Tribune
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Oil crisis brews as depots run dry | The Express Tribune
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[ad_1] ISLAMABAD: The government on Tuesday feared oil crisis as retail outlets of some oil marketing companies (OMCs) were reportedly found dry at a few locations in the country. Keeping in view this situation, the Petroleum Division called upon the Oil and Gas Regulatory Authority (Ogra) chairman to take regulatory action against those companies operating…
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SNGPL unearths gas theft at major mobile tower | The Express Tribune
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[ad_1] LAHORE: In a startling development, Sui Northern Gas Pipelines Limited (SNGPL) has said on Monday, that it uncovered a significant case of gas theft at a mobile phone tower site operated by Pakistan’s largest mobile phone operator, Jazz, located in Karak, Khyber-Pakhtunkhwa (K-P) province. SNGPL has recently launched an aggressive anti-gas theft campaign and…
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Sharp drop in worker remittances | The Express Tribune
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[ad_1] KARACHI: The inflow of workers’ remittances sent home by overseas Pakistanis through official channels remained low at $2.09 billion in August 2023, adding to pressure on the country’s capacity to pay for imports and repay the maturing foreign debt. According to the State Bank of Pakistan (SBP)’s data released on Monday, the remittances from…
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Oil bonded warehouse policy’s impact on economy | The Express Tribune
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[ad_1] ISLAMABAD: Recently, an oil bonded warehouse policy has been announced. This is one of the best and useful policies that one would have seen in recent years. Petroleum Division is the author of this policy along with input from relevant agencies like the Federal Board of Revenue (FBR), Customs and commerce ministry, who deserve…
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The ultimate trade challenge | The Express Tribune
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[ad_1] KARACHI: Pakistan continues to face challenges in its external account as the PKR to USD exchange rate rises beyond the Rs300 threshold, and the foreign exchange reserves held by the central bank decline. Although policymakers managed to reduce the trade deficit to less than $28 billion in FY2023 from $48.4 billion in FY2022, as…
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Will unwarranted rate increase solve problems? | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) is mulling over monetary policy decision this week. The economic contraction is so severe that this entire fiscal year will be marred with economic, social and political chaos. Entire population – educated or not – is either discussing dollar rate or inflationary trends in fuel and food…
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Govt mulls ordinance to digitise economy | The Express Tribune
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[ad_1] ISLAMABAD: In an effort to digitise the economy, the interim government is planning to bring legislative and administrative changes, besides empowering the Ministry of Information Technology to play the role of a data-gathering agency to broaden a narrow tax base of 4.2 million filers. Sources told The Express Tribune that various proposals to increase…
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Chevron pulls crew from Australia project | The Express Tribune
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[ad_1] BENGALURU: Chevron Corp started withdrawing contractor workers from its Gorgon liquefied natural gas (LNG) facility on Saturday, shortly after staff went on strike at two major projects in Australia, a union coalition said. “Chevron chartered a special flight this morning to Barrow Island to evacuate 50 blue and white collar contract crew off the…
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Retailers warn of Rs3.5tr loss in sales | The Express Tribune
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[ad_1] LAHORE: Retail store chains in the country, while opposing the government’s decision of early market closure, have proposed alternative measures to ensure balanced energy conservation. They caution that any reduction in retail peak hours will slash their revenue by 30% and cause sales losses of Rs3.5 trillion. Besides, about Rs300 billion may be lost…
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Over $40m diaspora investment announced | The Express Tribune
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[ad_1] ISLAMABAD: The United States announced the mobilisation of more than $40 million in new US-Pakistani diaspora investment at the United States Agency for International Development (USAID) “Invest in Pakistan” conference on Saturday. Four diaspora partners concluded four new memoranda of understanding (MoUs) with USAID valuing at $44 million, increasing total diaspora commitments to nearly…
