Pakistan PM Shehbaz welcomes UAE’s $1 billion investment
2 years, 4 months ago

Pakistan PM Shehbaz welcomes UAE’s $1 billion investment

India TV News  

Pakistan Prime Minister Shehbaz Sharif on Tuesday welcomed UAE’s recent announcement to invest USD 1 billion in the cash-strapped country as he talked over the phone with the Gulf nation’s President Mohamed bin Zayed Al Nahyan. “Highlighting the generous support extended by the UAE to Pakistan over the years, the Prime Minister welcomed the recent announcement by the UAE to invest USD 1 billion in various economic and investment sectors in Pakistan,” it said. The country has been facing a serious threat from its external front as the State Bank of Pakistan’s foreign exchange reserves fell to single digits despite a USD 2.3 billion inflow from China late last month, the Dawn newspaper reported last month. With the rising current account deficit at USD 13.2 billion in the first nine months and pressing external loan repayment requirements, Pakistan required financial assistance of USD 9-12 billion till June 2022 to avert further depletion of foreign currency reserves.

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History of this topic

Can Pakistan’s allies help revive its economy through investment dollars?
6 months ago

Can Pakistan’s allies help revive its economy through investment dollars?

Al Jazeera  

Pakistani PM Shehbaz Sharif visited China, Saudi Arabia and the UAE recently searching for investments. Islamabad, Pakistan — In a series of trips over the past three months, Pakistan Prime Minister Shehbaz Sharif has tried to convince the debt-strapped country’s three closest allies — China, Saudi Arabia and the United Arab Emirates — to invest in the nation, as its …

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout
6 months, 1 week ago

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

The Independent  

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Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout
6 months, 1 week ago

Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

Associated Press  

ISLAMABAD — Pakistan’s new coalition government presented its first budget in parliament on Wednesday, promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target while talks with the International Monetary Fund about a new bailout continue. Analysts say the new budget of about $68 billion — up from $50 billion …

Pakistan PM Shehbaz Sharif's office says UAE has committed $10 bln in investments
7 months ago

Pakistan PM Shehbaz Sharif's office says UAE has committed $10 bln in investments

Hindustan Times  

The United Arab Emirates on Thursday committed $10 billion to invest in promising economic sectors in Pakistan, Islamabad said. The investment pledge came after a meeting between Pakistani Prime Minister Shehbaz Sharif, on a two day visit to the UAE, met President Sheikh Mohamed bin Zayed Al Nahyan. The investment pledge, also announced by the Emirati state news agency, came …

Pakistan: Business leaders suggest PM Shehbaz Sharif to forge trade ties with India
7 months, 4 weeks ago

Pakistan: Business leaders suggest PM Shehbaz Sharif to forge trade ties with India

Op India  

In a bid to navigate Pakistan’s economic challenges, Prime Minister Shehbaz Sharif convened with the business community, aiming to rejuvenate the economy through robust exports. Acknowledging the government’s efforts, Arif Habib, Chief of Arif Habib Group, commended recent developments, stating, “You have made a few handshakes after taking the charge that has produced good results and progress on the IMF …

Pakistan and Saudi Arabia call for a cease-fire in Gaza, saying efforts so far are insufficient
8 months, 1 week ago

Pakistan and Saudi Arabia call for a cease-fire in Gaza, saying efforts so far are insufficient

Associated Press  

ISLAMABAD — Pakistan and Saudi Arabia on Tuesday called for an immediate cease-fire and uninterrupted delivery of humanitarian aid in Gaza. Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan, on a visit to Islamabad, said that international efforts toward a cease-fire between Israel and the militant group Hamas have been “wholly insufficient.” “We are now actively discussing the potential for …

Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis
8 months, 1 week ago

Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis

The Independent  

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Pakistan's new finance minister Muhammad Aurangzeb is an ex-JPMorgan banker: All you need to know
9 months, 1 week ago

Pakistan's new finance minister Muhammad Aurangzeb is an ex-JPMorgan banker: All you need to know

Hindustan Times  

Pakistan’s prime minister Shehbaz Sharif picked former banker from JPMorgan Chase & Co. Muhammad Aurangzeb as country's next finance minister. The 59-year old was appointed to the position after he stepped down as chief executive officer of Pakistan’s biggest bank Habib Bank Ltd. Other possible candidates for the post were longtime Shehbaz Sharif ally Ishaq Dar and ex-central bank governor …

