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Trade deficit peaks at $39.3 billion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit crossed $39 billion in first 10 months of the current fiscal year, as the pace of increase in imports was double than the surge in exports, leaving the new government in search of dollars amid…
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‘Govt incurs Rs102 billion loss every month due to petrol prices’ | The Express Tribune
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[ad_1] KARACHI: Finance Minister Miftah Ismail claimed on Thursday that the federal government incurs a loss of Rs102 billion monthly due to the current petroleum prices, stating that the terms of Imran Khan’s International Monetary Fund (IMF) agreement stipulated a…
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Govt raises Rs376 billion through PIBs | The Express Tribune
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[ad_1] KARACHI: The cash-strapped government raised Rs375.8 billion against the set target of Rs100 billion through auctioning three to 10-year Pakistan Investment Bonds (PIB) to commercial banks on Thursday, as lending rate on the long-term bonds remained significantly low –…
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Power firms incurring Rs150 billion losses | The Express Tribune
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[ad_1] ISLAMABAD: Ex-Wapda distribution companies (XWDISCOs) are incurring losses of Rs150 billion annually on account of electricity theft, line losses and fewer recoveries, noted the National Electric Power Regulatory Authority (Nepra). During a hearing of petitions of distribution companies for…
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OGDC profit soars 79% to Rs43.16 billion | The Express Tribune
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[ad_1] KARACHI: The Oil and Gas Development Company (OGDC) net profit soared 79% to Rs43.16 billion in the third quarter ended March 31, 2022 mainly due to the rupee depreciation and surge in energy prices from the fields to the…
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ECC approves Rs68.7 billion grant | The Express Tribune
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[ad_1] ISLAMABAD: In its maiden meeting, the Economic Coordination Committee (ECC) on Tuesday approved Rs68.7 billion supplementary grant to pay for the cost of providing the petroleum products at subsidised rates – a sum that the country cannot afford to…
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SBP reserves fall $470m to $10.85 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 4.15% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 8, the foreign currency reserves held by the…
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Banks approve housing finance amounting to Rs180 billion | The Express Tribune
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[ad_1] KARACHI: Banks have shown strong progress in approving and disbursing financing under the ‘Mera Pakistan Mera Ghar’ (MPMG) scheme against the huge number of applications lodged by potential borrowers to avail housing finance. As of April 11 (2022), banks…
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Sri Lanka seeking $3 billion to stave off crisis | The Express Tribune
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[ad_1] COLOMBO: Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on…
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Germany plans over €100 billion aid for companies | The Express Tribune
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[ad_1] BERLIN: Germany plans to offer more than €100 billion ($108.8 billion) worth of aid to companies hit by fallout from the war in Ukraine, according to a document from the finance and economy ministries seen by Reuters on Friday….
