Express
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SBP reserves dip $145m to $10.16b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 1.40% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 13, the foreign currency reserves held by the SBP were recorded at $10,163.6 million, down $145 million compared with $10,308.7 million on May…
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Revised transit trade deal remains elusive | The Express Tribune
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[ad_1] ISLAMABAD: As Pakistan and Afghanistan fail to sign a revised transit trade agreement, the former has granted another extension to continue the reciprocal trade arrangement between the two neighbouring countries. The transit trade agreement expired on February 11, 2021. Though Pakistan has made efforts to ink a revised deal, any agreement between the two…
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Exporters for continuing lower energy tariffs | The Express Tribune
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[ad_1] KARACHI: Textile exporters have demanded the continuation of concessionary energy tariffs for the export industry. “Any imprudent and unwise decision of the government to discontinue the concessionary power tariff for the five export-oriented sectors will be disastrous, damaging the struggle of exporters to enhance exports,” said Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Central…
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Oil, gas production drops on fields’ shutdown | The Express Tribune
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[ad_1] KARACHI: Pakistan’s oil and gas production dropped 5% and 3.5% respectively during the week ended on Thursday as two fields were shut down for annual overhaul. The planned turnaround of the oil and gas fields occurred at a time when the country was suffering from energy crisis like prolonged power outages for residential, industrial…
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Savings, investment targets missed | The Express Tribune
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[ad_1] ISLAMABAD: Investments and savings as a percentage of the size of Pakistan’s economy have remained below the official targets in the outgoing fiscal year, affirming that the 6% economic growth rate was fed by imports and consumption. Like its predecessor, the government of former prime minister Imran Khan could not resolve the two chronic…
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Japan’s trade gap widens in April | The Express Tribune
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[ad_1] TOKYO: Japan’s exports extended double-digit gains for a third straight month in April, but surging global commodity costs inflated the country’s import bill to a record, adding to worries about the rising cost of living. Shoring up the prospects of a private demand-led recovery, however, was a gauge of capital expenditure that posted its…
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Efforts underway to cut telecom taxes | The Express Tribune
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[ad_1] ISLAMABAD: Federal IT Minister Syed Aminul Haque has emphasised that the IT ministry is working to remove all obstacles and enhance cooperation with the telecom sector for the fulfillment of Digital Pakistan Vision including high-level efforts to reduce taxes and address other issues related to the central bank and the Right of Way. He…
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Plan to set up Pak-China Technology Gateway | The Express Tribune
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[ad_1] LAHORE: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Wang Zihai has pledged that after the successful working of Pakistan-China Knowledge Portal, an online Pakistan-China Technology Gateway will be established soon. Speaking at a think tank session held at the PCJCCI premises, he maintained that technological advancement for human resources development is the…
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Foreign investors stop Samba Bank stake sale | The Express Tribune
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[ad_1] KARACHI: Foreign investors have cancelled a planned deal for selling stake in a bank operating in Pakistan, saying they have decided to retain the shareholding “given the Pakistan banking sector outlook”. “Saudi National Bank (SNB) is terminating the process for the sale of SNB’s equity stake in Samba Bank Ltd (SBL),” SBL Company Secretary…
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Minister woos investors | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Privatisation Mir Abid Hussain Bhayo has stressed that the government’s investment policy provides both domestic and foreign investors with the same incentives, concessions and facilities for industrial development. “Pakistan is an ideal place for foreign investment and we are much keen to provide investors a friendly regime as we believe…
