Business News
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Pakistan’s economy grinding to a halt as dollars dry up
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[ad_1] This picture taken on January 11, 2023, shows a general view of the Karachi sea port. — AFP Thousands of containers packed with essential food items, raw materials and medical equipment have been held up at Pakistan’s Karachi port as the country grapples with a desperate foreign exchange crisis. A shortage of crucial dollars…
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Govt to keep fuel prices unchanged | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar while addressing the media in Lahore on important decisions taken by the ruling coalition said that petroleum prices would be “maintained as they are” and no changes would be implemented for the remaining 15 days of January. “Petroleum prices will remain as they are at Rs214.80 per litre. Diesel is…
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Boom to bust: Pakistan’s startup story | The Express Tribune
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[ad_1] PUBLISHED January 15, 2023 KARACHI: Starting a business is much more complicated than people think it is. Many young, fresh graduates or mid-career level professionals who opt for creating their small-scale companies and are called entrepreneurs. They see a demand or a problem to be solved in the market and develop their business model…
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PM says tapping friendly nations for more loans ’embarrassed’ him
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[ad_1] Prime Minister Shehbaz Sharif speaks during his address at the passing out ceremony of 45th Specialised Training Program of PAS in Lahore.. — Twitter/@GovtofPakistan LAHORE: Prime Minister Shehbaz Sharif Saturday spoke about feeling embarrassed while seeking funds and loans from friendly countries during his recent visits across various nations since the flooding in the…
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Food inflation reaches 31.75% YoY | The Express Tribune
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[ad_1] ISLAMABAD: The trend of the rising prices carried on in the week that ended on January 12 with the inflation rate hitting 0.44% in comparison with the previous seven days and 31.75% on a year-on-year basis. According to the figures released by the Pakistan Bureau of Statistics (PBS) on Friday, the prices of 23…
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Remittances drop to 31-month low at $2.04b | The Express Tribune
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[ad_1] KARACHI: The inflows of workers’ remittances sent home by overseas Pakistanis have continued to slow down, plunging to a 31-month low at $2 billion in December 2022. The straight drop in the inflows for the fourth consecutive month has further hit the country’s forex reserves, increasing its reliance on expensive foreign loans to finance…
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Nepra jacks up KE tariff by Rs4.49 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday allowed an increase of Rs4.49 per unit in the power rates for K-Electric (KE) customers for a period of four months – from January 2023 to April 2023 – on account of a petition filed by the federal government regarding a uniform tariff for…
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Remittances down 19% in Dec as illegal channels weigh
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[ad_1] A currency dealer counts dollars at a currency exchange shop in Karachi, on August 1, 2018. — AFP/Files KARACHI: Remittances sent home by overseas Pakistani workers fell 19% to $2 billion in December 2022 compared to $2.52 billion in the same month of 2021, latest numbers showed Friday, which analysts attributed to a rise…
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Saudi fund to finance $1b Pak oil derivatives | The Express Tribune
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[ad_1] ISLAMABAD: The Saudi Fund for Development (SFD) will finance Pakistan’s oil derivatives worth $1 billion, the Economic Affairs Division said on Thursday. The fund’s chief executive, Sultan Abdulrahman Al-Marshad, signed an agreement pledging the financing with Economic Affairs Secretary Dr Kazem Niaz, the division said on Twitter. SFD CEO Al-Marshed said the agreement emphasised…
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US inflation hits slowest pace in over a year amid hopes of less hawkish Fed
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[ad_1] People shop at a store in Rosemead, California, US, June 28, 2022. — AFP WASHINGTON: Consumer inflation in the United States slipped in December to the lowest level in more than a year, government data showed on Thursday, signalling the worst of red-hot price increases may be over. As American households struggled with decades-high…
