Business News
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Current account posts $18 million surplus in April
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[ad_1] Bundles of freshly printed US dollar banknotes are processed for packaging at the US Treasury’s Bureau of Engraving and Printing in Washington on July 20, 2018. — AFP As the government continues to restrict imports amid a liquidity crisis, the current account posted a surplus for the second consecutive month in April. The country…
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Rs9b released for equity injection into power plant | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has released Rs9 billion for equity injection in an attempt to kick-start work on the stalled 660-megawatt Jamshoro coal-based power plant. A local bank had earlier refused to extend financing of Rs10 billion owing to the federal government’s reluctance to provide funds for equity injection. Pakistan has been paying commitment…
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Gold price falls by Rs2,000 per tola
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[ad_1] A representational picture of gold jewellery. — AFP/File The price of gold fell in Pakistan Tuesday in line with developments in the international market, where the rate has been fluctuating because of uncertainty surrounding the US debt ceiling. The rate of gold (24 carats) decreased by Rs2,000 per tola and Rs1,714 per 10 grams…
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Pakistan exports record volume of fuel oil | The Express Tribune
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[ad_1] As the economic crisis deepens in Pakistan, the typically import-reliant nation is witnessing a remarkable surge in fuel oil exports, reaching a record 164,000 tonnes last month, the highest volume since 2017. According to data from Kpler compiled by Bloomberg, the country did not record any fuel oil imports during March and April. The…
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In relief for Pakistan, South Korea defers loan worth millions
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[ad_1] The government of Pakistan signs agreement with the Republic of Korea under the G-20 Debt Service Suspension Initiative on May 15, 2023 in Islamabad. — PID The Republic of Korea on Monday differed Pakistan’s loan worth $19.911 million on Monday, under the G-20 Debt Service Suspension Initiative (DSSI) framework as Islamabad battles a worsening…
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Govt cuts petrol price for next fortnight
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[ad_1] An employer of a petrol pump fills the fuel tank of a bike in Karachi, on March 17, 2023. — The News ISLAMABAD: The federal government Monday announced decreasing the price of petrol by Rs12 per litre to Rs272 per litre after a fall in the international oil rate. In a televised address, Minister for…
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Debt suspension deal with Korea signed | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Korea have signed a Debt Service Suspension Agreement. This agreement allows for the deferment of loan payments worth $19.911 million under the G-20 Debt Service Suspension Initiative (DSSI). Originally scheduled to be repaid between July and December 2021, the repayment will now be spread over six years, with a one-year grace…
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Massive reduction announced in petrol, diesel prices | The Express Tribune
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[ad_1] The federal government on Monday announced a massive reduction in the prices of petroleum products in the country following a declining price trend in the international oil markets. “The government has decided to reduce the existing prices of petroleum products in order to pass on the benefits of decreasing price trend of petroleum products in the…
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Gold continues upward trajectory with Rs1,100 rise
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[ad_1] An undated image of gold jewellery at a store. — AFP/File The rate of gold continued to rise in Pakistan Monday as the international price of the safe-haven bullion also went up. The price of gold (24 carats) increased by Rs1,100 per tola and Rs943 per 10 grams to reach Rs235,100 and Rs201,560, respectively,…
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Isn’t climate change a matter of national security? | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is widely recognised as one of the country’s most vulnerable to the impacts of climate change. The nation is actively working to mitigate the effects of climate change on its food and water supply, healthcare system, forests, energy infrastructure, and other critical areas. However, the security implications of climate change are largely…
