Business News
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Ishaq Dar says Shell not closing business in Pakistan
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[ad_1] Finance Minister Ishaq Dar speaking during a press conference on Saturday, June 17, 2023, in this still taken from a video. — YouTube/Geo News Finance Minister Ishaq Dar on Saturday rubbished speculations surrounding Shell’s intent to exit Pakistan, saying that the global energy giant was neither closing its business in the country nor leaving anyone unemployed. …
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China refinances $1 billion Pakistan loan
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[ad_1] The picture shows $100 notes. — AFP/File In a positive development, China on Friday rolled over a $1 billion loan to Pakistan shoring up the State Bank of Pakistan-held (SBP) foreign exchange reserves. The development came hours after Finance Minister Ishaq Dar informed the National Assembly’s Standing Committee on Finance and Revenue that China would be…
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Slight reduction in KE tariff notified | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has notified a reduction of Rs0.05 per unit in power tariff for consumers of K-Electric (KE) on account of fuel charges adjustment (FCA) for April 2023. KE had requested an increase of Rs0.49 per unit, Nepra said in a statement. The regulator made the decision and…
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Stockbrokers lose faith: Cancel licences at PSX | The Express Tribune
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[ad_1] KARACHI: The stock trading industry in Pakistan is facing a gradual decline as at least eight stockbrokers have applied to cancel their licenses at the Pakistan Stock Exchange (PSX) this week. The combination of high interest rates, political drama, economic uncertainty, government mismanagement, and an aggravated economic situation has left stockbrokers disappointed. Speaking to…
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Rupee consolidates on back of improved reserves | The Express Tribune
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[ad_1] ISLAMABAD: The consolidating Pakistani currency on Friday ticked up 0.06%, or Rs0.18, to Rs287.19 against the US dollar in inter-bank market after the country’s foreign exchange reserves improved slightly. In open market, however, the currency dropped 0.67%, or Rs2, to Rs297 against the greenback, according to the Exchange Companies Association of Pakistan. Accordingly, the…
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‘Budget not part of 9th review’, govt says in response to IMF criticism
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[ad_1] Finance Minister Ishaq Dar addressing a meeting virtually. — APP/File Following the International Monetary Fund’s (IMF) concerns regarding the budget public, the Finance Ministry has clarified that the document is not part of the pending ninth review that has been delayed since November of last year. In a two-page rebuttal of IMF’s Resident Representative…
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Is Pakistani govt issuing Rs10,000 banknote?
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[ad_1] A picture of a Rs10,000 note being circulated on social media. — Twitter/@GeoFactCheck A picture of a Rs10,000 banknote has been circulating on social media, with netizens claiming that the State Bank of Pakistan (SBP) is gearing up to launch a higher denomination banknote. While the rumours sparked a debate over the fragile state…
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Pakistan turns to Azerbaijan for LNG | The Express Tribune
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[ad_1] BAKU: Azerbaijan will start sending cargo containers of liquefied natural gas (LNG) to Pakistan from next month, another major achievement for Pakistan towards fulfilling its energy needs after importing the Russia crude oil. The decision was taken during a meeting between Prime Minister Shehbaz Sharif and Azerbaijan’s President Ilham Aliyev in Baku on Thursday,…
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Dar says no to IMF diktat | The Express Tribune
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[ad_1] ISLAMABAD: What appears to be an end of a thorny four-year relationship, Finance Minister Ishaq Dar on Thursday refused to take the International Monetary Fund’s advice on the issue of giving tax exemptions while terming its attitude “not professional”.In a strongly-worded response to the IMF’s statement about the new budget and the tax…
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Dar says no change in petrol, diesel prices for next fortnight
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[ad_1] A closeup of a fuel gun. — AFP/File Finance Minister Ishaq Dar announced that the government is not changing the petrol price in the country for the next fortnight. He made the announcement while addressing the media in Islamabad on Thursday. Product Existing prices w.e.f 01.06.2023 New prices w.e.f 16.06.2023 Change Petrol Rs262 Rs262…