Abu Dhabi considers investment worth $50 billion in India
1 year, 1 month ago

Abu Dhabi considers investment worth $50 billion in India

Firstpost  

Over the past decade, the two nations have been working to strengthen their relationship and have set a goal to increase non-oil bilateral trade to $100 billion. Notably, Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since assuming office as the Prime Minister in 2014. Earlier this year, India and the UAE set a …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 4 months ago

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years

News 18  

China has rolled over a USD 2.4 billion loan to its all-weather ally Pakistan for two years to help the cash-strapped country shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Thursday. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal …

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 4 months ago

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years

Associated Press  

ISLAMABAD — Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. The latest extension in loan maturities by Beijing was a boost to Pakistan’s fragile foreign exchange reserves, which are still only enough …

Pakistan’s forex reserves double to $8.73 billion
1 year, 5 months ago

Pakistan’s forex reserves double to $8.73 billion

Live Mint  

Pakistan's foreign exchange reserves have surged to a nine-month high following a fresh financial bailout from the International Monetary Fund. The country's reserves nearly doubled to $8.73 billion as of July 14, with inflows coming from the IMF and friendly nations like Saudi Arabia and the UAE. The financial assistance, totaling around $4.2 billion received last week, comes as Pakistan …

Pakistan gets another $600 million loan from China: PM Shehbaz
1 year, 5 months ago

Pakistan gets another $600 million loan from China: PM Shehbaz

The Hindu  

Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday. It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the …

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF
1 year, 5 months ago

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF

News 18  

The International Monetary Fund on Wednesday announced that it has approved a USD 3 billion loan agreement for Pakistan, unlocking crucial funding for the cash-strapped economy. In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilization program.” This follows a staff-level agreement between the fund and …

Pakistan receives USD 1 billion from UAE to boost its reserves
1 year, 5 months ago

Pakistan receives USD 1 billion from UAE to boost its reserves

India Today  

Pakistan on Wednesday received USD 1 billion from the UAE to boost its reserves, a day after Saudi Arabia transferred USD 2 billion to the country's central bank in the wake of a deal with the International Monetary Fund. Finance Minister Ishaq Dar announced the transfer of funds by the Gulf nation on the eve of the board meeting of …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 5 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar
1 year, 5 months ago

Cash-strapped Pakistan receives $2 billion from Saudi Arabia: Pakistan Finance Minister Dar

The Hindu  

Pakistan has received deposits of $2 billion from Saudi Arabia, Finance Minister Ishaq Dar said on July 11, ahead of a key meeting of the IMF to endorse a loan for the cash-strapped country. “State Bank of Pakistan has received deposit of $2 billion from the Kingdom of Saudi Arabia. Prime Minister Shehbaz Sharif also extended deep gratitude to the …

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting
1 year, 5 months ago

Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting

Associated Press  

ISLAMABAD — Saudi Arabia has deposited $2 billion into Pakistan’s central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country. Dar said that with the Saudi deposit, Pakistan’s foreign exchange reserves which dropped to $9.6 billion last week — …

Pakistan’s economy to grow by 2% in the next fiscal year, says World Bank
1 year, 6 months ago

Pakistan’s economy to grow by 2% in the next fiscal year, says World Bank

The Hindu  

The World Bank has projected Pakistan’s economy to grow by 2% in the next fiscal year, much lower than the 3.5% target set by the National Economic Council, the country's top economic body, saying the lasting effects of the August 2022 floods, along with policy uncertainty and limited foreign exchange resources have depressed activity in the country. “In Pakistan, the …

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy
1 year, 6 months ago

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy

Op India  

On Friday, May 26, Shehbaz Sharif, Pakistan’s prime minister, stated that an agreement with the International Monetary Fund has not been reached, but that China’s backing will be critical in keeping the country from default. PM Sharif stated in his address to industrialists and businesses in Karachi that Pakistan has ‘successfully fulfilled all of the rigorous conditions imposed by the …

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar
1 year, 8 months ago

UAE approves additional $1 billion funding to Pakistan: Finance Minister Ishaq Dhar

