The prospects of the economy generating the resources to discharge the obligations that must be defrayed soon do not look good. It could transmute into a declaration of default.
A crucial IMF package, commitment to fiscal discipline & historic corporate profits meant investors in KSE-100 index would’ve earned far higher returns than from investing in Sensex.
Lacking even the meagre comfort of an after-dinner cognac to calm their nerves, the assembled billionaires listened silently as their guest’s rage washed over the gathering....
Most have applauded the announcement of privatisation. One user sarcastically tweeted to give PIA to the army, 'they are looking to occupy everything that Pakistan has'.
On Wednesday, Pakistan’s central bank received $1.2 billion from International Monetary Fund as the first tranche of a $3 billion bailout to stabilise the economy.
Saudi Arabia pledged the money and then waited for the aid package from the International Monetary Fund to go ahead before depositing it with the State Bank of Pakistan.
Over the last year, the cost of wheat flour in Pakistan increased by a whopping 120%, coinciding with inflation which touched an all-time high of 46.7%.
Making a jump from internal combustion engines to electric vehicles is the kind of romantic prospect that would appeal to India, which jumped from a shortage of landline phones to an abundance of smartphones.
RBI Wednesday banned Kotak Mahindra Bank from taking on new customers through digital channels & from issuing new credit cards. Violations had to do with strength of bank’s IT infra.
Another addition to military cooperation has been the Strategic Space Dialogue, inaugurated in Paris in 2023. Last month, India participated as an observer to France’s AsterX.
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