Pakistan Economy: Trapped Between China and US

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On June 20, after multiple rounds of talks failed to produce a deal, crisis-hit Pakistan officially sought Washington’s help to get favorable treatment from the International Monetary Fund for a bailout from the country’s disastrous fiscal situation – at a potential price of tilting away from its relationship with China. The request to the IMF came against the backdrop of…

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Difficult Times Ahead’ For Country, Warns PM Shehbaz

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| Shehbaz Sharif tells senators PTI govt violated agreement with IMF | Says conditions for deal with IMF finalisedbut ‘positive results will take some time’ | Directs FIA to investigate poor quality of work on Murree Expressway| Stresses use of modern technology in mining sector ISLAMABAD    –    Prime Minister Shehbaz Sharif said Thursday that the coalition government is committed to…

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Sale of over 66pc KES Power stake in K-Electric: Shanghai Electric must get the green light within three months, PM tells Khaqan

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Prime Minister Shahbaz Sharif has directed the task force on KE headed by former Prime Minister Shahid Khaqan Abbasi to resolve all outstanding issues of KE within three months, aimed at giving green signal for sale of over 66 percent shares of KES Power to Chinese firm M/s Shanghai Electric Power, well-informed sources told Business Recorder. A high-level delegation of KE…

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Pakistan, Saudi Arabia renew commitment to bolstering economic ties

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Pakistan and Saudi Arabia have renewed their commitment to bolster economic ties in diverse fields including construction, agriculture, livestock and social sector. This commitment to strengthen economic relations was reiterated in an exclusive meeting organized by the Punjab Board of Investment and Trade in the honour of a high-profile Saudi Business Delegation visiting Punjab. The Saudi Business Delegation was led…

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43pc foreign-funded projects found to be ‘problematic’

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The Ministry of Economic Affairs said on Thursday that 43 per cent of about $35 billion worth of foreign-funded projects were problematic — either not progressing well or unable to deliver the desired outcomes. At a review meeting of the National Coordination Committee on foreign-funded projects, the ministry reported that it was managing an ongoing portfolio of $34.8bn such projects…

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Not aware of any oil deal with Pakistan, says Russian envoy

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Russian Consul General Andrey Viktorovich Fedrov has stated that he wasn’t aware of any oil deal between Russia and Pakistan. However, he said that Pakistan and Russia were currently experiencing friendly bilateral ties and Kremlin considers Islamabad a ‘friendly’ country. In an interview, the Russian consul general also expressed his desire to establish trade and economic cooperation with between Russia…

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