Tribune
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Govt targets exporting manpower | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Overseas Pakistanis and Human Resource Development (OP & HRD) Sajid Hussain Turi on Tuesday said that the government is working to allocate a quota to Overseas Employment Promoters (OEPs) in order to increase manpower exports with a target of one million exports of manpower this year. Addressing the Islamabad Chamber…
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Loan projections shared with IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan still hopes to get a total of $32 billion in foreign funds in the current fiscal year, as it has largely kept unchanged its old projections, except for commercial loans and sovereign bonds, show new details shared with the International Monetary Fund (IMF). The estimates include budgetary loans of $23 billion, grants…
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Hammad flays govt for bad economics | The Express Tribune
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[ad_1] LAHORE: Slamming the federal government for its economic policies, (PTI) Pakistan Tehreek-e-Insaf leader Hammad Azhar on Monday said that the economy is deteriorating, and the dollar is not even available even at the existing rate. Addressing a press conference in Lahore, he said that LCs of spare parts have not been opened. He added…
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Forex crunch hits govt’s own transactions | The Express Tribune
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[ad_1] ISLAMABAD: A financial crunch and the paucity of dollars in government coffers is affecting the government’s own business, as the railways ministry complained on Monday of facing difficulties in opening the letter of credit for the import of carriages from China. The Senate Standing Committee on Railways was informed that the 46 passenger coaches…
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Govt approves import of 450,000 tonnes wheat from Russia | The Express Tribune
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[ad_1] ISLAMABAD: Finance ministry said on Monday it approved the import of 450,000 tonnes of wheat from Russia ahead of the next crop season, which might be delayed because of the impact of floods this year. The Russian wheat will be purchased on a government-to-government basis in the February to March period, the ministry said…
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Russia to provide fuel to Pakistan at discounted rates | The Express Tribune
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[ad_1] ISLAMABAD: State Minister for Petroleum Musadik Malik revealed on Monday that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates. Earlier this month, Finance Minister Ishaq Dar had indicated that Pakistan overcame the United States’ opposition to the purchase of Russian oil and stressed that Islamabad intended to…
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Govt to impose regulatory duty on imported edible oil | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to impose regulatory duty on imported edible oil in a bid to promote self-sufficiency at the local level and boost exports. According to sources inside the Ministry of Food Security, sunflower and canola will be cultivated on 600,000 acres at the local level, and local production will be protected…
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Pakistan’s borrowing options shrink | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s borrowing options have remained limited after the international credit rating agencies downgraded its outlook to negative and debt rating to junk status, experts discussed in talk show The Review on Saturday. Anchorperson Shahbaz Rana said that the situation had increased the country’s borrowing cost in addition to virtually closing the doors to…
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US shale oil output feared to decline | The Express Tribune
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[ad_1] NEW YORK: US shale oil drillers turned from scrappy wildcatters into multi-millionaires over the past two decades, propelling the United States to become the world’s largest producer, but now they are running out of runway. Oil output gains are slowing and executives from some of the largest firms are warning of future declines from…
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Pakistan repays $1b Sukuk, dismisses perception of default | The Express Tribune
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[ad_1] KARACHI: Pakistan has successfully made a repayment of $1 billion against a matured international Sukuk (Shariah-compliant bond) three days ahead of schedule on Friday, December 2, dismissing the perception of its default on the payment. As per the actual schedule, the country was to return the maturing investment in the US dollar-denominated global bond…
