Express
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SPI rises to 7-week high amid gas price surge | The Express Tribune
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[ad_1] KARACHI: Pakistan’s inflation rose to a seven-week high at 1.27% in the week ending February 29, primarily due to the recent significant increase in gas prices by the government, which greatly influenced the short term inflation figures. The weekly SPI (Sensitive Price Indicator) inflation had slowed to 0.04% in the previous week ending February…
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SBP injects Rs8tr to ease liquidity woes | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has injected over Rs8 trillion into conventional and Shariah-compliant banks for up to four weeks, addressing the liquidity crunch in the financial system to ensure smooth banking operations in the country. Commercial banks’ dependence on financing from the central bank has gradually increased due to significant borrowing by the government…
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Progress on acquiring land for dams reviewed | The Express Tribune
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[ad_1] ISLAMABAD: An implementation committee on Diamer Bhasha and Mohmand Dams, constituted by the Supreme Court of Pakistan, met on Thursday to review progress on land acquisition and resettlement of locals from project sites. The committee met at the request of the sub-committee on land acquisition and resettlement relating to Diamer Bhasha Dam. Water and…
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Income tax filers drop 35% | The Express Tribune
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[ad_1] ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National…
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Alibaba Cloud announces steep price cut | The Express Tribune
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[ad_1] HONG KONG: China’s Alibaba Cloud on Thursday said it will slash prices of some of its products by as much as 55%, its most severe price cut to date, amid intensifying competition to attract heavy users, particularly artificial intelligence (AI) software developers. This would be the second time the cloud arm of Chinese e-commerce…
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Sindh govt, World Bank to invest $100m in renewables | The Express Tribune
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[ad_1] KARACHI: The Sindh government is collaborating with the World Bank to set up renewable energy projects in solar and wind equipment, aiming to protect the environment from greenhouse gases and Pakistan from recurrent natural disasters. Speaking at a seminar titled ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction’, Director of Alternative…
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Exports to China jump 44.53% in 7 months | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 44.53% during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) reported. The data revealed that overall exports to China were recorded…
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Reliance on renewables a must | The Express Tribune
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[ad_1] Open access policies and the implementation of the Competitive Trading Bilateral Contract Market (CTBCM) are crucial steps towards enhancing energy adoption in Pakistan, said Abubakar Ismail, Head of Energy & Sustainability at Amreli Steels Limited. Photo: file ISLAMABAD: Pakistan’s ambitious renewable energy plans need to be coupled with close attention to addressing the system’s…
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NEPRA puts livelihoods at risk, say traders | The Express Tribune
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[ad_1] According to the data provided to Nepra, energy generation in June 2021 was recorded at 14,361.17 GWh. PHOTO: FILE KARACHI: The business community, distraught by the increasing cost of inputs, has appealed to the government to stop the National Electric Power Regulatory Authority (Nepra) from taking anti-people and anti-business decisions as businesses are on…
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China agrees to rollover $2b debt on existing terms | The Express Tribune
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[ad_1] ISLAMABAD: China has agreed to rollover a $2 billion debt on existing terms after initially seeking a hike in price, as Pakistan’s policy to maintain foreign exchange reserves through deposits by three countries is becoming costly due to a 118% surge in interest cost. The Ministry of Finance officials said that an understanding has…
