PARIS: Prime Minister Shehbaz Sharif Thursday met International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva and said in a tweet that Pakistan “keenly looks forward” to the lender’s Executive Board’s “approval for the 9th Review at the earliest”. “It was a pleasure to meet you and have a productive exchange of views on the IMF’s continued engagement with Pakistan,”…
Read More
KARACHI: The UAE-based AD Ports Group has signed a 50-year concession agreement with Karachi Port Trust (KPT) to operate Karachi Gateway Terminal Limited (KGTL) and invest $220 million (Rs63.129 billion) for infrastructure development in the first 10 years of the deal, a statement said on Thursday. The development takes place when cash-strapped Pakistan looks for external financing to support its…
Read More
ISLAMABAD: The risk of default on external debt repayments will emerge within the first six months (July-Dec), as Pakistan will have to repay $10.35 billion in foreign debt servicing till end of December 2023. In order to avert a balance of payment crisis, including repayment of external debt and obligations, Pakistan requires injections of $4 to $6 billion immediately in…
Read More
ISLAMABAD: In the wake of increasing reliance on imported gas, Pakistan is left with no option but to go fresh long-term LNG import agreements at the GtG level with LNG-producing countries as the existing two import deals with Qatar may go in jeopardy in 2026 because of revision of the price cap clause that is due after 3 years. Under…
Read More
KARACHI: Emerging oil marketing companies (OMCs) have accused the Oil and Gas Regulatory Authority (OGRA) of deflecting from its responsibility to resolve the problems of the oil sector companies. Oil Marketing Companies Association of Pakistan (OMAP), the representative body of emerging OMCs in a letter written to the OGRA chairman on Thursday noted that the response of the regulator to…
Read More