The Hindu  

Pakistan's Finance Minister Ishaq Dhar on April 4 announced that the UAE has approved $1 billion in financial support, taking the cash-strapped nation a step closer to unlocking the crucial IMF bailout. Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund, part of a $6.5 billion …

UAE tells IMF it will support Pakistan with $1bn, says minister
1 year, 8 months ago

UAE tells IMF it will support Pakistan with $1bn, says minister

Al Jazeera  

Ishaq Dar says the UAE has informed the IMF that it will provide financial support of $1bn to the crisis-hit South Asian country. Islamabad, Pakistan – Pakistan’s finance minister says the United Arab Emirates has informed the International Monetary Fund that it will provide financial support of $1bn to the crisis-hit South Asian country. I really do hope for Pakistan’s …

Imran Khan says Pakistan will struggle to escape its 'slowly shrinking’ economy
1 year, 8 months ago

Imran Khan says Pakistan will struggle to escape its 'slowly shrinking’ economy

Hindustan Times  

Pakistan will struggle to escape from its ‘slowly shrinking’ economy which is marred the cycle of debilitating debt repayments, country's former Prime Minister Imran Khan said. In an interview with Financial Times, the Pakistan Tehreek-e-Insaf chief said the country is ‘stuck’ in between economic crises and asked whether the solution to it is by getting more loans or ‘restructure the …

Pakistan kicks off outsourcing operations, assets at three airports
1 year, 8 months ago

Pakistan kicks off outsourcing operations, assets at three airports

Firstpost  

Pakistan, however, has been in talks with Qatar to jointly run terminals at Islamabad, Karachi and Lahore airports, officials say Islamabad: Pakistan on Thursday kicked off outsourcing of operations and land assets at three major airports to be run through a public private partnership, a finance ministry statement said, a move to generate foreign exchange reserves for its ailing economy. …

Pakistan may cap ISI's fund, shutter some foreign missions as economic crisis bites
1 year, 10 months ago

Pakistan may cap ISI's fund, shutter some foreign missions as economic crisis bites

India Today  

Pakistan, which is teetering on the brink of bankruptcy, is planning stringent austerity measures. Pakistan PM Shehbaz Sharif has issued instructions to the Ministry of Foreign Affairs to slash the number of foreign missions abroad, and reduce their offices and staff to cut down expenditure by 15 per cent, Pakistan's Geo News reported on Wednesday. Pakistan Prime Minister Shehbaz Sharif …

Pakistan: China approves USD 700 million loan to cash-strapped country
1 year, 10 months ago

Pakistan: China approves USD 700 million loan to cash-strapped country

India TV News  

Pakistan: The all-weather ally of China has approved a major loan of a whopping price to the cash-strapped country 'Pakistan'. The Finance Minister of Pakistan, Ishaq Dar on Wednesday announced that China has approved a loan of USD 700 million. The money bill was passed aiming to fulfill the demands set by the International Monetary Fund for seeking a USD …

Pakistan economic crisis: Inflation, forex reserves among 5 worrisome indicators
1 year, 10 months ago

Pakistan economic crisis: Inflation, forex reserves among 5 worrisome indicators

Live Mint  

Pakistan has been struggling with an economic downfall for the last few months with multiple indicators clearly suggesting that the country is battling its worst nightmare since 1971 when the country lost a war against India and partitioned from Bangladesh. Let's know Pakistan's economic situation with these economic indicators, 1) External debts jump by 70% Pakistan's external debt servicing rose …

‘Pakistan must move away from…’: Experts’ advise on its economic crisis
1 year, 10 months ago

‘Pakistan must move away from…’: Experts’ advise on its economic crisis

Live Mint  

Pakistan is facing an unprecedented economic crisis as the country's rupee recorded a historic low of 275 to the US dollar, inflation rising to over 27 percent and foreign exchange reserves dropped to the lowest level since 1998 at around USD 3 billion which is not enough even to cover a month's imports. Speaking to PTI, former Indian Army chief …

Cash-strapped Pakistan's rupee plunges amid talks with IMF
1 year, 10 months ago

Cash-strapped Pakistan's rupee plunges amid talks with IMF

The Hindu  

Cash-strapped Pakistan’s currency plunged Thursday against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund for the next tranche of its bailout package. Pakistan is seeking a crucial installment of $1.1 billion from the fund — part of its $6 billion bailout package — to avoid default. The rupee's …

