Business News
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Market watch: Stocks nosedive ahead of MPC meeting | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange nosedived on the first trading day of the week as sceptical investors preferred to stay on the sidelines before the announcement of the monetary policy late in the evening. The benchmark KSE-100 index plunged by around 660 points as domestic political uncertainty amid deteriorating economic situation continued to take…
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SBP increases interest rate to 13.75% | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has increased the benchmark interest rate by 150 basis points to 13.75% for the next six weeks. At a scheduled meeting on Monday, the bank revised the rate upwards ahead of the likely revival of the International Monetary Fund’s (IMF) $6 billion loan programme, which has been on hold for…
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Less fertiliser use a threat to food security | The Express Tribune
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[ad_1] ISLAMABAD: A run up in gas prices and Russia’s invasion of Ukraine have not only pushed fertiliser prices to new records but have also led to a slump in its demand to the lowest in decades due to unaffordability. Since January 2021, fertiliser prices have more than doubled as per the Fertiliser Price Index…
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Indo-Pacific Economic Framework not a blessing to Asia | The Express Tribune
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[ad_1] BEIJING: Pacific Economic Framework” (IPEF) will bring prosperity to the region. But its sole purpose is to advance the “IndoPacific Strategy” and key interests of the US instead of driving post-pandemic recovery, development and prosperity of the region. Asian countries need to brace themselves for the negative impact brought on by the framework, which…
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The subsidies conundrum | The Express Tribune
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[ad_1] ISLAMABAD: In the subsidies that we have budgeted for 2021-22, we can run the entire civilian federal government in Pakistan and can still save! Total expenditure estimated for running the civilian federal government in 2021-22 was Rs479 billion, whereas the government allocated Rs682 billion for subsidies, of which 87% belongs to the power sector.…
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Opportunity on western border | The Express Tribune
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[ad_1] KARACHI: The bitterness between Pakistan and Afghanistan can be traced back to the latter opposing the resolution for Pakistan’s UN membership in September 1947. They asserted that the region now called Khyber Pakhtunkhwa (K-P) should have been given the choice of independence too in the referendum of July 1947 in addition to joining India…
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Bitter harvest for Indian farmers after wheat export ban
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[ad_1] Indian farmers are fuming over a wheat export ban that has denied them a chance at a windfall. Photo: AFP KHANNA: When New Delhi banned wheat exports as prices soared over Russia’s invasion of Ukraine it provoked consternation abroad and drove the cereal even higher. Now Indian farmers and traders are fuming they have…
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Fate of IMF talks hinges on PM’s ‘big nod’ | The Express Tribune
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[ad_1] ISLAMABAD: The talks between the government and the International Monetary Fund (IMF) for the revival of the bailout package are moving at a snail’s pace as the economic managers are still waiting for the ‘big nod’ from Prime Minister Shehbaz Sharif which is crucial to bridging differences with the fund. Due to indecisiveness of…
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Auto parts makers demand halt to imports | The Express Tribune
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[ad_1] LAHORE: Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Abdur Razaq Gauhar, while welcoming the government’s decision to impose ban on import of luxury cars and consumer goods, has called for halting import of auto parts too. “Banning the import of those products which are being made locally can aid in averting…
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Planning Commission deputy chief quits | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has accepted the resignation of Planning Commission Deputy Chairman Jahanzeb Khan, further strengthening the position of his minister Ahsan Iqbal. Khan had been reappointed as the Planning Commission deputy chairman by the previous government after reaching superannuation in August 2020. The portfolio of deputy chairman will now be kept…
