Business News
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ADB raises Asia-Pacific growth forecast for 2024 to 5pc | The Express Tribune
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[ad_1] MANILA: The Asian Development Bank (ADB) on Wednesday slightly raised its 2024 growth forecast for developing Asia and the Pacific to 5 per cent from 4.9 per cent, reflecting the region’s accelerated growth in the first quarter of this year. The growth outlook for 2025 remains at 4.9 per cent. In its latest supplement…
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Cabinet places sugar price cap | The Express Tribune
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[ad_1] ISLAMABAD: The cabinet has placed a price cap on sugar to regulate its export in a bid to avoid manipulation of domestic prices. Sources informed The Express Tribune that the cabinet, chaired by Prime Minister Shehbaz Sharif, decided that if the retail price of sugar exceeds the benchmark ex-mill price or the retail price…
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Moody’s warns of liquidity risks for Pakistan despite IMF agreement
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[ad_1] Signage is seen outside the Moody’s Corporation headquarters in Manhattan, New York, US, November 12, 2021. — Reuters Moody’s Ratings said on Tuesday that the new International Monetary Fund (IMF) deal will open financing avenues for Pakistan, but liquidity risks remain if the reforms are not implemented stringently and failure to do so could…
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IMF agreement boosts Pakistan’s funding prospects: Moody’s | The Express Tribune
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[ad_1] PAKISTAN: Global rating agency Moody’s on Tuesday said that Pakistan’s staff-level agreement with the International Monetary Fund (IMF) has improved the funding prospects, but the ability to sustain reforms is key to easing liquidity risks. In a press release, Moody’s stresses that Pakistan’s success depends on its ability to sustain key reforms to mitigate liquidity…
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Reeling from electric shock consumers hit by petrol bomb | The Express Tribune
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[ad_1] ISLAMABAD: The federal government further squeezed people’s purchasing power by raising petrol and diesel prices on Monday, a day after notifying a hike in electricity tariff for both domestic and commercial consumers. According to a finance ministry notification, petrol prices rose by Rs9.99 per litre, while high-speed diesel (HSD) increased by Rs6.18 per litre…
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Govt hikes petrol price by Rs9.99 per litre
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[ad_1] An fuel station worker holds a petrol nozzle at a petrol pump. — Reuters The government has hiked the petrol price in the country by Rs9.99 per litre under the latest fortnightly review of the fuel rates. Moreover, the price of high-speed diesel (HSD) has also been hiked from Rs277.45 per litre to Rs283.63…
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PSX hits fresh peak on IMF deal | The Express Tribune
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[ad_1] Pakistan Stock Exchange (PSX) skyrocketed to an all-time high on Monday in a robust rally driven primarily by Pakistan’s agreement with the International Monetary Fund (IMF) on a $7 billion Extended Fund Facility (EFF) at the weekend as well as the ongoing earnings season. The day commenced with a spike in the KSE-100 index,…
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Industrialists demand forensic audit of IPPs | The Express Tribune
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[ad_1] KARACHI: Local traders and industrialists have lodged a strong protest against the supply of expensive electricity and demanded a forensic audit of independent power producers (IPPs) as well as revision of their contracts. At a press conference at the Federation House on Monday, representatives of trade and industry regretted that energy costs had become…
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IMF deal boosts PSX to historic peak
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[ad_1] Stock brokers watch share prices during a trading session at the Pakistan Stock Exchange (PSX) in the Provincial Capital on February 13, 2024. — Online KARACHI: Bulls took charge of the Pakistan Stock Exchange (PSX) on Monday after the market gained new heights by gaining more than 1,000 points due to the new $7…
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Petrol prices set for major hike from tonight | The Express Tribune
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[ad_1] ISLAMABAD: The government is poised to increase petroleum product prices from July 16, with petrol expected to go up by Rs7.67 per litre, high-speed diesel by Rs3.72 per litre, and kerosene by Rs2.73 per litre. According to Express News, a proposal to raise the levy on petroleum products has been prepared and is awaiting…
