Tribune
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Railways’ net deficit reached Rs3b | The Express Tribune
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[ad_1] ISLAMABAD: Minister of State for Law and Justice Shahadat Awan told the Senate on Tuesday that the Pakistan Railways generated Rs28.263 billion revenue, through its operation in the first half of the current fiscal year against the expenditures of Rs52.99. Responding to a question from Jamaat-e-Islami’s Mushtaq Ahmed, the minister said that 35% of…
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Crucial IMF talks hang in balance | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) suspects that Pakistan may not receive the projected $5 billion loans from multilateral and commercial creditors as Islamabad still awaits the Memorandum for Economic and Financial Policies (MEFP) draft with only two days left to conclude talks. The talks have reached a crucial phase where it can tilt…
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Power tariff hike gets PM’s nod to salvage IMF deal | The Express Tribune
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[ad_1] ISLAMABAD: With only three days left to end differences, Prime Minister Shehbaz Sharif on Monday gave a go-ahead to increase electricity prices aimed at striking a deal with the International Monetary Fund (IMF), which may further push the annual base tariff up by about 33%. The decision in principle was taken in a meeting…
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100MW more to be imported from Iran | The Express Tribune
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[ad_1] LAHORE: The National Transmission and Despatch Company Limited (NTDC) has completed the construction work on a 29 km long, double-circuit transmission line from Polan to Gwadar. According to NTDC, the work has been completed in compliance with the directives of Prime Minister Mian Muhammad Shehbaz Sharif and Federal Minister for Energy Engr Khurram Dastgir…
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Women mostly hold joint bank accounts | The Express Tribune
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[ad_1] KARACHI: Despite having almost equal male and female population in Pakistan, the use and access to bank accounts is dominated by men as a vast majority of financially marginalised women merely maintain joint bank accounts with their spouses. There are around 70 million active bank accounts maintained by men compared to 14 million by…
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PBC opposes MoF projections as ‘unrealistic’ | The Express Tribune
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[ad_1] Pakistan Business Council (PBC) has contradicted the Ministry of Finance’s projection that the balance of trade and remittances together will stand in surplus of $3 billion in the current fiscal year 2023. The projection is “unrealistic”, said Pakistan’s business policy advocacy platform of the largest private sector businesses, including multinationals on its official Twitter…
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Govt starts releasing consignments of pulses | The Express Tribune
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[ad_1] KARACHI: The process of releasing consignments of pulses stuck at the port has begun, which is expected to avert the risk of shortage of the commodity during the month of Ramazan and reduce their prices. Abdul Rauf Ibrahim, the chairman of Wholesale Grocers Association, told The Express Tribune that out of 7,000 containers of…
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Black Wednesday for Pakistani rupee | The Express Tribune
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[ad_1] KARACHI: Famous American writer and humourist Mark Twain once said, “History never repeats itself, but it does often rhyme.” However, the steepest rout for Pakistani rupee on Wednesday, January 25, carries many resemblances to the pound sterling crisis in the UK back on Wednesday, September 16, 1992, known in the history of financial markets…
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Govt assures IMF of amending NAO, FIA act | The Express Tribune
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[ad_1] In an International Monetary Fund (IMF)-conditioned review of Pakistan’s anti-corruption framework, the government has agreed to introduce more amendments to the National Accountability Ordinance and the Federal Investigation Act, revealed an interim official report. The report was submitted to the IMF as part of the global lender’s condition to conduct a comprehensive review of…
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Govt hints at withdrawing power subsidy for exporters | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have extended technical talks till Monday after gaps remained in their positions in areas of power, taxation and fiscal deficit but the authorities stood ready to slash all types of expenses and withdraw some unbudgeted subsidies. The Pakistani authorities also had to clarify their position in…
