Express
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Avoiding economic meltdown | The Express Tribune
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[ad_1] ISLAMABAD: One of the steps taken by the government to forestall the gathering economic meltdown is to ban the import of about three dozen “luxury” goods (spread over 800 tariff lines), including vehicles, mobile phones, home appliances, and some prepared foods. This may be a populist measure and a public relations stunt but would…
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Structural issues behind property leasing, mortgage | The Express Tribune
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[ad_1] The World Bank’s board of executive directors earlier approved three financing projects in Pakistan worth $435 million as the country is experiencing a severe housing shortage. According to the World Bank, “Pakistan’s estimated housing shortage is up to 10 million units, about 40% in urban areas.” A critical aspect is the scarcity of property…
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Time to depoliticise fuel prices | The Express Tribune
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[ad_1] ISLAMABAD: The latest increase in fuel prices threatens to flare up inflation and consumers’ tempers while damaging the political capital of the ruling party. In many countries, fuel prices move in tandem with the international crude oil prices, but in some like Pakistan successive governments have found it tough to raise prices. With inflation…
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Miftah says import ban does not extend to industrial raw material | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail on Sunday stated that the government has not issued a ban on any industrial raw material; the ban only extends to luxury and non-essential goods. The finance minister took to his official Twitter account to clarify claims made by a citizen that the import bans include raw materials used to…
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Russia wheat to be imported against cash | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Saturday decided to directly import two million metric tonnes of wheat from Russian on cash while dropping a barter trade plan, as it also approved Rs160 billion supplementary grants to ensure uninterrupted supply of food, fuel and electricity. The decisions were taken by the Economic Coordination Committee of the Cabinet that…
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Govt urged to curb food imports | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Businesses Forum (PBF), while terming the ban on imports of luxury items necessary, has stressed the need for taking additional measures to regulate the burgeoning food import bill to support the country’s faltering economy. In a statement, PBF Vice President Ahmad Jawad called on the authorities to control the rising food imports…
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Economy may not sustain 6% growth in FY23 | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s economy faces strong headwinds and may not sustain 6% economic growth in the next fiscal year, as it is caught in a vicious cycle of inflation and currency depreciation, said the Ministry of Finance on Saturday. The monthly Economic Outlook, which marks a departure from the previous edition, raised many red flags…
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China’s Grab Unloaders to aid bulk cargo handling | The Express Tribune
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[ad_1] KARACHI: Port Muhammad Bin Qasim is poised to receive two Grab Unloaders next week to facilitate its handling of dry bulk cargo. The DM25T-43M Grab Unloaders are designed and manufactured by Nanjing Port-Machinery and Heavy-Industry Manufacture Co Ltd (NPHMC), China. This type of crane features a hopper, fully closed belt and dust control system,…
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Insurers seek complete digitisation | The Express Tribune
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[ad_1] KARACHI: Taking advantage of the growing digitalisation in the country, some divisions of the insurance sector are showing phenomenal growth. “Sectors such as health insurance are booming due to digitalisation that has contributed to the overall growth of the insurance industry,” underlined State Life Insurance Corporation of Pakistan (SLIC) board member Hamayun Bashir while…
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Country needs $36b in foreign loans | The Express Tribune
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[ad_1] KARACHI: Finance Minister Miftah Ismail has announced that Pakistan is expected to reach an agreement with the International Monetary Fund (IMF) in June, as the country is projected to need $36-37 billion in foreign financing in the next fiscal year. He revealed that at present the government was not considering raising fresh foreign debt…
