Express
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Cabinet not satisfied with drugs pricing mechanism | The Express Tribune
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[ad_1] ISLAMABAD: The federal cabinet has observed that the medicine prices regulatory mechanism has become ineffective and exploitative amid credible complaints of endemic corruption, with the health ministry terming the 2018 Drug Pricing Policy unfair as it ensured “supernormal profits” for the pharmaceutical industry. These concerns were shared by the cabinet members in a meeting…
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IT exports expected to exceed $3b | The Express Tribune
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[ad_1] Major achievements included the incorporation of the IT industry into the SIFC, allowing 50% retention of dollars in forex bank accounts, and the introduction of Paypal services to freelancers. photo: AFP KARACHI: Leading Information Technology (IT) companies have envisioned continuing the momentum of IT and IT-enabled services exports to various countries with increased government…
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Bonds rally on Goldman Sachs forecast | The Express Tribune
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[ad_1] KARACHI: Responding to Goldman Sachs’ forecast of a rebound in Pakistan’s US dollar-denominated Eurobond, the leading foreign bond maturing in April 2024, and others maintained an uptrend for the second consecutive working day on Friday. This marks a partial recovery from the approximately 5% decline following the post-election upset. In a story titled ‘Goldman…
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Market watch : Stocks slump over changing political scenario | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Thursday slid nearly 2% to around 61,000 points as the race among different political parties intensified for forming a new government, sparking worries among investors who refrained from building new positions. In the morning, the trading session commenced on a dull note as selling pressure weighed on investor…
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Traders urge govt to withdraw gas price hike | The Express Tribune
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[ad_1] KARACHI: Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Muhammad Farooq Shaikhani has hit out at the Economic Coordination Committee (ECC) for its decision to make a massive increase of 65% in gas tariffs. He appealed to all political leaders and the country’s rulers to withdraw the gas price hike promptly to…
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Residential gas prices increased by 67% | The Express Tribune
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[ad_1] ISLAMABAD: The federal cabinet on Thursday increased gas prices for residential users up to 67% and for fertiliser plants by 700% to recover additional Rs242 billion from all the consumers – in a decision that attempts to bring some equity in the rates of the fast depleting natural asset. Immediately after the cabinet meeting,…
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IMF loan uncertainty very high | The Express Tribune
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[ad_1] KARACHI: Moody’s Investors Service has given a “credit negative” signal to Pakistan in the face of prolonged political ambiguity and social tensions over election results, which will make it tough to approach the IMF for a new programme, weaken external economy and make liquidity management more challenging. In its report titled “Political uncertainty persists…
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Development spending 61% below target | The Express Tribune
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[ad_1] ISLAMABAD: The interim government spent Rs191 billion on development projects during the first seven months of this fiscal year – a sum that is over Rs300 billion or 61% less than the target and underscores the implications of tough economic conditions. The Ministry of Planning reported on Tuesday that the development expenditures amounted to…
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JJVL calls for deregulation in LPG Policy | The Express Tribune
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[ad_1] The premier directed the Petroleum Division to draw up a plan for resuming production at JJVL plant to mitigate gas shortage in winter. Photo: File ISLAMABAD: Jamshoro Joint Venture Limited (JJVL) has proposed deregulating the base-stock price of local Liquefied petroleum gas or imported LPG in the new proposed LPG Policy, allowing market forces…
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Rupee disparity grows amid political turmoil | The Express Tribune
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[ad_1] KARACHI: The disparity in the value of the rupee between interbank and open markets widened to over Rs2 on Tuesday, compared to around Rs1.50 previously, signalling a potential return of currency volatility amid political turmoil. The spread, however, stands at 0.72% (Rs2.01), remaining well below the International Monetary Fund’s recommended maximum level of 1.25%.…
