ISLAMABAD -- Pakistan's government is taking desperate measures to scrape together foreign funds -- from leasing port facilities to the United Arab Emirates to launching a new investment council -- as it begins to lose hope for a deal with the International Monetary Fund to avert default.
Economy
Pakistan shifts gears to avoid default with port lease, FDI drive
Experts doubt Islamabad's ability to lure much investment without IMF support
Part of Karachi's port will be controlled and developed by a UAE group under a new lease agreement, as Pakistan scrambles to scrape together foreign funds. © AFP/Jiji
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