Express
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‘Country has successfully overcome economic vulnerability’ | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar said on Saturday that the country had “successfully” overcome economic vulnerability resulting in a halt to “any further decline”. The minister was addressing the post-budget press conference in Islamabad. A day earlier, the government unveiled a Rs14.5 trillion bloated budget, with the highest-ever deficit of Rs7.6 trillion in a bid…
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Working on restructure of debt with bilateral lenders: Dar | The Express Tribune
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[ad_1] Pakistan is working on the possibility of restructuring its bilateral debt regardless of whether it successfully completes its IMF review, Finance Minister Ishaq Dar said on Saturday, but reiterated it would not approach Paris club nation creditors or seek haircuts. “We’ll see how things go,” Dar told reporters, a day after releasing the budget…
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Cabinet approves 30% increase in salaries of govt officials | The Express Tribune
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[ad_1] KARACHI: According to Express News, minutes after Prime Minister Shehbaz Sharif addressed the federal cabinet and gave an impassioned speech about the impact of inflation on the masses – especially the salaried class – the cabinet approved a 30% increase in salaries of government employees. It has also proposed raising minimum wage to Rs30,000…
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17.5% increase in pension of govt employees in 2024 budget | The Express Tribune
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[ad_1] ISLAMABAD: Presenting the federal budget for Fy2023-24, Finance Minister Ishaq Dar announced a 17.5% increase in the pension of government employees. Unveiling the budget for FY24, the finance minister said “The next fiscal year’s budget will not be an election year budget. It is a fiscally responsible budget,” he said, adding as a precursor…
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Pakistan, Turkmenistan ink JIP for TAPI | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Turkmenistan on Thursday signed a Joint Implementation Plan (JIP) in a bid to expedite work on the Turkmenistan, Afghanistan, Pakistan, and India (Tapi) gas pipeline project and complete the feasibility of the project at the earliest. The JIP was signed by Minister of State for Petroleum Dr Musadik Malik and State Minister and…
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Pakistan to leave 21% policy rate unchanged: analysts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s central bank is widely expected to keep its key interest rate unchanged at 21% on Monday after aggressive rate hikes since April last year to tackle record-high inflation amid the nation’s worst-ever economic crisis. The country’s key rate has been raised by a massive 1125 basis points (bps) since April 2022 and…
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Govt may amend law to bring in dollars | The Express Tribune
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[ad_1] ISLAMABAD: The government is considering allowing people to bring in up to $100,000 from abroad without disclosing the source of income in a move that it hopes can fetch billions of dollars in the next fiscal year. However, this move can create some troubles. Sources told The Express Tribune that the government is considering…
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Budget caught between IMF expectations and election | The Express Tribune
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[ad_1] KARACHI: The federal government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for the 2023-24 fiscal year to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month with about $2.5 billion…
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SECP green lights Symmetry Group IPO | The Express Tribune
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[ad_1] The Securities and Exchange Commission of Pakistan (SECP) has given approval to Symmetry Group Limited, a renowned digital technology and experiences company based in Pakistan, for its Initial Public Offering (IPO). This significant milestone allows Symmetry Group to move forward with its plans to launch the IPO and offer shares to the public. Symmetry Group is a…
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UAE firm acquires majority stakes in ZIL Ltd | The Express Tribune
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[ad_1] KARACHI: Foreign investors are showing confidence in Pakistan’s long-term business potential, as a UAE-based firm acquires majority stakes in Zulfiqar Industries Limited (ZIL Limited), the company behind the renowned 50-year-old Capri soap brand. The acquisition, valued at Rs1.56 billion ($6 million), highlights the investor’s belief in Pakistan’s economy and its vast consumer market. New…
