The United Arab Emirates intends to invest $1 billion in Pakistani companies across various sectors, state news agency (WAM) reported citing an official source in Abu Dhabi. The UAE is keen to continue cooperation with Pakistan “in various fields, which include gas, energy infrastructure, renewable energy, health care,” the agency added. The move will likely help revive investor sentiment in the country, which has been beset by dwindling foreign exchange reserves as well as a depreciating rupee. However, as an IMF bailout programme becomes clearer, sentiment has improved and the stock market on Friday rallied by some 670 points. Pakistan and the IMF signed the $6bn bailout accord – Extended Fund Facility (EFF) – in 2019. But the release of a $1.17 billion (seventh and eighth) tranche has been on hold since earlier this year, when the IMF expressed concern about Pakistan’s compliance with the deal.
The Central Directorate of National Savings (CDNS) has accomplished a target of Rs 600 billion…
About 777 planes could land at Faisalabad International Airport after the expansion of its runway…
The price of 24 karat per tola gold increased by Rs 2,100 and was sold…
The government needs to establish long-term and sustainable policies in consultation with the real stakeholders…
The value-added export-oriented textile industry should be given the top priority of the government, providing…
The Ferozepur Road Industrial Association (FRIA) has asked the government to announce soft financing with…
Leave a Comment