Business News
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Car sales drop 18% in April | The Express Tribune
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[ad_1] KARACHI: Pakistan has witnessed a second major drop of 18% in car sales to 22,370 units in April 2022, as the much awaited impact of restrictions imposed on car financing in September and increase in rate of taxes on imports in January to limit the sales came into play. The government discouraged customers from…
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SBP reserves dip $190m to $10.3b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 1.8% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 6, the foreign currency reserves held by the SBP were recorded at $10,308.7 million, down $190 million compared with $10,499 million on April…
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Rs118b sought to bear cost of oil price freeze | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division is seeking allocation of Rs118 billion to bear the cost of freezing petroleum prices, which have surged in the global market due to the Russia-Ukraine war. The government has projected subsidy claims of Rs336 billion from oil companies for March-June 2022 as petrol and diesel prices have been left unchanged…
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9.5% inflation forecast ‘unrealistic’ | The Express Tribune
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[ad_1] ISLAMABAD: The government has expressed its reservations about the initial projection of single-digit inflation in the next fiscal year, as it slowly starts taking stock of the situation amid soaring consumer prices in the country. The economic advisory wing of the finance ministry has come up with initial projection of 9.5% inflation in next…
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Grain-forage rice to improve land utilisation | The Express Tribune
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[ad_1] BEIJING: Since Pakistan started importing Chinese high-yield rice seeds, the growers that used to produce 40 to 50 mounds now produce 100 mounds, said Karachi Chamber of Commerce and Industry (KCCI) Vice President Shamsul Islam Khan. “Rice production in Pakistan has improved a lot, and we are exporting it,” he said. In the first…
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Establishment of solar parks proposed | The Express Tribune
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[ad_1] ISLAMABAD: There is a need to exploit the renewable energy resources in order to meet the growing needs of the country. In clean energy, solar is one of the most economical, pollution-free and environment-friendly sources of energy that can help mitigate power crisis in Pakistan. These were the remarks made by Pakistan Hi-Tech Hybrid…
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Vehicle export begins under new auto policy | The Express Tribune
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[ad_1] KARACHI: An automaker based in Pakistan has begun vehicle export under the new Auto Industry Development and Export Policy (AIDEP 2021-26). It has become the first auto manufacturer in Pakistan that has started exporting under the new policy. As part of the policy, all original equipment manufacturers (OEMs) are required to initiate vehicle exports…
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Gwadar needs urgent power supply | The Express Tribune
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[ad_1] GWADAR: Gwadar is seeking urgent arrangements for power supply to ensure robust economic growth, business ecosystem and logistic activities at Gwadar Port as well as in the Gwadar region. The demand for early supply of electricity was made at the Pakistan Energy Development Conference 2022 held at the China Business Centre at Gwadar Port.…
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Market watch: KSE-100 rebounds over ADB $2.5b loan hints | The Express Tribune
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[ad_1] KARACHI: The stock market staged a rebound on Thursday over indications that the ADB would provide $2.5 billion in loan coupled with optimism about the resumption of International Monetary Fund (IMF) loan programme, which rejuvenated investor interest. The benchmark KSE-100 index made a significant recovery as investors were encouraged by the upbeat developments despite…
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Market watch: Stocks rebound over ADB’s $2.5b loan hint | The Express Tribune
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[ad_1] KARACHI: The stock market staged a rebound on Thursday over indications that the ADB would provide $2.5 billion in loan coupled with optimism about the resumption of International Monetary Fund (IMF) loan programme, which rejuvenated investor interest. The benchmark KSE-100 index made a significant recovery as investors were encouraged by the upbeat developments despite…
