Tribune
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Economic committee weighs belt-tightening measures | The Express Tribune
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[ad_1] ISLAMABAD: Amid significant risks to the official budget deficit target due to higher-than-budgeted spending on interest payments, a cabinet body on Tuesday discussed further tightening of the belt by slashing development spending, particularly expenses on provincial schemes. In the inaugural meeting of the Cabinet Committee for Economic Revival (CCoER), the interim Finance Minister, Dr…
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PSX drops by 850 points, rupee continues to slide | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market slumped on Tuesday along with record rupee depreciation, as domestic capital markets expect a further hike in the key policy rate by the central bank to control rising inflation. Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index dropped around 1.6%, or 850 points, to 46,625 points at about 2pm on…
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Severe shortage of sugar sparks ban on exports | The Express Tribune
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[ad_1] ISLAMABAD: The interim government, on Monday, directed for swift taken action to be taken to curb the smuggling of sugar after authorities revealed a stark reality: Pakistan’s sugar reserves have dwindled to a mere 2.3 million metric tonnes (MMT), insufficient to meet requirements before the onset of the next crushing season. This shortage has…
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How to reduce people’s misery in energy sector | The Express Tribune
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[ad_1] ISLAMABAD: It does not require any elaboration that people are suffering from high inflation, especially in the energy sector. There are both supply and pricing issues. It is also known that heavy currency devaluation and international commodity crisis in the context of Ukraine conflict have, in large part, contributed to these problems. The problems…
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LCOY marks historic milestone | The Express Tribune
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[ad_1] ISLAMABAD: Against a backdrop of climate-induced hardships that continue to grip the country, Pakistan witnessed a historic moment in climate activism as it hosted its first-ever Local Conference of Youth (LCOY) from August 24-25 at National University of Science and Technology, Islamabad. Organised under the ambit of YOUNGO, the official youth constituency of the…
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Financial globalisation and currency speculation | The Express Tribune
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[ad_1] LAHORE: Gone are the days when there was stability in the movement of the rupee vis-a-vis the dollar. The rupee value used to be stable till the 1980s. Financial globalisation brought volatility in the movement of the rupee. Pakistan followed the managed exchange rate regime for a long period of time and used to…
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Commerce minister urges exporters to achieve $80b target | The Express Tribune
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[ad_1] LAHORE: Caretaker Minister for Commerce and Industries Dr Gohar Ejaz has urged exporters to shift their focus to value-added products to meet the $80 billion export target needed to run Pakistan. Addressing the All Pakistan Textile Mills Association (APTAMA) on Saturday, the minister said that the country needs new reforms and $80b within 90 days. “We will…
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Fed and ECB reaffirm 2% inflation goal | The Express Tribune
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[ad_1] JACKSON HOLE: Any thoughts that the 2% inflation goal long sought by the US Federal Reserve and the European Central Bank (ECB) might possibly be in for a tweaking were dashed on Friday by the chiefs of the two institutions. Gathering in Jackson Hole, Wyoming for the annual Federal Reserve Bank of Kansas City…
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Govt to focus more on HR | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar has expressed the interim government’s resolve to focus more on rationalising expenditures, generating revenue and developing human resources during its short constitutional tenure. Talking to a delegation of students from Harvard University, the US, the PM said that only about 9% of the population in Pakistan was…
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Tariff hike sends industrial production cost soaring | The Express Tribune
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[ad_1] KARACHI: The exorbitant power tariff has increased the cost of industrial production by 25-30% in one go, causing anger among business community and triggering a new wave of inflation in the country. Talking to The Express Tribune, businessmen called the tariff hike counterproductive, which would render the industry, particularly the export industry, uncompetitive, dent…
