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Tag: Financial Challenges

Pakistan IMF
Business
  • Web Desk
  • Feb 23, 2024
Pakistan seeks $6 billion IMF loan amidst debt challenges

Pakistan is expected to pursue a new loan of at least $6 billion from the International Monetary Fund (IMF), according to a report.

auto financing Pakistan
Business
  • Web Desk
  • Oct 21, 2023
Pakistan’s auto financing sees Rs95.6 billion decline over 15 months

In September 2023, outstanding auto loans in Pakistan experienced a continual decrease, marking the 15th consecutive month of contraction.

Nokia
Technology
  • Web Desk
  • Oct 19, 2023
Nokia to cut 14,000 jobs due to poor sales performance

On Thursday, Nokia, the renowned phone manufacturer, revealed plans to slash up to 14,000 jobs as part of a cost-cutting strategy.

Pak Suzuki Stock Market Exit
Business
  • Web Desk
  • Oct 19, 2023
Pak Suzuki announces exit from stock market due to declining profits

In a recent announcement to the Pakistan Stock Exchange, Pak Suzuki revealed that its Board of Directors has made a decision to exit PSX.

Caretake PM calls for faster privatisation of loss making companies in Pakistan
Business
  • Web Desk
  • Oct 09, 2023
Caretaker PM urges faster privatisation of state-owned businesses facing losses

In a significant move, caretaker Prime Minister (PM) Anwaar-ul-Haq Kakar has instructed the relevant authorities to hasten the privatisation process of state-owned enterprises (SOEs) facing financial losses.

8 state owned companies Rs2201 billion
Business
  • Hum News
  • Sep 09, 2023
PIA’s path to recovery: Govt injects ‘critical funds’ to settle debts

Pakistan International Airlines (PIA), grappling with its financial burdens, announced on Saturday that it has found relief as the government injected critical funds into the national carrier. In a statement shared on the social media platform X (formerly known as Twitter), PIA disclosed that the government of Pakistan has stepped in to provide vital financial support, leading to an alleviation of the airline’s fiscal challenges. Additionally, PIA affirmed that its restructuring efforts are progressing as planned.

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