Tribune
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Cement sales decline by 17% | The Express Tribune
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[ad_1] LAHORE: Cement sales declined by 16.82% in November 2022 as total dispatches came in at 4.009 million tons against 4.820 million tons in the same month of last year. According to the data released by All Pakistan Cement Manufacturers Association (APCMA), local cement sales of the industry were 3.862 million tons in November 2022…
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Forex reserves drop by $327m to $7.49b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 4.17% on a week-on-week basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On November 25, the foreign currency reserves held by the SBP were recorded at $7,498.7 million, down by $327 million compared with $7,825.7 million…
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Margins, freight rates increased for OMCs | The Express Tribune
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[ad_1] ISLAMABAD: The government has increased margins and freight rates for oil marketing companies (OMCs) and the petroleum levy on high-speed diesel. In the latest oil price revision, the government has hiked the margins on petrol by Rs0.32 to Rs4 per litre. As far as diesel is concerned, the margins were jacked up by Rs1.32…
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Iqbal proposes forum to discuss private sector issues | The Express Tribune
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[ad_1] KARACHI: Federal Minister for Planning, Development and Strategic Initiatives Ahsan Iqbal has said that his ministry will constitute a forum to discuss the issues of the private sector. Speaking at the Karachi Chamber of Commerce and Industry (KCCI), Iqbal stated that he is “presenting an institutional solution for private sector companies by making a…
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Consumer price inflation slows to 23.8% | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s annual consumer price inflation slowed to 23.8% in November from 26.6% a month earlier, the statistics bureau said on Thursday, days after the central bank unexpectedly hiked policy rates. Prices were up 0.8% in November from the previous month, the Pakistan Bureau of Statistics said in a statement. Core inflation for urban…
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Govt gets less-than-targeted financing in T-bills auction | The Express Tribune
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[ad_1] KARACHI: The government borrowed on Wednesday a mere Rs215 billion from commercial banks against the target of Rs850 billion as the banks jacked up the lending rate significantly. The government acquired financing through the auction of three-, six- and 12-month T-bills. Cut-off yields (lending rates) on the papers increased by up to 129 basis…
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Petrol, diesel prices to ‘remain unchanged’ | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar announced on Wednesday that petrol and diesel prices would remain unchanged for the next fortnight — till December 15. In a televised address, the financial czar said the government has decided to slash the price of kerosene oil in view of cold weather as it is mainly used by lower-income…
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Germany to get new Qatari LNG flows | The Express Tribune
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[ad_1] Germany is set to receive new flows of Qatari liquefied natural gas (LNG) from 2026 after QatarEnergy and ConocoPhillips on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period. Since Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe in particular needing…
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Govt through tough decisions averted default risk: PM | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has said that Pakistan is out of risk of default due to difficult decisions taken by the coalition government. The premier said the government is taking all possible steps to further strengthen the national economy and is striving with priority measures to reduce price hikes and provide relief to…
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Pakistan gets $500m loan at 4.9% interest rate | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Tuesday received one of the most expensive loan tranches of $500 million by any multilateral creditor, as the cash-starved country also urged a Chinese commercial bank to refinance the maturing debt and review the possibility of giving more loans. The “AIIB (Asian Infrastructure Investment Bank) has transferred today, as per their…
