Tribune
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Pakistan, China explore investment avenues | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister of Commerce Dr Gohar Ejaz held a series of highly productive meetings with prominent Chinese business leaders and investment groups on the sidelines of the 3rd Belt and Road Forum in Beijing. These meetings were aimed at strengthening economic ties between Pakistan and China and exploring investment opportunities in Pakistan, according…
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Govt to cut spending to reduce deficit | The Express Tribune
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[ad_1] ISLAMABAD: The interim federal government has decided to reduce spending on a massive scale in order to show a surplus of Rs600 billion on behalf of the provinces during the current fiscal year and to meet the International Monetary Fund’s (IMF) condition of reducing the financial deficit of the Centre. It has also been…
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Weekly inflation eases 1.7% over oil price fall | The Express Tribune
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[ad_1] ISLAMABAD: Owing to the reduction in prices of petroleum products in line with global trend and the fall in dollar rate in the wake of a crackdown on currency smugglers and hoarders, the inflation rate has come down in Pakistan, which will provide some relief to people in the current challenging times. During the…
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Cabinet members split over free electricity supply | The Express Tribune
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[ad_1] ISLAMABAD: Though members of the cabinet have voiced concerns over supply of free electricity to the employees of Wapda and DISCOs, the ministries are divided over the proposal of discontinuing such services, which are blamed for the runaway circular debt. In a recent meeting of the cabinet, it was revealed that 189,000 employees of…
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Ankara looks to invest in pharma sector, SEZs | The Express Tribune
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[ad_1] ISLAMABAD: Turkiye Ambassador Mehmet Pacaci said on Friday that Turkish investors had shown keen interest in making substantial investments in Pakistan, especially in mining, equipment manufacturing, paper products, pharmaceutical sector and Special Economic Zones (SEZs). The ambassador stated this in a meeting with Special Assistant to Prime Minister and Minister of State on Investment…
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Current account reaches breakeven in September | The Express Tribune
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[ad_1] KARACHI: Pakistan’s current account balance almost reached breakeven with a nominal deficit of $8 million for September 2023, slightly missing market expectations of a surplus. According to State Bank of Pakistan’s (SBP) data, the current account deficit of $8 million was 95% lower than the deficit of $164 million in August and 98% lower…
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Rupee recovers nearly Rs1.5 in inter-bank | The Express Tribune
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[ad_1] KARACHI: Pakistani currency, while dismissing the negative sentiment, quickly recovered to slightly below Rs279 against the US dollar in inter-bank market on Thursday as the “authorities concerned did not find any unusual demand for the greenback.” According to State Bank of Pakistan’s (SBP) data, the currency regained 0.53%, or Rs1.48, and closed at Rs278.81…
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Stocks surge past 50,000-point barrier | The Express Tribune
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[ad_1] KARACHI: Bulls were back in driving seat at the Pakistan Stock Exchange (PSX) on Thursday as the market surged over 900 points and comfortably crossed the 50,000 barrier over expectations of a decrease in State Bank’s policy rate in the next monetary policy announcement. Though trading began on a positive note, the KSE-100 index…
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Rupee rebounds to Rs278.81 against US dollar after sharp drop | The Express Tribune
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[ad_1] KARACHI: Despite recent setbacks, the Pakistani rupee exhibited resilience, quickly recovering to a rate slightly below Rs279 against the US dollar in the inter-bank market on Thursday. This positive turn of events can be attributed to the assurance from “authorities concerned” that no unusual demand for foreign currency exists in the market. According to…
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ECC members oppose new benchmark loan rate | The Express Tribune
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[ad_1] ISLAMABAD: Amid opposition from Chinese sponsors to Pakistan’s plans to adopt a new benchmark rate for IPP loans, the economic managers have raised serious objections to the proposal submitted by the Power Division for revising the borrowing rate. The Power Division had called for a transition from the London Inter-bank Offered Rate (Libor) to…
