Express
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Debt suspension deal with Korea signed | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Korea have signed a Debt Service Suspension Agreement. This agreement allows for the deferment of loan payments worth $19.911 million under the G-20 Debt Service Suspension Initiative (DSSI). Originally scheduled to be repaid between July and December 2021, the repayment will now be spread over six years, with a one-year grace…
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Massive reduction announced in petrol, diesel prices | The Express Tribune
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[ad_1] The federal government on Monday announced a massive reduction in the prices of petroleum products in the country following a declining price trend in the international oil markets. “The government has decided to reduce the existing prices of petroleum products in order to pass on the benefits of decreasing price trend of petroleum products in the…
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Isn’t climate change a matter of national security? | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is widely recognised as one of the country’s most vulnerable to the impacts of climate change. The nation is actively working to mitigate the effects of climate change on its food and water supply, healthcare system, forests, energy infrastructure, and other critical areas. However, the security implications of climate change are largely…
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Local, global solar market trends | The Express Tribune
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[ad_1] ISLAMABAD: There has always been a problem in Pakistan’s energy sector. Earlier, there were load-shedding issues due to generation capacity limitations. Now, there is capacity surplus causing circular debt. There is also higher fuel prices issue and lower transmission capacity and its discontinuities. Alternative projects were delayed due to high capacity payment liabilities. Now,…
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Petrol price likely to drop by Rs10 per litre | The Express Tribune
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[ad_1] The Oil and Gas Regulatory Authority (OGRA) has proposed a reduction in the prices of petroleum products, whereby the price of petrol can drop by Rs10 per litre. According to Express News, the price of petrol can be reduced by Rs7 to Rs10 per litre while the price of diesel is proposed to be…
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KPT being run on ad hoc basis since Dec 2020 | The Express Tribune
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[ad_1] ISLAMABAD: The government has continued to run the affairs of Karachi Port Trust (KPT) on an ad hoc basis as it has now appointed its fourth chairman on deputation. Earlier, the KPT chairman was removed by the previous Pakistan Tehreek-e-Insaf (PTI) government over alleged differences with the maritime affairs minister but court suspended the…
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Industry’s help sought to steer out of crisis | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Commerce Syed Naveed Qamar on Friday declared that the government would take all possible measures to ensure ease of doing business for the business community. Talking to business leaders, he emphasised that they could play an important role in steering Pakistan’s economy out of the current crisis, according to a statement.…
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Govt plans to borrow Rs9.4tr in three months | The Express Tribune
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[ad_1] KARACHI: The cash-strapped government of Pakistan has announced that it will borrow a record Rs9.44 trillion from domestic commercial and Shariah-compliant banks, an amount needed to repay some of the maturing debt and finance expenditures over three months ending July 2023. According to the State Bank of Pakistan’s (SBP) data, the government will acquire…
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US could start buying oil for reserve after June sale | The Express Tribune
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[ad_1] WASHINGTON: US Energy Secretary Jennifer Granholm told lawmakers her department could start repurchasing oil for the Strategic Petroleum Reserve (SPR) after completing a congressionally mandated sale next month. “That congressionally mandated sale of 26 million barrels will be completed by June, and it’s at that point where we will flip the switch and then…
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Rupee makes recovery against USD, appreciates by 5% | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee dramatically recovered 5%, or Rs15, to the pre-political crisis rate of Rs284 against the US dollar in the interbank market on Friday. Yesterday, the currency had nosedived to an all-time low at Rs299 against the greenback. The rupee had slumped by around 4%, or Rs14 in the past two days…
