Tribune
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‘Pakistan set to secure second IMF tranche’ | The Express Tribune
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[ad_1] KARACHI: Pakistan is on track to secure the International Monetary Fund’s (IMF) first economic review under its $3 billion loan programme in November, paving the way for the release of the second tranche of $700 million, despite some missed targets and challenges in implementing promised reforms. A recent report from Topline Research titled ‘Pakistan…
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Exports to China increase by 5.16% | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s exports of goods and services to China have increased by 5.16% in the first two months of the fiscal year 2023-24, reaching $350.297 million, compared to $333.077 million in the same period last year. This marks a substantial 25.09% increase yearly as reported by the State Bank of Pakistan. In August 2023,…
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Report projects up to Rs41 cut in oil prices | The Express Tribune
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[ad_1] KARACHI: The government is expected to make a massive reduction of up to Rs41 per litre in petroleum product prices for the second fortnight of October as a sharp drop in the global oil market and a significant recovery of Pakistani rupee have made imports cheaper. The projection, if comes true, will slow down…
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Fuel prices may undergo major dip from 16th | The Express Tribune
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[ad_1] ISLAMABAD: The prices of petrol and high-speed diesel (HSD) are expected to further decline significantly in Pakistan from October 16 after the reduction in the rates of petroleum products in the international market. The global oil prices were on track on Friday to post their steepest losses in a week since March, after another…
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Crackdown pulls down gold price sharply | The Express Tribune
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[ad_1] KARACHI: The price of gold has dropped sharply in the domestic market in the wake of stern action against the mafia involved in illegal activities. Since the crackdown on illicit trade, the price of gold has come down by a whopping Rs27,000, reaching Rs188,000 per tola. The local gold pricing body has not been…
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NEPRA okays Rs1.71 per unit hike in power tariff | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved an increase in the price of electricity by Rs1.71 per unit on account of Fuel Cost Adjustment (FCA) for the month of August 2023 and issued a notification in this regard. The tariff hike will be shown separately in the consumers’ bills and the effects of…
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Customer deposits ‘perfectly safe’, clarifies SBP | The Express Tribune
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[ad_1] The State Bank of Pakistan on Thursday clarified that customer deposits are “perfectly safe” owing to the sound banking system in Pakistan. The clarification by the central bank comes following reports in certain sections of the media that implied bank deposits above Rs500,000 in the banking system were unsafe. The SBP added that the Deposit Protection…
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PSO diversifies business to boost revenue | The Express Tribune
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[ad_1] KARACHI: State-owned Pakistan State Oil (PSO) has diversified its business as it set up fintech, venture capital and renewable energy companies in an effort to continue earning revenue of trillions of rupees. It comes at a time when the company’s core energy business is experiencing a historically low demand and high circular debt in…
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Petroleum sales fall to 44-month low | The Express Tribune
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[ad_1] KARACHI: The demand for petroleum products in Pakistan hit a 44-month low at 1.06 million tons in September 2023, primarily due to a surge in prices in line with global uptrend. Topline Research analyst Myesha Sohail, in a commentary, said sales of petroleum products declined to the lowest level since the Covid-19 lockdown in…
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Minister calls for national seed policy | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Federal Minister for National Food Security and Research, Dr Kausar Abdullah Malik, on Tuesday, convened a meeting to address Pakistan’s seed system. The gathering, attended by key stakeholders, aimed to evaluate challenges and future prospects. According to a statement issued by Ministry of National Food Security, Malik called for a uniform regulatory…
