Express
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IMF to urge China to shift growth model | The Express Tribune
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[ad_1] WASHINGTON: The International Monetary Fund plans to tell China to boost weak domestic consumption, address its troubled real estate sector and rein in local government debt, problems that are dragging down both Chinese and global growth, IMF Managing Director Kristalina Georgieva told Reuters. Georgieva said in an exclusive interview the messages will be delivered…
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Petrol price jumps to over Rs330 in massive hike | The Express Tribune
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[ad_1] In another massive hike after the interim set up took over the reign, the government on Friday increased the price of petrol by Rs26.02 per litre while the tariff of high-speed diesel (HSD) was hiked by Rs17.34 per litre. “Owing to the increasing trend of petroleum prices in the international market, the government has decided to…
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Petrol, diesel witness massive price hikes | The Express Tribune
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[ad_1] ISLAMABAD: In another massive hike in the rates of petroleum products on Friday after the interim set-up took over the reins in August, the price of petrol was increased by Rs26.02 per litre while that of high-speed diesel (HSD) by Rs17.34 per litre. On Thursday, speculations were rife that the prices of petrol and…
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Oil set for 3rd weekly gain | The Express Tribune
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[ad_1] BENGALURU: Oil prices hit a 10-month high on Friday and were set to post a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude. By 1615 GMT, US West Texas Intermediate futures were up 62 cents, or 0.7%, to $90.78 a barrel…
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Foreign currency reserves fall by $140m to $7.64b | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has reported a 1.8% decline in foreign exchange reserves on a week-on-week basis, with the total now standing at $7.64 billion. According to data released by the central bank on Thursday, its foreign currency reserves decreased by $140 million and reached $7,638.9 million in the week ended…
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Military helps stifle currency black market | The Express Tribune
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[ad_1] KARACHI/PESHAWAR: When the military was called on to help defend the ailing rupee, licenced foreign exchange traders cheered while their black market rivals in the bazaars of Peshawar, Karachi and other cities shuttered their shops before they got taken away. The campaign against the informal market has worked. Tens of millions of dollars have…
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SBP keeps policy rate unchanged at 22% against expectations | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) surprised financial markets on Thursday by leaving its benchmark policy rate – the cost of bank lending – unchanged at 22%, against the expectation of an aggressive hike of up to 300 basis points. In a statement, the SBP said that the Monetary Policy Committee (MPC) decided…
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IMF sets conditions for power bill relief | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has urged the caretaker government to improve its power generation system in order to provide relief to Pakistani consumers, while demanding that the government withdraw the subsidy it is providing on gas being supplied to captive power plants (CPPs). The IMF made this demand during its talks with…
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Petrol price likely to go up by Rs16 per litre | The Express Tribune
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[ad_1] ISLAMABAD: Amid a backdrop of ongoing economic challenges, including soaring inflation, rupee depreciation against the dollar, inflated utility bills, and escalating prices of essential commodities, Pakistan finds itself on the brink of another significant economic setback. The nation is preparing for a substantial increase in the price of petrol, projected to surge by up…
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Analysts anticipate hike of 150bps in key rate | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is expected to hike rates when it meets to decide on policy on Thursday as it seeks to tackle sky-high inflation and bolster diminished foreign exchange reserves that have sent the rupee to record lows. Economic and political crises have seen the State Bank of Pakistan (SBP) lift its benchmark…
