The $2 billion loan was due in March and has been extended for one year
Pakistan economy
Latest in Pakistan economy
economic crisis
Pakistan’s inflation soars to 28.3% in July amid economic crisis
The jump in inflation followed a 37.64% rise in the prices of fresh vegetables, 33.45 % in tomato prices and 17.90 % in fresh fruits prices
Pakistan
Pakistan FM Ishaq Dar could be named the country’s interim PM: Report
The Pakistan Muslim League (N) (PML-N) was considering proposing a caretaker prime minister as part of a broader plan to ensure the implementation of the economic policies
Imran Khan
Clashes erupt across Pakistan as former PM Imran Khan faces arrest
Clashes between Khan’s supporters and law enforcement personnel were reported from Lahore and several other cities across the Pakistan since Tuesday, following arrival of police personnel to the former Prime Minister into custody
automobile industry
Honda to temporarily shut its plant in Pakistan due to financial crunch
Earlier, Pak Sukuzi Motor Company and Indus Motor Company, the assembler of Toyota-brand automobiles in Pakistan, also announced to completely shut down its production plant
economic crisis
Rs272 per litre! Pakistan drops petrol bomb on inflation-hit masses
The price hike came hours after the Pakistan government unveiled a tax-loaded ‘mini-budget’ in the parliament to extract Rs170 billion
economic slowdown
Pakistani PM approves IMF deal, says media report
Analysts say the money is necessary to prevent Pakistan from defaulting on external payment obligations
economic crisis
Pakistan to impose new taxes worth $797mn to comply with IMF conditions
The drafts are a bid to overcome the worst economic crisis in the country after Pakistan accepted IMF demands
IMF
Pakistan rupee hits all-time low after 9.6% tumble
Pakistan’s currency tumbled as struggling government looks to IMF for lending
Electricity access
Major power outage in Pakistan
Significant parts of Islamabad, Lahore and Karachi went without power for hours on Monday morning
Crown Prince Mohammed bin Salman
Saudi Arabia to step up investments in Pakistan to $10bn
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, issued a directive to study various plans to augment investments
Pakistan
UAE-Pakistan trade hits $10.6bn, expected to double
Bilateral trade between UAE and Pakistan boosted by diplomatic ties and growing tourism says top diplomat
commodity prices
Forget economic woes, Pakistan’s biggest problem right now is water
Financial challenges are topping headlines, but flooding should be top of the agenda
International Monetary Fund
Saudi Arabia said to renew $3 billion deposit in support of Pakistan
Saudi Arabia also plans to provide $100 million a month for 10 months in petroleum products that will be granted as additional support
financial aid
Saudi Arabia pledges $4.2bn to support Pakistan’s economy
Reserves with Pakistan’s central bank have declined for five consecutive weeks to $17.5bn as of October 15 and the rupee has consistently depreciated against the dollar