Express
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NEC finally gets a shape before next week meeting | The Express Tribune
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[ad_1] ISLAMABAD: President Asif Ali Zardari on Friday constituted the National Economic Council aimed at enabling the coalition government to approve new fiscal year’s development budget and macroeconomic framework. The President of Pakistan is pleased to constitute the National Economic Council, according to a notification issued by the Cabinet Division on Friday. The federal government had…
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PM Office steps in on OMCs’ request | The Express Tribune
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[ad_1] ISLAMABAD: The Prime Minister’s Office has approached the Petroleum Division to draw its attention towards the unrecovered exchange rate loss of Rs26 billion being faced by the oil industry. It has also pointed to the reduced sales tax, which prevents the recovery of paid sales tax, resulting in Rs65 billion being held back, which…
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Rupee rallies on hopes of big IMF package | The Express Tribune
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[ad_1] KARACHI: Taking cue from Pakistan’s request to the International Monetary Fund (IMF) for a bigger bailout package of $8 billion, the rupee on Friday hit a three-week high at Rs278.20 against the US dollar in the inter-bank market. According to the State Bank of Pakistan’s (SBP) data, the Pakistani currency gained Rs0.19 compared to…
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PIA blamed for violation of loan conditions | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s economic managers have voiced concern over alleged violation of the terms of a loan acquired by Pakistan International Airlines (PIA) to address the financial challenges faced by Roosevelt Hotel, New York, which is owned by the airline. Sources told The Express Tribune that the matter was taken up during a recent meeting…
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Gold prices remain stable | The Express Tribune
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[ad_1] Gold rates have remained stable with no change observed, according to the All Sindh Sarafa Jewellers Association’s report on Friday. The price og gold remained steady at Rs 243,000 per tola. Similarly, there were no fluctuations in the prices of 24 karat gold for 10 grams, which stayed at Rs 208,333, and for 22 karat gold, which…
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How come Islamic Banks pay consistent returns? | The Express Tribune
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[ad_1] Why Islamic banks pay consistent returns? When it’s based on profit and loss sharing why they never share losses? How is this Islamic? How can an Islamic bank which is actually in loss, pay consistent profit to their depositors? These are some of the many questions raised against Islamic banks nowadays. We will…
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Pakistan and China sign 23 MOUs aimed at strengthening bilateral ties across multiple sectors | The Express Tribune
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[ad_1] Pakistan and China have inked 23 Memorandums of Understanding (MoUs) aimed at enhancing collaboration across various sectors. The MoUs signed Friday in Islamabad included transportation infrastructure, industry, energy, agriculture, media, healthcare, water management, socioeconomic development, and other mutual areas of interest. Following delegation-level discussions between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing, Foreign…
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Over 50% industrial units shut down | The Express Tribune
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[ad_1] KARACHI: Eminent business leaders have expressed grave concern about the closure of over 50% factories in every industrial zone of the country and cautioned that if the government did not take measures on a war-footing, it may turn out to be a disaster for the economy. They have pleaded for the immediate abolition of…
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PPP made privy to harsh IMF conditions | The Express Tribune
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[ad_1] As the size of the new budget is likely to soar by 30% to a record Rs18.9 trillion due to additional expenditure demands, the PML-N government on Wednesday took its main ally—the PPP—into confidence about the harsh conditions set out by the International Monetary Fund (IMF). The tax target for the Federal Board of…
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Electricity price raised by Rs3.33 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The cost of electricity for consumers rose by Rs3.33 per unit on Thursday owing to monthly fuel adjustment charges, according to a notification issued by the National Electric Power Regulatory Authority (NEPRA). The increase in electricity prices will be applied to the bills of the current month, excluding K-electric and lifeline consumers. Electricity…
