Express
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Govt approves Rs60b relief package | The Express Tribune
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[ad_1] ISLAMABAD: The government on Thursday approved a Rs60 billion relief package to provide five essential goods to poorer households at subsidised rates, a 71% increase from the previous allocation due to a significant rise in prices over the past year. The decision was made by the Economic Coordination Committee (ECC) of the Cabinet, led…
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PSX shrugs off slump, rallies by around 650 points | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) has shrugged off its downward slump on Thursday and surged by 667 points to reach 78,545 during intra-day trade. This marks a notable 0.85% rise from its previous close of 77,878 points. Ahead of the August 14 Independence Day holiday, the PSX fell over 100 points in a range-bound session…
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PIA suffers Rs21.81b loss due to aircraft grounding | The Express Tribune
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[ad_1] KARACHI: Pakistan International Airlines (PIA), which is currently for sale, has suffered a staggering operational and financial loss exceeding Rs21.81 billion due to the prolonged grounding of aircraft in its fleet for maintenance. According to the auditor general’s report, the routine maintenance of PIA’s aircraft took between 44 to 239 days, far longer than…
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Automakers look for more export avenues | The Express Tribune
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[ad_1] LAHORE: The automotive sector is showing signs of becoming another avenue for fetching export revenue, as many companies, both four- and two-wheelers, strive to make progress in line with the auto policy 2021-26. The reasons for exporting four-wheelers are obvious, ie, the auto policy 2021-26, however, many experts believe that unstable local demand and…
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Five mineral projects picked for investment | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has identified five potential mineral projects that it will offer to the United Arab Emirates (UAE) for investment and development. In this regard, the two sides will sign a deal to formalise their partnership. According to sources, the five mineral projects have been selected in Chagai, Waziristan and Gwadar. Among these include…
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Oil prices dip as US crude stocks rise | The Express Tribune
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[ad_1] HOUSTON: Oil prices edged lower on Wednesday after US crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 41 cents, or 0.5%, to $80.28 a barrel by 1436 GMT. US West…
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Sovereign Wealth Fund hits legal snags | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s plans to sell stakes of its profitable energy companies to the United Arab Emirates (UAE) through the Pakistan Sovereign Wealth Fund (PSWF) have hit snags, as the government admitted on Tuesday that there was a lot of confusion and overlapping about the wealth fund. “There are many confusions in the law [Sovereign…
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Gold rises to record high, rupee falls | The Express Tribune
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[ad_1] KARACHI: Gold price hit an all-time high at Rs257,700 per tola (11.66 grams) in line with the global trend on Tuesday while the Pakistani rupee slightly weakened to Rs278.70 against the US dollar in the inter-bank market. According to the All Pakistan Sarafa Gems and Jewellers Association, bullion surged Rs1,200 per tola in a…
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Rs515b development projects approved | The Express Tribune
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[ad_1] ISLAMABAD: In stark contrast with Pakistan’s worsening fiscal situation and rising public debt, the government approved 15 development projects on Tuesday, costing a total of Rs515 billion, including a $900 million foreign loan aimed at addressing climate change. The Central Development Working Party (CDWP), which is responsible for sanctioning development projects, held a daylong…
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Digitisation to help achieve sustainable growth | The Express Tribune
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[ad_1] ISLAMABAD: Minister of State for Finance and Revenue Ali Pervez Malik has stressed that if the country needs to achieve a more inclusive and sustainable growth, then end-to-end-digitisation of the Federal Board of Revenue (FBR) is imperative. Chairing first meeting of the task force on digitalisation of the FBR, held on Tuesday at the…
