Business News
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Rupee falls for 11th day in a row | The Express Tribune
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[ad_1] KARACHI: Pakistan’s currency maintained its downturn for the 11th consecutive working day, as it inched down by Rs0.14 on a day-to-day basis to a new record low at Rs200.14 against the US dollar in the inter-bank market on Friday. It closed at Rs200 against the greenback on Thursday, according to the central bank. The…
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FDI inflows stand at $170.6 million in April | The Express Tribune
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[ad_1] KARACHI: Long-term foreign investors injected a four-month high capital at net $170.6 million during April 2022, in major sectors of Pakistan’s economy including power, banks, electronics and communication despite global as well as domestic political and economic uncertainties. The foreign direct investment (FDI) recorded a turn-around in the month under review as compared to…
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NEPRA fines power firm Rs65m over fatal accidents | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs65 million on the Islamabad Electric Supply Company (Iesco) on the charges of negligence, resulting in fatal incidents during the period July 2019 to June 2021. On the receipt of reports of 39 deaths in different electrocution incidents during the aforementioned…
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Pakistan’s debt mounts to Rs53.5tr | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities jumped to Rs53.5 trillion – an addition of Rs23.7 trillion under the watch of former prime minister Imran Khan, who failed to meet his promise of bringing down by half the debt pile left behind his arch-rival – the PML-N. The increase in public debt alone, which is…
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Pakistan to set up pavilions in Beijing | The Express Tribune
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[ad_1] BEIJING: Pakistan’s national pavilions (offline and online) will be established in Beijing and on famous Chinese social media platform TikTok to promote high-quality products in Chinese markets, said Pakistan’s Ambassador Moinul Haque. He met with Lu Hongjun, President of the China Asian Economic Development Association’s Urban Cooperation Committee (Caeda-UCC) and appreciated Caeda’s proactive role…
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IT exports surge to $2.2 billion | The Express Tribune
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[ad_1] ISLAMABAD: Remittances from Pakistan’s information and communication technology (ICT) exports, including telecommunication, computer and information technology services, surged 29.29% year-on-year to $2.198 billion in the period July 2021 to April 2022. In the same 10-month period of previous year, the ICT exports stood at $1.7 billion, said a statement issued by the Ministry of…
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Turnaround in economic situation soon: Miftah | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail has voiced hope that there will be a turnaround in the country’s economic situation soon as talks are underway with the International Monetary Fund (IMF). In a tweet on Friday, the minister said that the country’s current account deficit during April came down to $623…
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Pakistan-Uzbekistan free trade deal on the cards | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Uzbekistan are likely to sign a free trade agreement (FTA) to increase bilateral trade between the two countries. Uzbekistan’s Ambassador to Pakistan Aybek Arif Usmanov on Friday hinted at the possibility of inking the FTA. “The possibility of signing a free trade agreement between Pakistan and Uzbekistan cannot be ruled out,”…
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Farmers seek govt’s intervention | The Express Tribune
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[ad_1] KARACHI: The government should intervene through subsidies, modern technology and farmers’ education, as the cost of doing business for farmers has increased manifold during the past few years. “If we only talk about fertilisers, a significant jump has been witnessed of up to 150% – especially in DAP and potash,” said Pakistan Businesses Forum…
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Pakistan briefs ASEAN diplomatic missions on CPEC | The Express Tribune
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[ad_1] The Ministry of Foreign Affairs on Friday hosted a briefing on the China-Pakistan Economic Corridor (CPEC) for resident diplomatic missions of Association of Southeast Asian Nations (Asean) member countries. Chaired by the additional secretary (Asia-Pacific), the panel of briefers included senior officials of the ministry, the CPEC Authority and the Board of Investment. In…
