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May 14, 2024 3:54 PM

Pakistan PM unveils broader plan to sell most state-owned firms

Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif said on Tuesday, broadening its initial plans to sell only loss-making state firms to shore up its shaky finances. The announcement came after Sharif headed a review meeting of the privatisation process of loss-making state enterprises (SOEs), according to a statement from his office, which discussed a roadmap for privatisation from 2024 to 2029. "All of the state-owned ...

April 30, 2024 12:08 PM

IMF bailout proved important to save Pakistan from default, PM Sharif says

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default. "The disbursement will bring more economic stability in Pakistan," Sharif said in a statement from his office, a...

April 22, 2024 3:28 PM

Iranian president lands in Pakistan for three-day visit to mend ties

Iranian President Ebrahim Raisi arrived in Islamabad on Monday on a three-day official visit, the foreign office said, amid tight security in the Pakistani capital. The visit, which Pakistan's foreign office said would run until Wednesday, comes as the two Muslim neighbours seek to mend ties after unprecedented tit-for-tat military strikes this year. "The Iranian president is accompanied by his spouse and a high-level delegation," Pakistan's foreign ministry said in a statement, adding that th...

April 16, 2024 1:43 PM

Pakistan floods: Death toll rises to 39

Heavy rains continued to batter several provinces of Pakistan on Tuesday, raising the death toll to 39, with Khyber Pakhtunkhwa reporting 21 fatalities alone. The Balochistan government imposed an "urban flood emergency" in Quetta, Dawn reported. The northern parts of Khyber Pakhtunkhwa have been severely affected, enduring heavy rainfall, floods, and landslides for the fourth consecutive day. Prime Minister Shehbaz Sharif directed the National Disaster Management Authority (NDMA) chairman to...

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