Tribune
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Pakistan-Saudi Arabia talks on Reko Diq mining project near completion: Petroleum minister | The Express Tribune
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[ad_1] Pakistan is nearing the conclusion of negotiations with Saudi Arabia on the massive Reko Diq copper-gold mining project, one of the world’s largest untapped resources, according to Petroleum Minister Dr Musadik Malik. In a statement made on Wednesday, Dr Malik revealed that discussions with Saudi Arabia also include potential collaborations on water infrastructure projects,…
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OGRA swings into action to protect refineries | The Express Tribune
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[ad_1] ISLAMABAD: The fuel regulator has temporarily halted some oil marketing companies (OMCs) from importing High-Speed Diesel (HSD) to address concerns raised by oil refineries about an excessive stock of the fuel, which they warn “may lead to the collapse of the country’s supply chain.” In an emergency meeting on Wednesday, the Oil and Gas…
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IMF links bailout package to $12b debt rollover | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has demanded of the Pakistan government to get $12 billion loan rolled over by next week to secure the bailout package. Besides, the fund has also asked the country to meet the revenue shortfall in the month of September. According to finance ministry sources, the ministry held a…
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Aurangzeb meets foreign investors | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb met with a delegation of international investors, led by JP Morgan Pakistan CEO Amin Mohammad Khowaja, to explore fixed income investment opportunities in the country. According to a press release issued by the Finance Ministry, during the meeting, the minister highlighted the significant strides Pakistan has made in…
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Centre, provinces owe Rs2.56 trillion to DISCOs | The Express Tribune
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[ad_1] ISLAMABAD: The federal and provincial governments collectively owe more than Rs2.56 trillion in unpaid bills to the electricity Distribution Companies (DISCOs) across the country, official documents available with The Express Tribune revealed on Wednesday. There are 12 DISCOs across the country – Faisalabad Electric Supply Company (Fesco); Gujranwala Electric Power Company (Gepco); Hazara Electric…
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Not on IMF agenda, but Pakistan hopes to secure bailout | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Tuesday that the government was at the “advanced stages” of getting assurances about external financing but he again did not give a firm timeframe to conclude the pending $7 billion deal with the International Monetary Fund (IMF). The statement came the day the IMF released its executive…
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Govt introduces new pension scheme for all federal employees | The Express Tribune
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[ad_1] ISLAMABAD: The government has introduced a new contributory pension fund scheme for all federal government employees, according to an office memorandum issued by the Ministry of Finance on Tuesday, Express News reported. The memorandum states that the scheme will apply to all employees hired on a permanent basis from 1st July 2024 onwards. It…
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Finmin Aurangzeb outlines Pakistan’s path to sustainable economic growth | The Express Tribune
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[ad_1] Pakistan’s Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to steering the economy toward stability and sustainable growth. Speaking at a recent media briefing, Aurangzeb addressed the country’s ongoing economic challenges and the efforts being made to overcome them. He highlighted that despite the difficulties, significant progress has been made, particularly in terms…
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IMF pours cold water on Punjab’s cheap power plan | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has slapped Pakistan with a slew of new conditions regarding energy subsidies and provincial budgets after Punjab took a “fiscally reckless” decision to give Rs45 to Rs90 billion electricity subsidies for two months. Government sources told The Express Tribune on Monday that the global lender imposed at least…
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Salt exports set to surge as Bangladesh seeks alternatives | The Express Tribune
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[ad_1] KARACHI: Speculation among salt traders about a potential surge in salt exports to Bangladesh has intensified recently, driven by political developments in Bangladesh and environmental factors affecting salt production in India, the largest supplier to the Bangladeshi market. Industry insiders report a noticeable increase in quotation requests from Bangladeshi traders, largely due to Bangladesh’s…
