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Monthly Archives: September, 2020

Energy Sector May Take Circular Debt to Rs 4 Trillion by 2025

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Ahsan Zafar Syed, CEO of Engro Energy Limited, estimates that if DISCO operations are not enhanced, the energy sector's inefficiencies will bring the circular debt to...

The World Bank Approves $450 Million Loan for Pakistan

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A $450 million loan has been approved by the World Bank to finance Pakistan's transition to renewable energy resources, which will minimize its dependence on imports...

Talks with IMF on Subsidies Remain Indecisive

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The first session of conversations between Pakistan and the International Monetary Fund (IMF) to restart the suspended credit programme remained inclusive, although the global lender continued to...

Banks to Share Customers’ Real-Time Data with FBR

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Modalities for sharing depositors' data have been finalized by the Federal Board of Revenue (FBR) and the Pakistan Banking Association (PBA). On Thursday, the FBR officially alleged that...

Circular Debt in Gas Sector Rises to Rs 250 Billion

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Minister of the Power Division Omar Ayub Khan has stated that the gas sector's circular debt has risen to Rs 250 billion, which can only be...

The Current Account of Pakistan Remains in Surplus

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According to central bank data released on Wednesday, Pakistan's current account balance continued to remain in surplus for the second consecutive month at $297 million in...

Saudi Arabia Lifts Ban on Flights from Pakistan

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After the latter's progress in containing the coronavirus outbreak, Saudi Arabia lifted a ban on international flights coming from Pakistan on Wednesday. The government of Saudi...

IMF Urges Pakistan to Further Cap Limits on Short-Term Borrowings

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The International Monetary Fund (IMF) is looking to go ahead with the short-term borrowing constraints to fill the budget gap resulting from the projections that Pakistan's...

SBP Holds Policy Rate at 7%

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The State Bank of Pakistan's (SBP) Monetary Policy Committee (MPC) has agreed to keep the policy rate unchanged at 7%, as the Committee believes that the...

Pakistan’s Altaf Khanani Got Huge Sums from Account in Danske Bank

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The world of global finance is once again shaken by the new leaks called the FinCEN Files after Panama Leaks, revealing how the world's leading banks...
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