Business News
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Pakistan not ‘pursuing or receiving’ discounted energy from Russia: Bilawal
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[ad_1] Foreign Minister Bilawal Bhutto Zardari speaking during an interview on December 15, 2022. — YouTube screengrab/ PBS NewsHour Foreign Minister Bilawal Bhutto Zardari said that Pakistan is not “pursuing or receiving” any discounted energy from Russia, just a few days after his cabinet colleague had claimed that Pakistan is seeking oil at discounted rates from…
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Govt formulates strategy to conserve energy | The Express Tribune
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[ad_1] ISLAMABAD: Information Minister Marriyum Aurangzeb on Thursday said the federal government formulated a National Energy Conservation Plan, envisaging the use of solar power for private and government buildings besides a massive crackdown on electricity thieves. Marriyum said in a series of tweets that the decision was taken in a meeting on economic recovery and…
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Alarming: Forex reserves drop to lowest level since Jan 2019
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[ad_1] An undated image of $100 note. — AFP/File Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell to $6.7 billion, official data released on Thursday showed, as the cash-strapped nation struggles to meet The forex reserves held by the central bank were recorded at $6,700 million as of December 9, down…
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ECC gives go-ahead for sugar export amid ‘fears of price hike’
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[ad_1] Federal Minister for Finance and Revenue Ishaq Dar presided over a meeting of the Economic Coordination Committee (ECC) of the cabinet on December 15, 2022. — PID The Economic Coordination Committee (ECC) Thursday approved a summary presented by the Ministry of National Food Security and Research regarding the export of sugar fulfilling the demand…
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Petrol price slashed by Rs10 per litre for next fortnight
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[ad_1] Vehicles lined up at the Pakistan State Oil petrol pump in this undated photo. — Online/File Finance Minister Ishaq Dar on Thursday announced slashing prices of petroleum products by up to Rs10 per litre for the next fortnight. Petrol and diesel will now be available at Rs214.80 and Rs227.82 per litre, respectively, after a…
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Pakistan inks final deal for Reko Diq project | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Thursday inked the final deal with representatives of Barrick Gold and Antofagasta PLC in London for the revival of the Reko Diq project and the settlement of an $11 billion dispute. The development came after the government received a ‘favourable opinion’ from the Supreme Court on the settlement agreement and the…
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New peak: Gold price continues to climb for 8th consecutive day
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[ad_1] An undated file image of gold bars. — AFP/File Gold prices continued to rise in Pakistan for the eighth consecutive day as investors took refuge in the safe-haven asset to avoid the impact of high inflation. Gold prices surged by Rs500 per tola and Rs429 per 10 grams to settle a historic high of…
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Gold import ban linked to lack of documentation | The Express Tribune
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[ad_1] ISLAMABAD: The commerce ministry officials on Wednesday told a Senate panel that if the entire gold business in the country was documented, the ban on its import could be lifted. The Senate Standing Committee on Commerce, which was held under the chairmanship of PTI Senator Zeeshan Khanzada, was further told that the main obstacle…
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K-Electric tariff reduced by Rs2.45 per unit | The Express Tribune
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[ad_1] KARACHI: The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed K-Electric (KE) to cut its power tariff by Rs2.45/unit on account of monthly Fuel Charges Adjustment (FCA). In a public hearing, held to for KE’s petition on monthly FCA for October, the regulator had initially calculated a reduction of Rs2.15/unit. After detailed analysis of…
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Power tariff for Karachiites cut by Rs2.45 per unit
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[ad_1] A file photo of electrical grids. —AFP ISLAMABAD: As a relief for the inflation-weary people, the power tariff for K-Electric (KE) consumers was cut down Wednesday by the National Electric Power Regulatory Authority (NEPRA). The regularity authority approved a reduction of Rs2.45 per unit for KE consumers on account of fuel cost adjustment (FCA) for…
