Business News
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‘IMF should issue new reserves to help countries tackle crises’ | The Express Tribune
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[ad_1] WASHINGTON: The International Monetary Fund should issue $650 billion in new emergency reserves to help its member countries grapple with overlapping health, food, energy and inflation crises, 140 civil society groups said in a letter to the IMF’s board…
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Rupee jumps by over Rs2 in interbank trade
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[ad_1] A currency dealer is calculating $100 notes. — AFP/File KARACHI: The Pakistani rupee continued its upward trajectory, rising by Rs2.19 against the dollar in the interbank market. The local unit was changing hands at 221.75 after gaining 2.19 in…
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Pakistan expected to get up to $2.5b in flood-relief support from ADB
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[ad_1] An image of the headquarters of the Asian Development Bank (ADB). — ADB website/File ISLAMABAD: The Asian Development Bank (ADB) Wednesday announced $2.3 to 2.5 billion in relief support for Pakistan after deadly floods wreaked havoc on the country,…
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Debt restructuring not on the cards for now: FM Bilawal
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[ad_1] Pakistan’s Foreign Minister Bilawal Bhutto-Zardari speaks following his meeting with US Secretary of State Antony Blinken at the State Department in Washington, DC, September 26, 2022. — AFP/File WASHINGTON: Foreign Minister Bilawal Bhutto-Zardari said that he is not talking…
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ADB to provide up to $2.5b for Pakistan flood relief | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank will provide flood relief support to Pakistan to the tune of $2.3 to $2.5 billion including $1.5 billion for the BRACE programme which will be placed before the ADB board for approval this month….
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Dollar’s free fall continues against PKR for ninth consecutive session
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[ad_1] Image Pakistan rupee and dollar — Canva/file KARACHI: The Pakistani rupee continued to rally against the US dollar for the ninth consecutive day in the interbank market on Wednesday. The local currency gained Rs1.7 or 0.76%, managing to settle…
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Pakistan did not breach IMF’s condition by slashing petrol price: Aisha Ghaus Pasha
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[ad_1] Minister of State for Finance and Revenue Aisha Ghaus Pasha. — Twitter/@AishaGPasha ISLAMABAD: Pakistan has not breached any of the conditions laid forth by the International Monetary Fund (IMF) after the government reduced the price of petroleum products, assured…
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Sindh setting up two waste-to-energy plants | The Express Tribune
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[ad_1] KARACHI: The Sindh government has started work on setting up two waste-to-energy plants at an estimated cost of $250 million each and is targeting to produce electricity by the end of December 2023. The provincial government is facilitating two…
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Oil demand sinks by 22% to 1.5m tons | The Express Tribune
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[ad_1] KARACHI: The demand for petroleum products declined by a notable 22% to 1.52 million tons in September 2022, compared to the same month last year, as record-high prices and the cataclysmic floods restricted economic activities from resuming. Due to…
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Rupee’s upwards momentum contuses unabated for eighth straight session
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[ad_1] A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, May 19, 2022. — AFP/File KARACHI: With a further gain of Rs 1.65, the Pakistan rupee continued its upward momentum against the dollar in the interbank…
