Tribune
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Conditions for $10b refinery project met | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has taken a significant step towards commencing the construction of the $10 billion refinery in Balochistan by reaching an agreement with a Chinese company on Thursday, granting it the construction rights for the project. The Pakistan State Oil (PSO) inked a Memorandum of Understanding (MoU) with the Chinese company to secure the…
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Weekly inflation rises by 3.73% | The Express Tribune
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[ad_1] ISLAMABAD: Inflation in the last week surged by 3.73% brining the annual rate to a record high of 29.21%, according to the Pakistan Bureau of Statistics (PBS) on Thursday, highlighting the severity of the current economic situation in the country. The PBS report stated that within the last week, the prices of 20 key…
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China has rolled over $2.4b loans for two years: Dar | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar said on Thursday that China’s Export-Import (Exim) Bank rolled over $2.4 billion in loan payments for the next two years. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years,” he announced in a tweet.…
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US federal reseve raises interest rates | The Express Tribune
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[ad_1] WASHINGTON: The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest US central bank policy rate in 16 years. The rate hike, the Fed’s 11th in its last 12 meetings, set the benchmark overnight interest rate…
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NEPRA okays govt request for power tariff hike | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday approved the government’s request for increasing the basic electricity tariff by up to Rs7.5 per unit. According to a Nepra spokesperson, the notification of the decision had been sent to the federal government. The price hike has already been approved by the federal cabinet…
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Ease restrictions on profit repatriation: OICCI | The Express Tribune
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[ad_1] KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) expresses hope that the Pakistani government will gradually ease restrictions on profit margins and dividends repatriation by multinational companies (MNCs) to their headquarters abroad. The optimism stems from the recent approval of a new IMF loan programme of $3 billion, signalling progress for the…
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NTDC, AFD sign €180m agreement | The Express Tribune
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[ad_1] LAHORE: French Development Agency (AFD) and the National Transmission and Despatch Company Limited (NTDC) entered into a project agreement for provision of €180 million soft loan for construction of NTDC projects. In a ceremony held at the NTDC office in Islamabad, NTDC MD Dr Rana Abdul Jabbar Khan and AFD Country Director Philippe Steinmetz…
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Honda Atlas sees potential surge in car sales | The Express Tribune
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[ad_1] KARACHI: Honda Atlas Cars (Pakistan) Limited (HCAR) conducted a corporate briefing on Monday, revealing its financial performance during March Year (MY) 2023 and outlining its future strategies. Despite facing challenges in the past year, the company’s management remains optimistic about a potential surge in car sales, provided there are no restrictions on LCs imports.…
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Petroleum dealers, govt agree on margins after marathon talks | The Express Tribune
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[ad_1] KARACHI: After an intensive 7-hour negotiation session at PSO House in Karachi on Monday evening, the second round of talks between the Pakistan Petroleum Dealers Association and the government regarding margins on petroleum products has reached a successful conclusion. Sources close to the matter revealed that following mutual consent, the agreement has been officially…
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A precarious economic crisis and IMF’s reforms | The Express Tribune
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[ad_1] KARACHI: Pakistan is facing a severe economic crisis that has been exacerbated by the global energy crisis, the COVID-19 pandemic, and rising inflation. According to the finance division report, the country’s current account deficit, which measures the gap between its foreign earnings and spending, has widened to 6.4% of GDP in the first quarter…
