Business News
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Monetary policy: SBP likely to raise interest rate today
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[ad_1] A representational image of the State Bank of Pakistan (SBP) building. — AFP/File The State Bank of Pakistan (SBP) is scheduled to meet today (January 23) to assess developments on the economic front and announce its monetary policy for…
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How long will it take to restore electricity supply?
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[ad_1] Federal Minister for Power Khurram Dastagir Khan addressing the inaugural ceremony of three-day IEEEP Fair at Expo Centre in Karachi on August 30, 2022. — APP Complete restoration of the electricity supply in Pakistan after the countrywide power breakdown…
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SBP directs banks to facilitate the release of imports | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) on Monday announced a one-time facility for import-driven businesses in crisis, as it directed commercial banks to process import documents to release the majority of goods stuck up at Karachi ports. The…
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SBP set to raise policy rate to rein in inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is highly expected to jack up its key policy rate by 100 basis points (bps) to 17% at the monetary policy review on Monday (Jan 23) ahead of the revival of International Monetary Fund (IMF)…
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Parts makers oppose used tractor imports | The Express Tribune
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[ad_1] LAHORE: Auto parts manufacturers have rejected the Economic Coordination Committee’s decision to import second-hand tractors, terming it ill-advised and dangerous, as it will deal a blow to the engineering industry of Pakistan. In a statement on Saturday, Pakistan Association…
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OGDCL finds 3.29 bcf of gas reserves in Guddu | The Express Tribune
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[ad_1] ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has discovered a hydrocarbon-rich field in Sindh having estimated reserves of 3.292 billion cubic feet (bcf) of gas. Commercial production from the new discovery is poised to start in June this…
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Addressing circular debt is a priority: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar has said that it is the government’s priority to address the issues being faced in the energy sector – including circular debt – to bring financial sustainability to the sector and economic growth to…
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Rupee continues to lose strength | The Express Tribune
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[ad_1] KARACHI: The rupee continued to depreciate slightly ahead of the revival of the International Monetary Fund’s (IMF) loan programme. It dropped by 0.23%, or Rs0.52, to a three- and-half-month new low at Rs229.67 against the US dollar in the…
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Govt slashes investment limits for NPCs | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Friday drastically reduced the minimum investment limits but significantly increased profit rates to raise foreign debt from overseas Pakistanis through the Naya Pakistan Certificates (NPCs), after the government’s borrowing options shrank and people started pulling out…
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‘No fuel crisis in Pakistan’: Govt rubbishes rumours of oil shortage
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[ad_1] Consumers line up outside a PSO station in this undated photograph. — AFP/File Responding to the rising panic in the oil industry and amongst consumers, the federal government Friday ruled out any possibility of a fuel crisis in Pakistan,…
