Business News
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IMF says policy commitments made by Pakistan continue to apply | The Express Tribune
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[ad_1] Listen to article The resident representative of the International Monetary Fund (IMF) said on Monday that policy commitments made by Pakistani authorities to resume the support programme continue to apply. “Policy commitments made by the Pakistani authorities as part of the Seventh and Eighth review under their IMF-support programme continue to apply,” IMF representative in Islamabad…
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Probability of currency crisis exceeds 50%, says Bloomberg report | The Express Tribune
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[ad_1] The odds of Pakistan facing a currency crisis surpassed 50% after devastating floods lashed the country, killing hundreds and displacing millions, a Bloomberg Economics risk model revealed on Tuesday. According to economist Ankur Shukla, the possibility of a currency crisis involving a large depreciation of the nominal exchange rate and extensive depletion of foreign-exchange…
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Pakistan’s medical equipment export grown by over 40%: Healthcare Devices Association of Pakistan
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[ad_1] Internationally, 56% of 500,000 medical equipment items available in the world market have Iranian versions. — AFP/File TEHRAN: Iran and Pakistan discussed ways to enhance cooperation on medical equipment during a webinar held on October 2, the Ministry of Foreign Affairs said in a statement on Monday. The webinar was attended by the head…
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Rupee continues upward momentum against dollar
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP/File KARACHI: The Pakistani rupee on Monday managed to post more gains against the US dollar as the local unit jumped by Rs1.70 against the greenback during early trade in the interbank market. The rupee was changing hands at Rs226.75 after gaining 1.70…
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Oil jumps more than $3 | The Express Tribune
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[ad_1] LONDON: Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the Covid-19 pandemic. Brent crude futures rebounded $3.37, or 4%, to $88.51 a barrel by 1100…
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Telecom sector: navigating the dichotomy | The Express Tribune
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[ad_1] KARACHI: For almost two years, I’ve been advocating urgent policy interventions to help bridge the digital divide and enable the telecom industry in bringing connectivity at par with developed countries which, in turn, may also improve Pakistan’s low rankings in the global ICT indices. Even though all key stakeholders admit the current situation calls…
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How to go for reforms and not lose election? | The Express Tribune
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[ad_1] Economic reforms are usually perceived as unpopular and under democracies, these reforms are associated with a heavy political cost. Former finance minister Miftah Ismail and Prime Minister Shehbaz Sharif have repeatedly claimed that they are paying the political price of taking the right economic decisions. Exchange rate mechanism is a case in point. To…
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Sri Lanka cuts tax on female hygiene products
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[ad_1] Even before the economic downturn, many schoolgirls and women in Sri Lanka, like in other poor countries, would stay home when menstruating because they couldn’t afford sanitary products — AFP/File COLOMBO: Sri Lanka’s government on Sunday cut taxes on female sanitary products in a bid to help women and girls unable to afford them…
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Surcharges in power bills have no link to consumption: NEPRA | The Express Tribune
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[ad_1] The National Electric Power Regulatory Authority (Nepra), in a report, has stated that there are certain surcharges in electricity bills which have nothing to do with a consumer’s power consumption. The top authority, in its State of the Industry Report 2022, stressed the need to stop charging consumers with irrelevant taxes and surcharges, while…
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Dar seeks to revive Q Block-SBP liaison | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar on Saturday termed linkage between fiscal and monetary policies “imperative” for economic growth – a coordination bridge that the International Monetary Fund (IMF) demolished early this year to get an absolute autonomy for the central bank. Dar “stressed that the fiscal and monetary policy coordination is imperative for sustainable…
