Express
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Banks allow unauthorised apps to provide services | The Express Tribune
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[ad_1] KARACHI: The central bank has observed that commercial banks have put their depositors’ money at risk by allowing unauthorised mobile phone applications to provide online banking services to clients directly and indirectly. The State Bank of Pakistan (SBP) said in a notification to its regulated entities (REs) providing digital banking services that “a number…
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UAE offers to acquire Karachi Port terminals | The Express Tribune
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[ad_1] ISLAMABAD: The United Arab Emirates has sought the control of the Karachi Port terminals on lease for 50 years in a negotiated deal, which may mark the first foreign transaction without competitive bidding process. According to the offer made by the Abu Dhabi Ports Company of the UAE, Pakistan will get $50 million upfront…
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Pakistan invites China, Europe to set up LNG plants | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is eyeing Central Asia as its energy trade partner, especially Turkmenistan, and is seeking gas supplies for Gwadar in an effort to make it an international energy hub by encouraging China and European countries to establish liquefied natural gas (LNG) plants and export the fuel. “We want to be a trading partner…
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‘Pakistan to benefit’ from UK’s new trading scheme | The Express Tribune
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[ad_1] KARACHI: Commerce Minister Syed Naveed Qamar said on Tuesday that a new scheme replaced the Generalised Scheme of Preferences (GSP) to help drive business between Pakistan and the United Kingdom (UK), reducing the country’s need for aid. According to a press release, the UK’s Developing Countries Trading Scheme (DCTS) had now entered into effect,…
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PM hopes to meet IMF MD in Paris | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has sought a meeting with the managing director of the International Monetary Fund (IMF) on the sidelines of the summit for a new Global Financial Pact in Paris amid a steep fall in foreign loans disbursements to just $8.4 billion this fiscal year. The cabinet sources told The…
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‘Plan ‘B’ must be actioned’ | The Express Tribune
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[ad_1] The business community has urged the government to develop a comprehensive economic plan as concerns grow over the potential stall of the International Monetary Fund (IMF) program. With the IMF programme’s future hanging in the balance, experts fear potential setbacks that could negatively impact the country’s financial stability and growth prospects. Pakistan Business Forum…
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Rs462b K-P budget seeks to promote strict austerity | The Express Tribune
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[ad_1] PESHAWAR: The caretaker government of Khyber-Pakhtunkhwa (K-P) presented an austerity budget of Rs462 billion for the next 123 days, with a view to maintaining the current level of taxes until the new elected government took over in the province. The budget for July 1-October 31, 2023 period, was unveiled at a joint press conference…
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Russia says free trade pact with Iran possible | The Express Tribune
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[ad_1] MELBOURNE: A free trade zone agreement between Iran, Russia and several countries that cover the vast Eurasian region spreading from the borders of Eastern Europe to Western China is possible by the end of the year, Russia’s TASS news agency reported on Monday. Russian Deputy Prime Minister Alexei Overchuk told the state TASS agency…
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Gwadar coal-based power plant impasse | The Express Tribune
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[ad_1] ISLAMABAD: The Gwadar coal-power plant has reached an impasse. The project is being implemented under CPEC by a Chinese company. It is an important project affecting the progress and economics of projects in Gwadar. The project promoter company has designed and proposed a power plant of 300MW based totally on imported coal. Nepra and…
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Budget FY24: missing the bus again | The Express Tribune
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[ad_1] ISLAMABAD: The macroeconomic instability that plagues Pakistan today dates back to 1989 –the year which marked the end of Afghanistan’s invasion and consequently, the stoppage/ slowdown of US aid through the Pressler Amendment. This was the exact time when we entered our first External Fund Facility (EFF) with the International Monetary Fund (IMF). Despite…