Shehbaz Sharif travelling around world with 'begging bowl': Imran Khan
1 year, 11 months ago

Shehbaz Sharif travelling around world with 'begging bowl': Imran Khan

India Today  

Pakistan Prime Minister Shehbaz Sharif is travelling to different countries around the world with a "begging bowl" but none of them is giving him a penny, ousted premier Imran Khan said on Sunday. "Shehbaz Sharif is travelling to different countries with a begging bowl but none of them is giving him a penny," Khan said, commenting on the prime minister's …

"We forced Pakistan go around globe with a begging bowl:" PTI leaders share old video of PM Modi – India TV
1 year, 11 months ago

"We forced Pakistan go around globe with a begging bowl:" PTI leaders share old video of PM Modi – India TV

India TV News  

Pakistan economic crisis: Amid the worst-ever economic turbulence in Pakistan, several Opposition leaders are now using an old video clip of Prime Minister Narendra Modi where he spoke about the dire financial situation. In the latest trend, several leaders of Imran Khan's party-- Pakistan Tehreek-e-Insaaf -- shared an old video clip of PM Modi where he asserted how New Delhi's …

Pakistan premier says UAE extends $2B loan, offers $1B more
1 year, 11 months ago

Pakistan premier says UAE extends $2B loan, offers $1B more

Associated Press  

DUBAI, United Arab Emirates — Pakistan’s prime minister said Thursday that the United Arab Emirates agreed to extend a $2 billion loan to his country and provide an additional $1 billion as his nation struggles to recover from devastating floods this summer and a dire economic crisis. Prime Minister Shahbaz Sharif’s office made the announcement after he met with the …

Pakistan imports threatened as forex reserves hit eight-year low
1 year, 11 months ago

Pakistan imports threatened as forex reserves hit eight-year low

Firstpost  

Pakistan has just $11.4 billion in reserves – enough to pay for just three weeks of imports, traders and economists say Karachi: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion held by commercial banks, the nation has $11.4 billion …

Pakistan central bank’s forex reserves fall to near four-year low
2 years ago

Pakistan central bank’s forex reserves fall to near four-year low

Al Jazeera  

Announcement by the State Bank of Pakistan comes as the country is in dire need of foreign aid. Islamabad, Pakistan – Pakistan’s central bank says its foreign exchange reserves have fallen to $6.7bn, its lowest level in nearly four years as the country battles an economic crisis. Thursday’s announcement by the State Bank of Pakistan came as the country is …

Pakistan needs 34 billion dollars to pay foreign loans. It is likely to default
2 years, 1 month ago

Pakistan needs 34 billion dollars to pay foreign loans. It is likely to default

Hindustan Times  

Pakistan's default risk has increased sharply amid political turmoil and uncertainty about talks with the International Monetary Fund, reported Dawn. The country's default risk was measured by five-year credit-default swaps, insurance contracts that protect an investor against a default, Dawn reported The credit-default swaps increased and reached 75.5 per cent on Wednesday from 56.2 per cent, Dawn cited data circulated …

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia
2 years, 1 month ago

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia

The Hindu  

Cash-strapped Pakistan has secured about $13 billion in additional financial support from its traditional allies China and Saudi Arabia, Finance Minister Ishaq Dar has said, as the government tries to steady the country's weak economy. Responding to another question, Mr. Dar said Saudi Arabia had also “given a positive response” to Pakistan’s request for increasing its financing by another $3 …

Qatar to invest $3bn in Pakistan economy
2 years, 3 months ago

Qatar to invest $3bn in Pakistan economy

Al Jazeera  

The Qatar Investment Authority’s announcement comes as Pakistani PM Shehbaz Sharif visits Doha on an official trip. “His Highness stressed the importance of the brotherly and strategic relations between the two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through the Qatar Investment Authority,” the Amiri Diwan said in its statement. During the …

Pakistan PM Shehbaz Sharif visits Qatar seeking trade, investment
2 years, 4 months ago

Pakistan PM Shehbaz Sharif visits Qatar seeking trade, investment

Al Jazeera  

Visit comes ahead of an IMF meeting next week that is expected to approve a $1.2bn tranche of lending to Islamabad. “I will highlight the exciting investment opportunities in Pakistan’s various sectors such as renewable energy, food security, industrial and infrastructure development, tourism and hospitality,” Sharif said in a statement on Tuesday before setting off. Two sources close to Sharif …

