Business News
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Energy tariff ‘compulsory’ for export sectors | The Express Tribune
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[ad_1] KARACHI: The government’s decision to discontinue the Regionally Competitive Energy Tariff (RCET) of gas and electricity for five export-oriented sectors is expected to create a significant setback for the national economy, potentially leading to reduced competitiveness and revenue losses…
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Finance Bill 2023 tabled in NA as govt scrambles to secure IMF loan
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[ad_1] Finance Minister Ishaq Dar Wednesday tabled the Finance Bill 2023 — or the “mini-budget” — in the National Assembly as the government seeks to meet the preconditions for unlocking the $1.1 billion International Monetary Fund (IMF) loan. Running against…
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Rupee continues winning streak against dollar amid ‘market optimism’
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[ad_1] A representational image of a man counting rupee notes at a money exchanger. — AFP/File The Pakistani rupee further strengthened on Wednesday against the dollar, continuing its winning streak in the interbank market as the government gears up to…
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Govt tables ‘mini-budget’ for revival of crucial IMF funding | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar on Wednesday tabled Finance (Supplementary) Bill 2023 dubbed as “mini-budget” in the National Assembly and Senate in order to meet the conditions set by the International Monetary Fund (IMF) for the revival of the derailed…
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Another fuel price hike on the cards | The Express Tribune
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[ad_1] ISLAMABAD: The government is likely to drop another petrol bomb on the masses on Feb 16 (Thursday) after it already jacked up the prices by Rs35 per litre on Jan 29, two days ahead of schedule. The masses should…
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Fitch Ratings downgrades Pakistan to ‘CCC-‘
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[ad_1] The logo of Fitch Ratings. — AFP/File Fitch Ratings Tuesday announced downgrading Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-” from “CCC+”. The downgrade reflects further sharp deterioration in external liquidity and funding conditions and the decline of…
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Fitch downgrades Pakistan’s credit rating to CCC- | The Express Tribune
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[ad_1] KARACHI: Global ratings agency Fitch cut Pakistan’s sovereign credit rating on Tuesday by two notches from CCC+ to CCC-, citing policy and large refinancing risks, critically low reserves and difficult conditions set by the International Monetary Fund (IMF). This…
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Govt gives in to IMF, more than doubles gas tariff | The Express Tribune
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[ad_1] ISLAMABAD: The government on Monday approved an increase up to 113% in the natural gas prices to recover Rs310 billion from the majority of consumers in six months, putting a minimum of Rs736 billion additional burden on the citizens…
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Virgin Atlantic announces suspension of services to Pakistan
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[ad_1] Virgin Atlantic aircraft can be seen at an airport. — AFP/File Virgin Atlantic has announced that it would be suspending its services “between London Heathrow and Lahore and Islamabad”. The UK-based aviation company’s operations will suspend on May 1…
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Up to 124% gas price hike approved
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[ad_1] In this file photo taken on October 14, 2021, in Dortmund, western Germany, flames of a lit burner of a gas stove are pictured. — AFP ISLAMABAD: In order to implement a major prior condition set by the International…
