Business News
-
No need for another IMF package with 5-6% growth: Tarin | The Express Tribune
.
[ad_1] Finance Minister Shaukat Tarin has said that after completing the current International Monetary Fund (IMF) programme, Pakistan is hoping to end reliance on the multilateral lender if the country achieved sustainable economic growth. “I think this programme should be enough. If we start generating 5%-6% balanced [economic] growth, then I don’t think we need…
-
IMF expresses concerns over rising inflation in Pakistan
.
[ad_1] The economy is set to continue recovering in FY 2022, with real GDP growth projected at 4%. The International Monetary Fund (IMF) has expressed concerns over rising inflation and widening current account deficit of Pakistan. In a statement, the IMF said that Pakistan entered the COVID-19 pandemic with strengthened buffers, following the approved EFF…
-
ADB proposes measures to maximise CPEC benefits | The Express Tribune
.
[ad_1] MANILA: The Asian Development Bank (ADB) has proposed certain policy actions to fully explore the potential benefits of China-Pakistan Economic Corridor (CPEC) and raise income from exports and enhance fiscal capacity of the government. A case study on Economic Corridor Development (ECD) in Pakistan released by the ADB on Wednesday proposed to utilise the…
-
NEPRA likely to slash KE power tariff by Rs2.59 | The Express Tribune
.
[ad_1] ISLAMABAD: National Electric Power Regulatory Authority (Nepra) is likely to cut power tariff by Rs2.59 per unit for K-Electric consumers on account of fuel adjustment for the month of December 2021. The consumers in Karachi may get relief of Rs3 billion as National Electric Power Regulatory Authority(NEPRA) has hinted to slash a power tariff…
-
IMF approves $1 billion loan tranche for Pakistan
.
[ad_1] A picture of the IMF headquarters in Washington DC. — AFP/File The International Monetary Fund’s (IMF) Executive Board on Wednesday approved Pakistan’s request for an $1 billion loan tranche. The country’s finance minister, Shaukat Tarin, took to his official Twitter account and confirmed the news. “I am pleased to announce that IMF Board has…
-
Alphabet nearing $2tr valuation | The Express Tribune
.
[ad_1] SAN FRANCISCO: Google-parent Alphabet Inc moved closer to joining peers Apple and Microsoft in the elite $2 trillion market valuation club as the search giant’s shares surged 8% on Wednesday after another blowout quarter. The gains, if they hold, could be the biggest single-day surge for the stock in nearly two years, easing some…
-
Mian Mansha gives recipe for rapid economic growth | The Express Tribune
.
[ad_1] LAHORE: Noted industrialist and Nishat Group Chairman Mian Muhammad Mansha has given a recipe for rapid economic growth and termed progressive market-oriented policies, based on modern methods, the key to success. “Pakistan can achieve rapid economic growth by reducing trade barriers and minimising state’s influence on the economy through privatisation and austerity,” Mansha said…
-
Refineries demand more financing | The Express Tribune
.
[ad_1] ISLAMABAD: The Oil Companies Advisory Council (OCAC) has approached the State Bank of Pakistan (SBP), asking it to enhance the provision of trade financing to meet working capital requirement of oil marketing companies (OMCs) and refineries as rupee depreciation and rising oil prices have impacted their finances. The request comes in the backdrop…
-
Chinese firms introduce new tech in power sector | The Express Tribune
.
[ad_1] ISLAMABAD: Massive energy projects, executed by Chinese firms in Pakistan, not only ended power outages in the country but also introduced the most advanced technologies in the power sector. These include the underground hydropower projects as well as the ultra-critical coal-fired power plants. In 2018, China Gezhouba Group Corp (CGGC) completed the construction of…
-
Cement sales dip 16.6% in Jan | The Express Tribune
.
[ad_1] LAHORE: The cement sector witnessed a contraction of 16.58% in January 2022 as total sales came in at 3.95 million tons against 4.73 million tons in the same month of last year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA) on Wednesday, local offtake of the commodity shrank to 3.4…
