Business News
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IMF gets UAE assurance on Pakistan’s external financing gap
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[ad_1] In a major development, the United Arab Emirates (UAE) on Tuesday gave assurance to the International Monetary Fund (IMF) on cash-strapped Pakistan’s external financing gap. According to Geo News, the development came during a meeting between the IMF mission chief and the UAE ambassador in Pakistan on Tuesday, on the sideline of the ongoing…
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Rs22.92b burden may be passed on to power users | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday indicated that it would allow the ex-Wapda distribution companies (XWDISCOs) as well as K-Electric (KE) to transfer the burden of Rs22.92 billion to their consumers on account of the adjustment for the first quarter of the fiscal year 2023-24 The regulator conducted a public…
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Experts ‘evaluated’ Reko Diq mine share price
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[ad_1] A construction site of Tethyan Copper Company, a joint venture between Barrick Gold of Canada and Antofagasta Minerals of Chile, in Reko Diq, in Balochistan. — Astralconstructors.com/File ISLAMABAD: A top official has said that the federal government hired global experts to assess the share price of the Reko Diq gold mine as Islamabad seeks…
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Azerbaijan eager to promote bilateral trade | The Express Tribune
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[ad_1] LAHORE: Ambassador of Pakistan to Azerbaijan, Bilal Hayee, visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) regional office in Lahore on Monday and met with FPCCI President Irfan Iqbal Sheikh. The discussions focused primarily on enhancing cooperation in diverse fields, including trade, investment, technology, and the exchange of business delegations. The…
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IMF seeks further power tariff hike | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan may have to further increase electricity prices and revise down its primary budget surplus of Rs417 billion for the first quarter after the International Monetary Fund (IMF) did not accept the government’s position on fiscal numbers and the circular debt. The global lender also raised questions over the role, mandate and powers…
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Pakistan hopeful of ‘successful completion’ of first IMF review
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[ad_1] In this file photo taken on April 15, 2020, a sign is seen outside the headquarters of the International Monetary Fund (IMF) in Washington, DC. — AFP With the negotiation between the International Monetary Fund’s (IMF) team and Pakistani authorities entering the final round, Islamabad is optimistic about the successful completion of the first…
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PSX continues to make gains, crosses 56,000 milestone
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[ad_1] Pakistani traders stand beneath an electronic board displaying share prices at the Pakistani Stock Exchange (PSX). — INP/File KARACHI: The Pakistan Stock Exchange (PSX) continued to make gains as it peaked at an all-time high by crossing the 56,000 mark on Monday. The KSE-100 index reached 56,176.16 points during the intraday trading, up by 784.80…
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PSX crosses 56,000 points as rupee continues downward trend | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) surpassed another milestone of 56,000 points to reach a new all-time high, extending the record-making spree on Monday. At the same time, the Pakistani rupee dropped to a six-week low of Rs288 against the US dollar in the inter-bank market due to an increase in demand for the…
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Hajj Fund: enabling savings with economic development | The Express Tribune
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[ad_1] KARACHI: Hajj is the fifth pillar of Islam and is considered obligatory for every Muslim, once in a lifetime, who can afford expenses of the journey and has the required physical strength. Hajj is considered a physically and economically demanding journey that requires proper planning. At the societal level, Hajj not only builds up…
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Sometimes good economic news is bad | The Express Tribune
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[ad_1] KARACHI: Some recent numbers on Pakistan’s economy are seemingly showing promise. Yet, this phase of the economy carries a paradox; what appears as good news might also spell trouble. It’s crucial for policymakers to avoid the temptation of focusing solely on favourable data. A significant economic figure showcasing improvement is the current account deficit,…
