Express
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Remittances up ahead of Ramazan | The Express Tribune
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[ad_1] KARACHI: The inflow of workers’ remittances rose 18% in February 2024 compared to the same month of last year, reaching $2.25 billion ahead of the fasting month of Ramazan that is beginning next week. According to State Bank of Pakistan’s (SBP) data, the remittances had stood at $1.90 billion in February last year. The…
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Rupee rises to 4-1/2-month high vs dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani currency on Friday hit a four-and-a-half-month high at Rs279.04 against the US dollar in the inter-bank market where it extended its uptrend for the second consecutive day. The latest, meaningful increase in the rupee value came in the wake of International Monetary Fund’s (IMF) positive response to Pakistan over the request of…
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IMF refuses to be entangled in Pakistan’s electoral dispute | The Express Tribune
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[ad_1] ISLAMABAD: The Pakistan Tehreek-e-Insaf’s (PTI) attempt to block the next multi-billion-dollar bailout package backfired on Friday after the International Monetary Fund (IMF) refused to interfere in Pakistan’s politics but encouraged the country to hold fair resolution of all electrical disputes. PTI founder Imran Khan had penned a letter to the IMF, urging the global…
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PM for giving DISCOs to provinces | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday set up a committee for transferring 10 power distribution companies (DISCOs) to provinces, which was not in line with last month’s decision of the Special Investment Facilitation Council (SIFC) that wanted to hand over those firms to the private sector. The PM gave the directive to constitute…
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Moody’s upgrades Pakistan’s banking sector outlook to ‘stable’ | The Express Tribune
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[ad_1] Moody’s Investors Service has upgraded the outlook of Pakistan’s banking sector from ‘negative’ to ‘stable’, citing easing macro challenges and fiscal pressures. In its report, the agency highlighted the solid profitability and stable funding of banks, which provided a buffer against the country’s macroeconomic challenges and political uncertainties. The report forecasts a modest growth…
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Chinese PV goes global: sail against the current | The Express Tribune
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[ad_1] BEIJING: “In 2023, China’s photovoltaic (PV) application market has indeed achieved unexpected development, reaching 216.88GW (gigawatts), a staggering year-on-year growth of 148.1%, exceeding the predictions of all industry insiders. With the growing demand for green electricity, we predict that the domestic new installed capacity will remain at a high level this year,” Liu Yiyang,…
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Indus Motor shuts plant for six days | The Express Tribune
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[ad_1] KARACHI: Indus Motor Company (IMC) has announced a six-day shutdown of its production plant owing to the shortage of auto parts and components. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, the automaker said that production would remain suspended from March 6 to 11. “Based on the current low level…
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PM directs hiring of foreign consultant for FBR | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif, on Tuesday, directed the hiring of a foreign consultant to modernise the Federal Board of Revenue (FBR), indicating a departure from the previously approved restructuring plan. This decision emerged during the PM’s first comprehensive meeting on the administrative affairs of the FBR. The PM stressed the urgent need to…
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Expenses shoot up 50% in 7 months | The Express Tribune
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[ad_1] ISLAMABAD: Expenditures of the federal government shot up 50% to Rs7.5 trillion during the first seven months of the current fiscal year, a challenge that the political leadership is planning to tackle through a technocratic-bureaucratic setup in the finance ministry. As against expenses of Rs5 trillion during July-January of the last fiscal year, the…
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Authorities on alert as LPG prices soar | The Express Tribune
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[ad_1] ISLAMABAD: As liquefied petroleum gas (LPG) hoarders and profiteers increase prices by Rs20 per kg just before Ramazan, the Oil and Gas Regulatory Authority (OGRA) and LPG Distributors Association are convening today (Wednesday) to develop a joint strategy against this illegal hike. Chairman OGRA and officials will meet with Chairman of the LPG Distributors…
