Business News
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State Bank of Pakistan slashes policy rate by 200 BPS amid falling inflation | The Express Tribune
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[ad_1] The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to…
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Big Drop Expected in Petrol Prices | The Express Tribune
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[ad_1] A reduction in the prices of petroleum products is expected by the end of this week, owing to the drop in global oil prices. If confirmed, this would mark the third consecutive bi-weekly drop in prices of petroleum products. Petrol is expected to become cheaper by Rs12 per litre while the price of diesel is…
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Turkmenistan to access Gwadar Port under CPEC | The Express Tribune
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[ad_1] ISLAMABAD: Turkmenistan is set to become the first Central Asian country to access the Gwadar Port under China Pakistan Economic Corridor (CPEC) as both countries are about to ink an agreement in this regard. Pakistan and Turkmenistan are already venturing various joint projects, including TAPI pipeline, railway track and fibre connectivity to connect two…
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Ministers object to creation of more authorities | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Muhammad Aurangzeb and Planning Minister Ahsan Iqbal raised objections to the formation of a National Digital Commission and the Pakistan Digital Authority, instead called for using the current available infrastructure and taking advantage of innovation in the scientific field. The ministers along with Minister of State for Information Technology (IT) Shaza…
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NEPRA fines KE Rs1m for safety lapse | The Express Tribune
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[ad_1] ISLAMABAD: The country’s power regulator has slapped a fine of Rs10 million on K-Electric (KE)the power utility that supplies electricity to Karachifor “lack of safety measures/culture” which resulted in the death of a person within its service territory during FY 2022-23. The National Electric Power Regulatory Authority (NEPRA) directed KE to pay the fine…
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Afghanistan to begin work on TAPI gas pipeline | The Express Tribune
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[ad_1] KABUL: Afghanistan said on Wednesday work would begin on a $10 billion gas pipeline traversing South Asia as officials joined dignitaries in neighbouring Turkmenistan to celebrate its completion on that side of the border. Progress on the TAPI pipeline – running through Turkmenistan, Afghanistan, Pakistan, and India – has been repeatedly delayed because of…
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SCO trade ministers’ meet today | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is hosting the 23rd Meeting of Ministers of the Shanghai Cooperation Organization (SCO) Member States responsible for Foreign Economic and Trade Activities on Thursady, said an official handout. “This important event, where Ministers of SCO countries dealing with External Trade and Commerce would be representing their countries, will be chaired by Pakistan’s…
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Power struggles in climate ministry | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Climate Change has become the centre of internal conflict over efforts to reinstate a senior official, Mujtaba Hussain, who was previously removed over corruption allegations. The power struggle within the ministry is reportedly driven by top political figures pushing for his return, despite ongoing investigations. Sources told The Express Tribune…
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IMF pressure halts new EPZ plan | The Express Tribune
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[ad_1] ISLAMABAD: The government on Wednesday withdrew a proposal to establish a new Export Processing Zone (EPZ) in Balochistan, complying with a condition set by the International Monetary Fund (IMF), highlighting the global lender’s growing influence over the country’s economic decision-making. The Ministry of Industry and Production had initially pushed for the creation of the…
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Deregulate sugar, wheat markets: FPCCI | The Express Tribune
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[ad_1] LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Agriculture has recommended the government deregulate sugar and wheat markets, advocating for a free trade approach. This would allow price signals to reach stakeholders, encouraging investment, increasing competitiveness, and reducing distortions in local supply. FPCCI Chairman of the Agriculture Committee,…
