Pakistan could gain temporary access to Russian crude oil under a new 30-day licence issued by the United States Department of the Treasury, diplomatic sources told Dawn, as Washington attempts to ease mounting pressure on global energy markets. The temporary measure aims to help energy-vulnerable countries secure crude supplies during ongoing disruptions caused by tensions […]
Pakistan Continues Fuel Cuts and 4 Day Workweek Until June 13
Pakistan on Monday extended its nationwide austerity drive and fuel conservation measures until June 13 as uncertainty surrounding the Middle East conflict continues to pressure global oil markets. The Cabinet Division issued a formal notification after Shehbaz Sharif approved the extension on the recommendations of the implementation committee. According to the notification, the government will […]
Pakistan Plans Historic Yuan Bond Launch After IMF Lifeline
Pakistan is set to enter China’s capital markets for the first time through a yuan-denominated Panda bond next week, Finance Minister Muhammad Aurangzeb announced on Saturday, as Islamabad moves to strengthen foreign exchange reserves and reduce reliance on traditional external lenders. “God willing, next week you will hear good news that for the first time, […]
IMF Clears $1.2 Billion for Pakistan Amid Strict Reform Demands
Pakistan secured another major financial lifeline on Friday after the International Monetary Fund (IMF) approved $1.2 billion in loan tranches under two separate lending programmes, giving crucial support to the country’s fragile economy as it struggles with inflation, weak growth and external financing pressures. The approval came after Islamabad agreed to nearly a dozen additional […]
$3Bn Lifeline: Pakistan, Saudi Arabia Sign Key Financial Agreement
Pakistan and Saudi Arabia have signed an agreement to extend a $3 billion deposit placed with the State Bank of Pakistan, providing crucial support to the country’s foreign exchange reserves at a time of mounting external financing pressures. The development was confirmed by Finance Minister Muhammad Aurangzeb, who announced the agreement during his engagements in […]
Pakistan receives $2bn Saudi deposit as reserves get major boost
Pakistan has received $2 billion from Saudi Arabia, the State Bank of Pakistan (SBP) confirmed, providing a timely boost to the country’s foreign exchange reserves as it faces growing external financing challenges. The central bank said the funds were received from the Kingdom’s Ministry of Finance with a value date of April 15, strengthening Pakistan’s […]
$3bn deposit, $5bn extension: Saudi Arabia boosts Pakistan economy
Saudi Arabia has pledged an additional $3 billion in financial support for Pakistan and extended an existing $5 billion deposit facility through 2028, providing a significant boost to the country’s external financing position at a critical time. Finance Minister Muhammad Aurangzeb announced the development during a media briefing in Washington on the sidelines of the […]
$5 Billion Relief Incoming? Saudi Move Sparks Big Hopes in Pakistan
Saudi Arabia has assured Pakistan of full financial support as Islamabad grapples with mounting external pressures linked to regional tensions and upcoming debt repayments, reinforcing a longstanding economic partnership between the two countries. The assurance was conveyed during a meeting between Prime Minister Shehbaz Sharif and Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan in Islamabad, […]