Business News
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Politicians advised to mend fences to prevent economic meltdown | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy has partially shut down and millions of people have lost jobs due to continuous political instability. The nation is destined to encounter hyperinflation with the domestic currency likely plunging to Rs500 against the US dollar if the situation persists. Former prime minister Nawaz Sharif also anticipated late last week that the…
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Has govt increased petrol price in Pakistan?
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[ad_1] A man fills the fuel tank of a car. — AFP/File Following a reduction in international crude oil prices, a viral notification — allegedly issued by the Finance Division — saying that petrol prices had increased was declared to be “fake”, the Ministry of Information and Broadcast (MOIB) said. The notification stated the costs…
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Saudi Arabia, OPEC+ producers announce surprise oil output cuts | The Express Tribune
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[ad_1] DUBAI: Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15 million barrels per day in a surprise move they said was aimed at supporting market stability. The group had been largely expected to stick to its already agreed 2 million bpd cuts when its…
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POL relief denied to appease IMF | The Express Tribune
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[ad_1] ISLAMABAD: Instead of providing relief to the people, the federal government has increased the petroleum development levy (PDL) on high-speed diesel (HSD) by Rs5 per litre, pushing it up from Rs45 to Rs50 per litre — fulfilling another condition imposed by the International Monetary Fund (IMF) for the revival of the stalled $6 billion…
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Govt to facilitate Hajj pilgrims in every possible manner: Ishaq Dar
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[ad_1] Finance Minister Ishaq Dar chairs a meeting to review progress on Hajj Scheme 2023 on April 1, 2023. — PID ISLAMABAD: The government will provide all possible facilities to the pilgrims intending to perform Hajj this year, vowed Finance Minister Ishaq Dar on Saturday. The finance minister made the remarks while chairing a meeting…
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Gold slips ahead of interest rate announcement next week
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[ad_1] An undated image of gold bars. — AFP/File Gold prices registered meagre losses on Saturday as investors stayed on the sidelines ahead of the Monetary Policy Committee (MPC) announcement due next week. Data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) declined by Rs400 per…
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Pakistan inflation shatters all records, tops 35% for the first time
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[ad_1] Vendors are selling vegetables at a market in Lahore on March 26, 2023. — Online Pakistan’s annual inflation rate tore past 35% in March, the country’s statistics agency said on Saturday, the first time since the available data i.e. July 1965. Data released by the Pakistan Bureau of Statistics (PBS) suggested that the country…
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Ishaq Dar hopes for life without IMF as bailout stalled
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[ad_1] Finance minister Ishaq Dar. — AFP/File Irked by the months-long delay in the revival of the International Monetary Fund (IMF) programme, Finance Minister Ishaq Dar on Friday said that Pakistan must end its dependency on the Washington-based lender. The cash-strapped nation has been negotiating with the IMF since late January for the release of…
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After Honda, Yamaha also raises price of its bikes
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[ad_1] A representational image of Yamaha bikes. — Twitter/@YamahaMotorPk Japanese bike-maker Yamaha Motor Pakistan Friday decided to pass on the burden of the rising cost of production to its customers as it notified new prices of its five models. The bike maker increased the prices of its five models by up to Rs38,500, a notification…
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Honda Atlas jacks up prices of motorcycle
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[ad_1] An undated image of Honda Atlas’s CB200X. — Twitter/@honda2wheelerin Following the announcement of an extension in plant closure for 15 days, Atlas Honda — the biggest player in the two-wheeler segment in Pakistan — on Friday also notified an increase in the rates of its motorcycle prices. Atlas Honda jacked up prices by Rs5,000-15,000.…
