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CCP slaps Rs1.1 billion penalty on two home appliances firms | The Express Tribune
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[ad_1] KARACHI: The Competition Commission of Pakistan (CCP) has imposed a fine of Rs1.1 billion on two home appliances firms for violation of section 4 of the Competition Act, 2010. According to a statement issued on Monday, both companies entered into resale price maintenance (RPM) arrangements with their dealers. “This is a form of price-fixing…
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SBP reserves fall $250m to $16.21 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 1.52% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 4, the foreign currency reserves held by the SBP were recorded at $16,212.2 million, down $250 million compared with $16,462.3 million on February…
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Exports projected to hit $38 billion | The Express Tribune
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[ad_1] KARACHI: Pakistan’s exports of goods and services will exceed $38 billion in the ongoing fiscal year, which is for the first time in the country’s history, projected Trade Development Authority of Pakistan (TDAP) Chief Executive Arif Ahmad Khan. In a meeting with a delegation of the Council of Economic and Energy Journalists on Wednesday,…
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Hubco’s profit declines 42% to Rs5 billion | The Express Tribune
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[ad_1] KARACHI: Hub Power Company registered a 42% drop in its profit that reached Rs5 billion in the quarter ended December 31, 2021 primarily due to a hefty loss suffered by an associate firm. According to a notice sent to the Pakistan Stock Exchange on Tuesday, the energy company had posted a profit of Rs8.45…
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Food import bill topped $8 billion last year | The Express Tribune
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[ad_1] ISLAMABAD: The country imported wheat, sugar, cotton, edible oil and other agricultural commodities worth $8 billion last year, a subcommittee of the NA Special Committee on Agricultural Products was informed. The subcommittee met with its convenor Shandana Gulzar in the chair. Farrukh Ansari, a consultant, stressed the need for working hard on livestock and…
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Shaukat Tarin shares details of $3 billion funds received by Pakistan from Saudi Arabia
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[ad_1] Federal Minister for Finance and Revenue Shaukat Tarin. Photo: Radio Pakistan Federal Minister for Finance and Revenue Shaukat Tarin has revealed details of the funds worth $3 billion that Pakistan has recently received from Saudi Arabia, a written statement issued by the Senate Secretariat said. Saudi Arabia had deposited a much-awaited $3 billion tranche…
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CDWP clears Rs273 billion KCR project | The Express Tribune
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[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) has cleared Karachi Circular Railway (KCR) as a modern urban railway project worth Rs273.1 billion and referred it to the Executive Committee of National Economic Council (Ecnec) for further consideration. In a meeting of the CDWP chaired by Planning Commission (PC) Deputy Chairman Jahanzeb Khan on Thursday,…
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State Bank reserves soar $1.61b to $17.34 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank surged 10.23% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On February 4, the foreign currency reserves held by the SBP were recorded at $17,336.8 million, up $1,609 million compared with $15,727.6 million on January…
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SBP receives $1 billion IMF loan tranche | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has received a loan installment of $1.053 billion from the International Monetary Fund (IMF) under the $6 billion Extended Fund Facility (EFF). “Following the successful completion of sixth review of the IMF programme, SBP has received the next tranche of $1.053 billion,” the State Bank of Pakistan…
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IMF approves $1 billion loan tranche for Pakistan
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[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…
