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IPP built for Rs50 billion has received Rs400 billion in payments: FPCCI | The Express Tribune
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[ad_1] Abdul Mohamin, the acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for public disclosure of details related to agreements with Independent Power Producers (IPPs). During a press conference on Monday, Mohamin highlighted that IPPs are receiving monthly capacity payments amounting to Rs150 billion, including payments to non-operational…
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Brazil to freeze $2.70 billion in budget to meet fiscal target | The Express Tribune
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[ad_1] BRASILIA: Brazil’s Finance Minister, Fernando Haddad, announced on Thursday a plan to freeze 15 billion reais ($2.70 billion) from the 2024 budget. This move comes as the government grapples with meeting its fiscal targets for the year, following market pressures to reduce spending after a recent decline in local asset values. Of the total…
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$7 billion IMF deal laced with harsh strings | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund have reached a staff level agreement for a $7 billion Extended Fund Facility programme -in a deal that in short-term inflicts heavy burden on the nation but also ends decades-old protections to agriculturists and exporters. The global lender announced the over three-year 24th programme deal only after…
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Pakistan secures $7 billion EFF deal | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund have reached a staff level agreement for a $7 billion Extended Fund Facility programme -in a deal that in short-term inflicts heavy burden on the nation but also ends decades-old protections to agriculturists and exporters. The global lender announced the three-year 24th programme deal only after Pakistan…
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Oil, gas exploration sector announces $5 billion investment in Pakistan
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[ad_1] A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. — Reuters ISLAMABAD: Reposing full trust in Prime Minister Shehbaz Sharif-led government’s pro-investor policies, a group of Oil and gas exploration and production (E&P) giants aims to spend $5 billion to tap new energy in energy-strapped Pakistan,…
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Pakistan’s agriculture exports reach record $8 billion | The Express Tribune
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[ad_1] Pakistan has achieved a significant milestone in agricultural sector with agro-exports reaching an unprecedented 8 billion US dollars mark for the first time in previous fiscal year from July 2023 to June 2024, Pakistani Commerce Minister Jam Kamal Khan said Saturday. The achievement underscores the collective efforts of traders, farmers, the Trade Development Authority…
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Pakistan’s SOEs losses hit Rs905 billion in FY23
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[ad_1] A repersentational image of a graph. — Unsplash Pakistan’s state-owned enterprises (SOEs) losses hit a staggering Rs905 billion in the fiscal year 2022-23, showing a 23% swell compared to the previous fiscal year of 2021-22. It was revealed in a report titled “Aggregate Annual Report on Federal State-Owned Enterprises (SOEs) for Financial Year 2023,”…
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PSO to fund $1.5-2 billion investment with debt | The Express Tribune
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[ad_1] KARACHI: Pakistan State Oil (PSO) has announced plans to raise foreign debt to finance a significant portion of its planned $1.5-2 billion investment in Pakistan Refinery Limited (PRL). Meanwhile, its receivables have surged to Rs810 billion, largely due to circular debt, including late payment surcharges. At an analyst briefing on the financial accounts for…
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Govt proposes Rs267 billion for various ongoing, new power sector schemes
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[ad_1] A lower view of a transmission tower in Pakistan. — AFP/File The government has allocated an amount of Rs267,952.773 million for various ongoing and new schemes of power sector in annual public sector development programme (PSDP) for year 2024-25. According to the budgetary document released on Wednesday, out of total allocation, a sum of…
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New £34 billion high speed train line to connect these two countries
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[ad_1] New high-speed train line under construction will connect Chengdu in Sichuan, China, and Lhasa in Tibet. — Express via Belmond/File A new high-speed train line under construction, once completed, will connect Chengdu in Sichuan, China, and Lhasa in Tibet in only 13 hours. It will cut down 48 hours of travel time into just…
