ISLAMABAD: The Asian Development Bank (ADB) on Wednesday approved three projects totaling $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development. The projects approved this week, will focus on improving domestic resource mobilization; rehabilitating schools damaged by the devastating August 2022 floods; and enhancing agricultural productivity to improve food security, ADB said in …

ISLAMABAD: The Federal Board of Revenue (FBR) has frozen all of Pakistan International Airlines’ (PIA) bank accounts due to non-payment of federal excise duty. This action has exacerbated the problems faced by the national flag carrier, which has been struggling with serious financial crises for several years. According to FBR officials, PIA’s liabilities exceed Rs55 billion in federal excise duty …

KARACHI: The State Bank of Pakistan (SBP) on Wednesday announced that Saudi Arabia had extended the term for a deposit of $3 billion to Pakistan for one more year. “The Saudi Fund for Development (SFD), on behalf of the Kingdom of Saudi Arabia, has extended the term for the deposit of $3bn, maturing on December 5, for another year,” the …