Ariba Shahid

Karachi

Pakistan Correspondent at Reuters

@Reuters correspondent - Pakistan 🇵🇰 ▪︎ Econ ▪︎ Finance ▪︎ Tech ▪︎ Past: @DealStreetAsia & @occrp fellow ▪︎ views mine ▪︎ [email protected] ▪︎

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Articles

Pakistan mulls US oil imports to ease trade imbalance, sources say

17 hours ago | ca.finance.yahoo.com | Ariba Shahid

By Ariba Shahid KARACHI (Reuters) - Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher U.S. tariffs, according to a government source directly involved with the proposal and a refinery executive. Countries are scrambling to find ways to lower their U.S. tariff burdens, including buying more U.S. oil and gas, as President Donald Trump's sweeping import duties rattle economies and markets.
Pakistan to seek fresh bids for national airline, says adviser

5 days ago | zawya.com | Ariba Shahid

The Pakistani government will seek fresh expressions of interest for the sale of Pakistan International Airlines later this month, a government adviser said on Thursday, two days after PIA reported its first annual profit in over two decades. Pakistan has been looking to offload a 51-100% stake in debt-ridden PIA, part of an effort to raise funds and reform cash-bleeding state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme.
Pakistan turns to bitcoin miners, AI data centers to use surplus power

6 days ago | ca.news.yahoo.com | Ariba Shahid

By Ariba ShahidISLAMABAD (Reuters) - Pakistan plans to allocate part of its surplus electricity to Bitcoin mining and AI data centres, the head of Pakistan's Crypto Council and adviser to the finance minister said on Wednesday, adding it had held talks with several mining firms. Pakistan's energy sector is grappling with challenges, including high electricity tariffs and surplus generation capacity.
Pakistani consortium to start production in ADNOC's offshore Block-5 by 2027

6 days ago | zawya.com | Ariba Shahid

Pakistan's Oil and Gas Development Company Limited expects to start production in Abu Dhabi's Offshore Block-5 by 2027, while also increasing domestic oil and gas output and diversifying into minerals, its CEO said on Wednesday. OGDCL partnered with Abu Dhabi National Oil Company (ADNOC) in 2021 to explore and develop oil and gas resources in the block.
IMF reaches staff-level deal with Pakistan to unlock $1.3 billion of new cash

3 weeks ago | kfgo.com | Kanishka Singh |Ariba Shahid

By Kanishka Singh and Ariba ShahidWASHINGTON/KARACHI (Reuters) -International Monetary Fund staff reached a deal with Pakistan for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout program, the IMF said on Tuesday. Pending board approval, Pakistan can unlock the $1.3 billion under a new climate resilience loan program spanning 28 months.
Analysis-Pakistan pauses rate cuts, but likely not for long

1 month ago | kfgo.com | Ariba Shahid

By Ariba ShahidKARACHI (Reuters) – With inflation cooling, Pakistan’s central bank hit pause on its multiple rounds of monetary easing that might have risked destabilising its currency or worsening the trade deficit. Economists said the government should shift its focus to implementing economic reforms as interest rate cuts are not the elixir for growth, after the country’s central bank on Monday unexpectedly kept interest rates unchanged at 12%.
Pakistan Pauses Rate Cuts, but Likely not for Long

1 month ago | gurutrade.com | Ariba Shahid |Saad Sayeed |Jacqueline Wong

Pakistan's central bank halts rate cuts as inflation cools Rate cuts alone may not meet growth targets, economist says Fiscal austerity measures pose challenges to reviving demand Rate cuts may resume later this fiscal year, early next year KARACHI, March 12 (Reuters) - With inflation cooling, Pakistan's central bank hit pause on its multiple rounds of monetary easing that might have risked destabilising its currency or worsening the trade deficit.
Pakistan Central Bank Surprises with Hold on Key Policy Rate

1 month ago | gurutrade.com | Ariba Shahid |YP Rajesh

KARACHI, March 10 (Reuters) - Pakistan's central bank held its key policy rate at 12% on Monday, it said in a statement, a widely unexpected move which halted an easing cycle that witnessed six straight reductions since June. The central bank has slashed rates by 1000 bps from an all time high of 22% in June 2024, to revive economic sentiment and growth, while navigating reforms under a $7 billion facility from the International Monetary Fund (IMF) in September.
Pakistan unexpectedly halts easing cycle, keeping key interest rate at 12%

1 month ago | streetinsider.com | Ariba Shahid

1. NOW2. SAIL3. ORCL4. SPY5. SMTC6. PLTR7. REGN8. TSLA9. ASAN10. F Tweet Share E-mail0 shares FILE PHOTO: A man walks with sacks of supplies on his shoulder to deliver to a nearby shop at a market in Karachi, Pakistan June 11, 2024.
Pakistan nearing $4.5 billion loan to ease power sector debt

1 month ago | bilyonaryo.com | Ariba Shahid

SOURCE: ReutersPakistan to sign term sheets for $4.5 bln loanRepayment over 5-7 years at floating rateLoan to eliminate energy sector debt, a key IMF reformBy Ariba ShahidKARACHI, March 7 (Reuters) – Pakistan’s government is negotiating a 1.25 trillion Pakistani rupee ($4.47 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.