Express
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Budget deficit surges over 50% | The Express Tribune
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[ad_1] ISLAMABAD: The federal government’s budget deficit widened by more than 50%, primarily due to a steep increase in interest payments that reached Rs4.2 trillion during the first half of this fiscal year, casting doubt on the effectiveness of the International Monetary Fund (IMF) programme. The Rs4.22 trillion interest payments exceeded the net income of…
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SBP all set to replace currency notes in circulation | The Express Tribune
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[ad_1] KARACHI: In a move aimed at curbing corruption and enhancing security features, the State Bank of Pakistan (SBP) has announced plans to replace almost all currency notes currently in circulation starting February 2024. Speaking to journalists ahead of the monetary policy press conference on Monday, SBP Governor Jameel Ahmad outlined the central bank’s strategy…
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Economic revival, CPEC and Agenda 2047 – IV | The Express Tribune
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[ad_1] ISLAMABAD: The China-Pakistan Economic Corridor (CPEC) holds the potential to assist Pakistan in revitalising its economy and setting the stage for sustainable development. Following the successful completion of the first phase, CPEC has now entered its second phase. The long-term document of CPEC outlines industrialisation and agricultural cooperation as driving forces during this stage…
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Election manifesto – PML-N’s cautious optimism on economy | The Express Tribune
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[ad_1] ISLAMABAD: The Pakistan Muslim League-Nawaz has unveiled a cautiously optimistic economic manifesto in a bid to strike a balance between high hopes of the people and harsh ground realities with regard to the country’s dire financial straits, setting mostly achievable goals without unravelling the economic stability. Some of the goals are largely in line…
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Experts see no change in policy rate | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is scheduled to meet on Monday to announce monetary policy for the next six weeks with a majority of experts anticipating no change in policy rate for now as the IMF has recommended to maintain a tight policy to overcome future economic challenges. At the same time, a notable section…
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Chinese banks doing well despite turmoil: Yellen | The Express Tribune
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[ad_1] MILWAUKEE: US Treasury Secretary Janet Yellen said on Friday that Treasury officials visiting Beijing recently received assurances that Chinese banks are “doing well” despite turmoil in the country’s financial and real estate markets, adding that she did not see large spillovers to the US economy at this stage. Yellen told reporters during a visit…
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Electric bikes gain popularity | The Express Tribune
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[ad_1] KARACHI: Out of a total of 18 Electric Vehicle (EV) motorbike brands, ten have been gaining more popularity compared to fuel-driven bikes in the market. Another eight brands are expected to emerge in March, according to experts and analysts. “Ten branded companies have started selling EV motorbikes, while another eight firms will come up…
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Inflation spikes to 43.79% YoY | The Express Tribune
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[ad_1] KARACHI: The week ending January 25 witnessed a sharp surge of 43.79% in inflation, as measured by the Sensitive Price Indicator (SPI), compared to the same week last year. The rise, driven by increased energy and food prices, has placed significant strain on the purchasing power of consumers. This persistent inflationary trend is attributed…
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PRL launches $1.7b refinery upgrade project | The Express Tribune
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[ad_1] KARACHI: Pakistan Refinery Limited (PRL) has kick-started a refinery expansion and upgrade project (REUP) costing $1.7 billion in a bid to double its installed crude processing capacity to 100,000 barrels per day and boost the production of products with high profit margins as well as low-sulphur fuel including Euro-II and Euro-V petrol and diesel.…
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Cabinet questions FBR restructuring | The Express Tribune
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[ad_1] ISLAMABAD: A majority of members in a federal cabinet body have identified flaws in the finance minister’s plan to restructure the Federal Board of Revenue (FBR), finding it not aligned with the requirements to end corruption and misuse of power by taxmen and lacking substance to enhance collection. The sub-committee of the federal cabinet…
