Business News
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Panic over blocked imports in crisis-stricken Pakistan
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[ad_1] A security personnel stands guard beside a ship carrying containers on Gwadar port. AFP/File Pakistan business chiefs are clamouring for the cash-strapped government to allow manufacturing materials stuck at the key port of Karachi into the country, warning that a failure to lift a ban on imports will leave millions jobless. Faced with critically…
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Ban on imports to render millions jobless: business leaders | The Express Tribune
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[ad_1] Business leaders are clamouring for the cash-strapped government to allow manufacturing materials stuck at the key port of Karachi into the country, warning that a failure to lift a ban on imports will leave millions jobless. Faced with critically low US-dollar reserves, the government has banned all but essential food and medicine imports until…
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Remittances hit 32-month low at $1.89b in January | The Express Tribune
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[ad_1] KARACHI: Workers’ remittances to Pakistan fell to a 32-month low in January 2023, slipping below the $2 billion mark, according to the State Bank of Pakistan (SBP). The remittances recorded at $1.89 billion, a decrease of 13% compared to the same month in the previous year and a drop of 10% compared to December…
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PM for speedy completion of solar energy projects | The Express Tribune
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[ad_1] LAHORE: Prime Minister Shehbaz Sharif on Sunday directed the speedy completion of solar and wind energy projects and said it was a priority of the government to encourage the production of electricity through renewable energy sources. While chairing a meeting on renewable energy here, the premier underscored that renewable sources would produce low-cost and…
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What has Pakistan agreed with IMF? | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has agreed with the International Monetary Fund on the conditions to release $1.1 billion in critical funding, Finance Minister Ishaq Dar said on Friday, adding that the payout was delayed due to “routine procedures”. Below are the key points Pakistani authorities say they have already reached agreement on with the IMF: The…
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Haining extends energy partnerships | The Express Tribune
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[ad_1] BEIJING: The Deputy Director of Economic Development Office of Zhouwangmiao, Haining City of China, Jin Hongxian, on Saturday, proposed collaboration and technical exchange with Pakistan in the energy sector. Addressing a business matchmaking meeting between Haining and Pakistani technology companies, Hongxian said, “Haining city has a number of advanced photovoltaic energy storages and other…
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Moody’s paints bleak picture of Pakistan’s external position
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[ad_1] A sign for Moody’s rating agency stands in front of the company headquarters in New York, September 18, 2012. – AFP/ File The International Monetary Fund (IMF) is likely to demand Pakistan to take revenue-raising measures among prior actions before it releases the next tranche of assistance to the crisis-hit country, Moody’s Investors Service…
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Rs170b mini-budget on the cards | The Express Tribune
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[ad_1] Pakistan has agreed to impose new taxes to recover an additional Rs170 billion revenue, including through 1% increase in the General Sales Tax (GST) rate, in just four months. This would in addition to withdrawal of unbudgeted power subsidies for farmers as well as exporters to meet the conditions of the International Monetary Fund…
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Nepra admits KE’s generation tariff plea for its six power plants
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[ad_1] Nepra admits KE’s generation tariff for its six power plants. The KE website. KARACHI: K-Electric has submitted a tariff petition to the National Electric Power Regulatory Authority (NEPRA) for its power generation plants for the period starting July 1, 2023. The power regulatory authority has admitted the petitoin for K-Electric’s generation segment, which includes…
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12% YoY decrease in earnings on cotton | The Express Tribune
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[ad_1] KARACHI: The agriculture sector is experiencing a shift in crop yields and income following the recent floods and support price adjustments. Wheat, sugarcane, and basmati rice are expected to see a rise in income per acre, but cotton crops have suffered damage. According to Engro Fertilisers Limited’s (EFERT) corporate briefing session for the fourth…
