• The GCC Financial Forum 2019
PM Khan vows to steady Pakistan as bailout looms

PM Khan vows to steady Pakistan as bailout looms

Pakistan Prime Minister Imran Khan yesterday vowed to steer the country out of a looming balance-of-payments crisis, days after his young government announced it would seek a fresh IMF bailout deal. The cricketer-turned-premier said Pakistan needs $10- 12 billion, which he dismissed as “not a major issue” in televised comments. “We will get out of this. I will take (the country) out of this,” he added. “We have two options: one, we can go to friendly countries and ask them to bridge this gap; and second, that we go to the IMF,” he said, adding that the government has decided to do “both”.

Finance minister Asad Umar, who is attending the fund’s annual meeting in Bali this week, announced late Monday that the government had decided to begin talks with the IMF for a “stabilisation recovery programme”. Pakistan has gone to the IMF multiple times since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis. Khan also announced that his govt will begin a massive low-cost housing scheme with the aim of building five million homes in five years.




Khloe breaks up with Tristan

Khloe breaks up with Tristan

American reality star Khloe Kardashian has called it quits with NBA player Tristan Thompson, just 10 months after the two welcomed their daughter. E! News confirmed recently that the couple has split up. This comes right around the sam

Britain to strip IS teen of citizenship

Britain to strip IS teen of citizenship

Britain will strip citizenship from a UK teenager who joined the Islamic State group in Syria but now wants to return home with her newborn baby, a lawyer for her family said Tuesday. Shamima Begum’s fate has stirred controversy

Venezuela on alert

Venezuela on alert

Venezuela’s military said Tuesday it was on alert at its frontiers following threats by US President Donald Trump and suspended air and sea links with the island of Curacao ahead of a planned aid shipment. Opposition leader and s


Khloe breaks up with Tristan

Khloe breaks up with Tristan

American reality star Khloe Kardashian has called it quits with NBA player Tristan Thompson, just 10 months after the two welcomed their daughter. E! News confirmed recently that the couple has split up. This comes right around the sam

Palladium tops $1,500

Palladium tops $1,500

Precious metal palladium yesterday reached above $1,500 per ounce for the first time in trading thanks to supply deficit worries, according to analysts. Palladium hit $1,504.52 per ounce from $1,480.15 late on Tuesday. It later yesterd

ABG reports profit of US $129 million

ABG reports profit of US $129 million

Al Baraka Banking Group (ABG) reported increases in income, with a 4 per cent increase in net operating income, a 5pc rise in total net income, as net income attributable of shareholders remained unchanged compared to the year 2017. Th