Business News
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Trade deficit exceeds annual target | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit widened to $28.8 billion in the first seven months of current fiscal year, which was more than the annual target set by the government, further increasing the foreign borrowing requirement to bridge the yawning gap. Pakistan Bureau of Statistics (PBS) released data on Wednesday which showed that the trade deficit…
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Spanish ambassador lauds Pakistan’s Covid strategy | The Express Tribune
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[ad_1] FAISALABAD: Pakistan and Spain are enjoying cordial business relations and both sides should make efforts to enhance bilateral trade, said Ambassador of Spain to Pakistan Manuel Durán Giménez-Rico. Speaking to a delegation of the Faisalabad Chamber of Commerce and Industry (FCCI) on Wednesday, Rico appreciated the efforts of the government of Pakistan in combating…
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UK seeks to enhance trade ties | The Express Tribune
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[ad_1] LONDON: The existing bilateral trade and investment ties between Pakistan and the United Kingdom should be enhanced further in diverse fields, noted UK’s Trade Envoy to Pakistan MP Mark Eastwood. At a conference titled “Pakistan; A Land of Opportunities”, the envoy underlined that he would be visiting Pakistan, accompanied by a business delegation, to…
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Industries losing Rs45b daily due to gas shortage | The Express Tribune
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[ad_1] KARACHI: The business community of Karachi has lamented that losses worth nearly Rs45 billion were being suffered by traders each day due to unavailability of gas to industrial units of the city. The businessmen held a protest in front of Sui Southern Gas Company’s (SSGC) office in Karachi on Wednesday to demand restoration of…
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Per person debt rises nearly 50% | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Finance has submitted a self-contradictory fiscal policy statement in the National Assembly that also hid critical information from legislators, undermining the spirit of law that requires objective explanation of fiscal indicators. The Fiscal Policy Statement 2021-22 also showed that per person debt burden increased to Rs179,070 at the end of…
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IMF approves $1b loan tranche for Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The executive board of the International Monetary Fund on Wednesday revived Pakistan’s stalled programme and cleared $1 billion tranche after Islamabad gave absolute autonomy to the central bank and took around Rs800 billion measures. The executive board, that met in Washington, also waived off few conditions to pave the way for the release…
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IMF approves $1 billion tranche, makes public new conditions | The Express Tribune
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[ad_1] ISLAMABAD: The executive board of the International Monetary Fund (IMF) on Wednesday revived Pakistan’s $6 billion Extended Fund Facility (EFF) programme, paving the way for the disbursement of about $1 billion tranche. The move comes after the Pakistan Tehreek-i-Insaf (PTI) government had narrowly managed to get the crucial State Bank of Pakistan (Amendment) Bill…
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Eurozone inflation rises to new record high
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[ad_1] European Central Bank. — AFP/File BRUSSELS: Inflation in the eurozone soared to a new record high in January, official data showed Wednesday, adding pressure on the European Central Bank (ECB) ahead of a monetary policy meeting this week. The figure hit 5.1% last month, a first since the official Eurostat agency started to compile the…
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Market watch: Uptrend continues at PSX ahead of IMF meeting | The Express Tribune
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[ad_1] KARACHI: The ongoing rally continued at the Pakistan Stock Exchange on Wednesday and the KSE-100 index breached the 46,000-point mark as investors anticipated the resumption of International Monetary Fund (IMF) loan programme. The IMF board was set to meet late on Wednesday and review Pakistan’s case as the country met its prior conditions. Market…
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Pakistan to lend Sri Lanka $200mn: report
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[ad_1] Pakistan will lend Sri Lanka $200mn. ISLAMABAD: Pakistan has decided to give Colombo a $200 million loan for the purchase of rice and cement, said a Sri Lankan media report. The decision was made during a recent visit of the Sri Lankan trade minister to Islamabad, the report said. However, the terms and duration…
