Business News Archive

High debt levels to persist until FY24, says IMF

WASHINGTON: The Inter­national Monetary Fund (IMF) on Wednesday projected Pakis­tan’s primary deficit to turn positive one per cent of GDP in the FY21 from a negative 0.5pc in FY20 but said the country’s debt levels are likely to remain elevated at above …

Dollar breaks 4-day losing streak on trade tensions

The dollar firmed on Monday, breaking a four-day losing streak, as fresh concerns over the trade war between the United States and China kept risk appetite subdued and trade-oriented currencies such as the Australian dollar under pressure. A Bloomberg report that Chinese officials were …

Suzuki raises Alto, bike prices

KARACHI: The Pak Suzuki Motor Company Limited (PSMCL) on Tuesday announced second price jump in two variants of Alto660cc by Rs70,000-85,000 from Oct 1 followed by price hike of Rs2,000-6,000 in two-wheelers. Two-time price increase in Alto suggests the PSMCL is now …

Govt looks for local firms to invest in Reko Diq

LAHORE: The Balochistan government is trying to persuade large Pakistani investors to form a consortium to invest their money in the development of Reko Diq copper and gold mining project. “Our first priority is to convince Pakistani companies to invest in this …