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Articles for tag: Bank, Funding, Pakistan, Power, reforms, sector, Seeking, significant, specific, world

January 16, 2026

News Desk

The World Bank is seeking specific reforms in the power sector before significant funding to Pakistan

An undated image of the World Bank building. — Reuters FinMin meets World Bank Director for Pakistan. The World Bank recognizes Pakistan’s progress towards stability. Both sides agree that targeted sectoral reforms could boost exports. ISLAMABAD: The World Bank (WB) has urged Pakistan to take a results-oriented approach in seeking a multi-billion dollar loan in the medium to long term to address its financially draining power sector. The News reported on Friday. There is a long wish list for the energy sector, including the power and gas sectors, but the World Bank has notified the government that it will assess

December 22, 2025

News Desk

Israel’s security cabinet has approved 19 new settlements in the West Bank

The move brings the approved settlements over three years to 69, Finance Minister Smotrich’s office says View of Israeli settlements in the West Bank. PHOTO: REUTERS Israel’s security cabinet has approved the establishment of 19 new settlements in the occupied West Bank, a move the country’s far-right finance minister said Sunday is aimed at preventing the establishment of a Palestinian state. The decision brings the total number of settlements approved in the past three years to 69, according to a statement from Finance Minister Bezalel Smotrich’s office. The latest approvals come days after the United Nations said the expansion of

December 21, 2025

News Desk

World Bank approves $700 million for Pakistan’s economic stability

A World Bank building. — Reuters/ Archive Pakistan will receive $700 million from the World Bank under a multi-year program. Funding was approved under the PRID-MPA initiative: World Bank. $600 million approved for Centre, $100 million for Sindh: World Bank. The World Bank said it has approved $700 million in financing for Pakistan as part of a multi-year initiative aimed at supporting the country’s macroeconomic stability and service delivery. The funds will be released under the Public Resources Programmatic Approach for Inclusive Development-Multiphase Development (PRID-MPA), which could provide up to $1.35 billion in total funding, the lender said. Of this

December 18, 2025

News Desk

Global financial crime investigators visit Canada after record bank fine

The interviews included executives from TD Bank, which last year paid the largest fine ever to settle a US money-laundering case. What would normally be a regular once-a-decade review has raised concerns in Ottawa and Toronto’s financial sector, the sources said, as Canada weighs TD’s $3 billion fine. The visit also coincided with new charges against fugitive Canadian Olympic snowboarder turned alleged cocaine kingpin Ryan Gamou. A negative report from the Financial Action Task Force, an international crime watchdog, could hurt Canada’s foreign investment and the country’s reputation as Prime Minister Mark Carney tries to boost productivity and make the

December 11, 2025

News Desk

10 million women get BISP bank accounts

Islamabad: After 16 years of neglect and being at the mercy of agents, over 10 million of Pakistan’s poorest women have become account holders for the first time and will soon start receiving monthly cash subsidies under the Benazir Income Support Program (BISP) without standing in queues. BISP beneficiaries, who were captive customers of commercial banks, did not have bank accounts until recently and received benefits through a limited liability account. Banks have been unwilling to treat poorer women on the same level as other customers, despite charging a 0.5% commission on their transactions and sometimes using their money without

November 24, 2025

News Desk

The US Export-Import Bank will invest in Pakistan’s critical mineral projects

An overview of the Reko Diq mines in Balochistan. — APP/File The $100 billion initiative includes projects in Egypt and Europe. The investments align with President Trump’s energy agenda. The Bank’s objective is to secure supply chains for critical minerals. The US Export-Import Bank (EXIM) has announced plans to invest in Pakistan’s critical mineral projects as the country aims to increase its energy production. The announcement is part of a $100 billion investment plan to secure U.S. and allied supply chains for critical minerals, nuclear power and liquefied natural gas, agency president John Jovanovic said. Financial Times in an interview

October 25, 2025

News Desk

Settler violence interrupts the olive harvest in the West Bank

Volunteers help Palestinian farmers harvest olives in the Palestinian town of Birzeit, north of Ramallah in the Israeli-occupied West Bank, on October 23, 2025. — AFP The scene shocked many and highlighted the violence of this year’s olive harvest in the Israeli-occupied West Bank: a young masked man punches an elderly Palestinian woman picking olives, who then collapses to the ground. The incident during an attack by Israeli settlers, filmed by an American journalist, took place in the town of Turmus Ayya near Ramallah, a hot spot for violence this year. “Everyone ran away because the settlers attacked suddenly, maybe

October 19, 2025

News Desk

Pakistan seeks China’s support for Brics membership in the New Development Bank

Pakistan’s Finance Minister Muhammad Aurangzeb (right) and China’s Vice Finance Minister Liao Min shake hands during a meeting in Washington, DC, US on October 16, 2025. —X@Financegovpk Aurangzeb welcomes Chinese investment in Pakistan. He informs Liao Min of the staff-level agreement with the IMF. Discusses Pakistan-US economic ties with MP. WASHINGTON: Islamabad has sought Beijing’s support for its participation in the New Development Bank (NDB) and expressed its appreciation for increased investment by Chinese companies in agriculture, industry, minerals and other key sectors in Pakistan. The development came as Finance Minister Muhammad Aurangzeb met Chinese Vice Finance Minister Liao Min

October 18, 2025

News Desk

Pakistan finalizes sale of First Women Bank to UAE company

Prime Minister Shehbaz Sharif, Marshal Syed Asim Munir and federal ministers witness the signing ceremony of the majority stake sale of First Women Bank to a UAE company on October 17, 2025. — PID The prime minister says the privatization of FWBL is a milestone in strengthening the UAE’s trade ties. Premier says the deal marks the start of a promising partnership. Prime Minister renews resolve to open new doors for private sector-led growth. Prime Minister Shehbaz Sharif on Friday hailed the privatization of First Women Bank Limited (FWBL) as “the first raindrop” in Pakistan’s new privatization drive, calling it

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