Tribune
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Body set up to run affairs of SIFC | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has approved the setting up of a company to run administrative affairs of the Special Investment Facilitation Council (SIFC) in a move aimed at cutting through the red tape to hire skilled manpower for putting the civil-military run council’s work on fast track. The prime minister gave the go-ahead…
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WAPDA adds 8,158MW hydel power to grid | The Express Tribune
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[ad_1] LAHORE: The Water and Power Development Authority (WAPDA) has crossed the 8000 MW mark in hydel electricity generation, contributing 8158 MW to the national grid during peak hours last night. This achievement comes on the heels of the recent resumption of power generation from the 969 MW-Neelum Jhelum Hydropower Project, further bolstering Pakistan’s energy…
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Another shock: Diesel may cost Rs24 more | The Express Tribune
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[ad_1] ISLAMABAD: Another oil shock is on the cards as the price of high-speed diesel is expected to be increased by Rs24 per litre effective from August 16, 2023, which will fuel a new wave of inflation that is already at significantly higher levels. As international oil prices surge, Pakistan may raise prices of petroleum…
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Experts share rewards and risks of new IMF programme | The Express Tribune
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[ad_1] ISLAMBAD: Pakistani experts are cautiously embracing the International Monetary Fund (IMF) programme, as the new $3 billion agreement offers immediate relief from the threat of default. However, independent analysts and stakeholders in Pakistan remain sceptical about the programme’s potential for large-scale impact and its political implications. While speaking to The Express Tribune, a representative…
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SECP records 25% rise in company registrations | The Express Tribune
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[ad_1] ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,220 new companies in July 2023, reflecting a substantial 25% increase from the previous year. The collective capitalisation for these newly registered entities amounted to Rs3.3 billion. The total count of registered companies in the nation has risen to an impressive 197,828, as…
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PSX jumps over 1,000 points | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) jumped up by 1,000 points to around 48,900 in the early trading hours on Friday. The market invited the outstanding renewed buying from investors after the global stock market index provider Morgan Stanley Capital International (MSCI) announced to add record 15 Pakistani listed companies into its MSCI Frontier Market…
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Govt doles out billions to MPs at its fag end | The Express Tribune
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[ad_1] The outgoing government of Prime Minister Shehbaz Sharif has spent 99% of the total public sector development spending during his last six weeks in power on the parliamentarians’ schemes by blocking expenditures on other critical projects. The details showed that since the start of the current fiscal year on July 1, the federal government…
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Remittances plummet to five-month low in July | The Express Tribune
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[ad_1] KARACHI: nificant setback as the inflow of workers’ remittances from overseas Pakistanis through official channels dropped to a five-month low of $2 billion in July. This decline has raised concerns about Pakistan’s ability to sustain import payments and manage maturing foreign debt obligations. The State Bank of Pakistan (SBP) reported a 19% decrease in…
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Tehran rejects Islamabad’s notice on IP gas royalties | The Express Tribune
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[ad_1] ISLAMABAD: Iran has refused to accept the force majeure notice served to it by Pakistan to suspend the work on the multibillion-dollar Iran-Pakistan (IP) gas pipeline project. Simply put, through the notice Pakistan had expressed its inability to pursue the project as long as the US sanctions on Iran remain in place or Washington…
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PIA may suffer Rs112b loss this year: CEO | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan International Airlines (PIA) CEO Air Vice Marshal Amir Hayat on Wednesday said the national carrier was expected to suffer a loss of Rs112 billion in the ongoing year. During a press briefing, the PIA CEO pointed out that the national carrier had sustained a total loss of Rs80 billion in 2022 because…