Cash Strapped Pakistan To Face 'More Difficult Times': PM Shehbaz Sharif
2 years, 5 months ago

Cash Strapped Pakistan To Face 'More Difficult Times': PM Shehbaz Sharif

ABP News  

Islamabad: Cash-strapped Pakistan's Prime Minister Shehbaz Sharif on Thursday warned that the country may witness more difficult times as it struggles to steer itself out of the ongoing economic crisis. Sharif also said that his government faced an uphill task to revive a stalled assistance program by the International Monetary Fund due to the broken promises with the global lender …

Pakistan, Saudi Arabia to discuss extending term of $3bn deposit
2 years, 7 months ago

Pakistan, Saudi Arabia to discuss extending term of $3bn deposit

Al Jazeera  

Saudi Arabia will discuss the option of extending the terms of its $3bn deposit in Pakistan’s central bank, according to a joint statement. Saudi Arabia will discuss the option of extending the terms of its $3bn deposit in Pakistan’s central bank to help Islamabad’s faltering economy, according to a joint statement. “The Kingdom of Saudi Arabia affirmed its continuous support …

Cash-strapped Pakistan gets USD 8 billion in financial support from Saudi Arabia
2 years, 7 months ago

Cash-strapped Pakistan gets USD 8 billion in financial support from Saudi Arabia

India TV News  

Saudi Arabia has agreed to provide Pakistan with a "sizeable package" of around USD 8 billion to help the cash-starved country bolster dwindling forex reserves and revive its ailing economy, a media report said on Sunday. Pakistan had proposed doubling the oil facility from USD 1.2 billion to USD 2.4 billion and Saudi Arabia agreed to it. Saudi Arabia provided …

Who is Shehbaz Sharif, Pakistan’s new prime minister?
2 years, 8 months ago

Who is Shehbaz Sharif, Pakistan’s new prime minister?

Al Jazeera  

Part of the wealthy Sharif clan, Shehbaz is best known for his ‘can-do’ administrative style, displayed when he was Punjab chief minister. Shehbaz, part of the wealthy Sharif dynasty, is best known for his direct, “can-do” administrative style, which was on display when, as chief minister of Punjab province, he worked closely with China on Beijing-funded projects. Shehbaz faces immediate …

Saudi Arabia to provide $4.2 billion aid to cash-strapped Pakistan; Imran Khan thanks MBS
3 years, 1 month ago

Saudi Arabia to provide $4.2 billion aid to cash-strapped Pakistan; Imran Khan thanks MBS

Firstpost  

Information minister Fawad Chaudhry took to Twitter to announce the assistance which came just two days after Imran paid a three-day visit to the Kingdom Islamabad: Saudi Arabia has agreed to provide $4.2 billion worth of assistance to cash-strapped Pakistan to support its economy, it emerged on Wednesday after Prime Minister Imran Khan held talks with Saudi Prince Mohammad bin …

Saudi Arabia agrees to revive financial support to Pakistan
3 years, 1 month ago

Saudi Arabia agrees to revive financial support to Pakistan

India TV News  

Saudi Arabia has agreed to revive its financial support to Pakistan, including about $3 billion in safe deposits and $1.2bn to $1.5bn worth of oil supplies on deferred payments, Dawn reported. "Saudi Arabia's announcement support Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum products with 1.2 billion US dollars during the …

UAE looks to grow Israel economic ties to $1 trillion over decade
3 years, 3 months ago

UAE looks to grow Israel economic ties to $1 trillion over decade

Al Jazeera  

The UAE’s economy minister said on Monday that the country is looking to strengthen its business ties with Israel to $1 trillion over the next decade. The United Arab Emirates is seeking to grow economic ties with Israel to more than $1 trillion over the next decade, Economy Minister Abdulla Bin Touq said Monday, strengthening a year-old relationship that’s already …

UAE announces plan to invest in economy, liberalize laws
3 years, 3 months ago

UAE announces plan to invest in economy, liberalize laws

Associated Press  

DUBAI, United Arab Emirates — The United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalize stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment. “We are building the new 50 years’ economy,” Thani al-Zeyoudi, the minister of state for foreign trade, said in an interview, …

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