Business News
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Govt forms committee to settle gas circular debt
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[ad_1] Man loads a LPG cylinder on a loading vehicle. — AFP/File ISLAMABAD: The Finance Ministry Wednesday formed a committee to settle gas circular debt as it accumulated up to Rs1,500 billion. The Minister of Finance and Revenue Ishaq Dar notified a committee to devise a circular debt settlement plan for gas sector companies, appointing…
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PSX plummets to lowest level since November 2020
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[ad_1] Digital monitor showing the share prices at the Pakistan Stock Exchange (PSX) in Karachi. — INP/File The Pakistan Stock Exchange (PSX) on Wednesday plunged to a 26-month low level after the benchmark KSE-100 index shed nearly 500 points as investors adopted a dump-and-run approach due to rising political tension in the country. The benchmark…
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Pakistan identifies $8.2b flood funding gap | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has identified a funding gap of $8.2 billion against the $16.3 billion total flood rehabilitation and reconstruction requirements — setting the goal for the international donors conference next month. The $8.2 billion gap appeared too large to be filled in the Geneva conference amid low response to the UN’s $816 million emergency…
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‘Counterproductive’: Traders, restaurant owners slam govt’s energy plan
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[ad_1] Workers busy preparing bread outside a local restaurant at sector G-7 during load shedding in Islamabad on July 14, 2022. — Online/File KARACHI/ISLAMABAD: Terming the federal government’s fresh energy conservation plan “counterproductive rather than being productive”, traders and restaurant owners Tuesday rejected the policy. President All Pakistan Anjuman-e-Tajran President Ajmal Baloch condemned the restrictions —…
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WTO chief rebukes stalled fishing negotiations | The Express Tribune
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[ad_1] GENEVA: The head of the World Trade Organisation (WTO) chided countries for failing to make headway on negotiations covering fishing and agriculture because of infighting over who should lead them. The WTO broke a multi-year deal-making drought in June by clinching a series of agreements at a major trade conference in Geneva in June,…
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Rupee depreciates beyond 225 to a dollar | The Express Tribune
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[ad_1] KARACHI: With a widening gap between demand and supply of the US dollar, the value of Pakistani currency on Tuesday depreciated beyond 225 against the greenback in the inter-bank market after a gap of two and a half month. The rupee slid by 0.08% (or Rs0.20) to Rs225.12 against the US dollar compared to…
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$1.7b flood response loan approved | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank has approved funding of $1.7 billion for the rehabilitation of flood-damaged homes and infrastructure in Sindh, covering slightly over one-fifth of the post-flood cost in the province. At what the authorities called a “Pakistan Day” at the World Bank Board, the Washington-based lender approved five different projects for the rehabilitation…
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‘US market bursting with potential for Pakistani products’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s Consul General-designate to Los Angeles Asim Ali Khan, on Tuesday urged Pakistani exporters to accelerate efforts in capitalising on opportunities available in the United States’ (US) market. “The US market offers many openings for exports and Pakistani entrepreneurs should accelerate efforts to capitalise on these opportunities to increase exports and earn more…
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‘Blue economy has potential of over $100b’ | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Tuesday said that Pakistan’s blue economy has potential of over $100 billion and that the government is launching new projects to develop coastal areas to tap into all possibilities. Addressing the opening session of the international symposium on Geo Economic and Maritime dimensions…
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No-trust motion against CM Elahi: LHC allows suspended PML-N MPAs to cast votes
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[ad_1] An undated image of the Lahore High Court building. — APP/File Ahead of the crucial no-confidence motion — filed by the joint opposition against Chief Minister Chaudhry Parvez Elahi — the Lahore High Court (LHC) Tuesday allowed the suspended lawmakers of the Pakistan Muslim League-Nawaz (PML-N) to attend the session of the Punjab Assembly. On…
