’ with PM Narendra Modi on the Kashmir issue as ‘three wars with India have introduced extra distress, poverty and unemployment’. (File Photo/AP) According to a source in the Pakistan finance ministry, the government has …
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NEW DELHI: Money-strapped Pakistan is desperately in search of assist.Prime Minister Shehbaz Sharif has made calls to the Chinese language premier Li Keqiang, in search of Beijing’s assist to avert a looming default whereas military chief Common Asim Munir met the Saudi defence minister in Riyadh.However its report of fiscal …
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