Business News
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Petrol price in Pakistan: Khaqan Abbasi warns of difficult decisions
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[ad_1] Former prime minister Shahid Khaqan Abbasi. — Radio Pakistan KARACHI: Senior PML-N leader Shahid Khaqan Abbasi Wednesday warned of an increase in petrol price, saying difficult decisions will have to be made to address the worsening situation. Speaking to…
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New finance minister faces uphill tasks, warns WB | The Express Tribune
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[ad_1] ISLAMABAD: The day Pakistan appointed its new finance minister to cope with the challenges – containing rising inflation and navigating through one of the worst external sector crisis, the World Bank on Tuesday reminded the country that 34% of…
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Beijing vows support for SEZs | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is looking forward to further enhancing bilateral cooperation with China in various fields, said Federal Minister for Finance Miftah Ismail. During a meeting with Chinese embassy Charge d’affaires Pangchunxue at the Finance Division, Ismail highlighted the role…
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Rupee continues to sink | The Express Tribune
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[ad_1] KARACHI: The rupee extended its fall and dropped Rs1.9 against the US dollar in the inter-bank market on Tuesday to close at Rs184.44 primarily due to uncertainty about talks with the International Monetary Fund (IMF). According to the State…
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Another power tariff hike on the cards | The Express Tribune
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[ad_1] ISLAMABAD: Following a recent massive increase of Rs4.85 a unit in electricity tariff, the Central Power Purchasing Agency-Guarantee Limited (CPPA-G) has again sought a huge tariff hike on account of fuel cost adjustment (FCA) for March 2022. In a…
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FDI flow turns negative in March | The Express Tribune
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[ad_1] KARACHI: The multinational companies (MNCs) in Pakistan pulled out some of the investment in March mainly from the telecommunication sector as telecom companies, with their headquarters in China and Norway, made some payments to their parent companies from Islamabad….
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Oil slumps 5% after IMF slashes outlook | The Express Tribune
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[ad_1] HOUSTON: Oil prices tumbled 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation. Prices fell despite lower output from OPEC+, which produced 1.45…
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IMF cuts global growth forecast | The Express Tribune
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[ad_1] WASHINGTON: The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries….
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Engro Fertilisers’ profit contracts 4% to Rs5.5b | The Express Tribune
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[ad_1] KARACHI: Engro Fertilisers reported a 4% decline in profit after tax to Rs5.5 billion for the first quarter (January-March) of calendar year 2022 in the wake of a significant increase in finance cost. According to a notice sent to…
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ECC approves Rs68.7 billion grant | The Express Tribune
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[ad_1] ISLAMABAD: In its maiden meeting, the Economic Coordination Committee (ECC) on Tuesday approved Rs68.7 billion supplementary grant to pay for the cost of providing the petroleum products at subsidised rates – a sum that the country cannot afford to…
