Tribune
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Pakistan needs sustainable export led growth: Iqbal | The Express Tribune
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[ad_1] ISLAMABAD: “Pakistan desperately needs to take measures to bring the country’s economy out of crisis through sustainable export led economic growth,” said Minister for Planning and Development Ahsan Iqbal on Thursday. Addressing the closing ceremony of a two-day international conference on Productivity Accreditation and Certification, organised by National Productivity Organisation (NPO) on the occasion…
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Govt unveils power subsidy package for export industry | The Express Tribune
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[ad_1] The federal government has unveiled a relief package for the country’s export industry under which subsidised electricity is to be provided at Rs19.89 per unit. Addressing the media in Islamabad after holding talks with Pakistan Textile Exporters Association (PTEA) on Thursday, Finance Minister Ishaq Dar said all power distribution companies will provide electricity to…
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‘IMF should issue new reserves to help countries tackle crises’ | The Express Tribune
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[ad_1] WASHINGTON: The International Monetary Fund should issue $650 billion in new emergency reserves to help its member countries grapple with overlapping health, food, energy and inflation crises, 140 civil society groups said in a letter to the IMF’s board on Thursday. IMF officials in July said a fresh issuance of Special Drawing Rights (SDR)…
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ADB to provide up to $2.5b for Pakistan flood relief | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank will provide flood relief support to Pakistan to the tune of $2.3 to $2.5 billion including $1.5 billion for the BRACE programme which will be placed before the ADB board for approval this month. This was assured by the Country Director of Asian Development Bank Yong Ye who called…
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Sindh setting up two waste-to-energy plants | The Express Tribune
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[ad_1] KARACHI: The Sindh government has started work on setting up two waste-to-energy plants at an estimated cost of $250 million each and is targeting to produce electricity by the end of December 2023. The provincial government is facilitating two foreign companies – a Dutch and a US firm – for developing the projects in…
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Oil demand sinks by 22% to 1.5m tons | The Express Tribune
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[ad_1] KARACHI: The demand for petroleum products declined by a notable 22% to 1.52 million tons in September 2022, compared to the same month last year, as record-high prices and the cataclysmic floods restricted economic activities from resuming. Due to the floods inundating the fields, agricultural activities came to a standstill, reducing the sale of…
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IMF says policy commitments made by Pakistan continue to apply | The Express Tribune
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[ad_1] Listen to article The resident representative of the International Monetary Fund (IMF) said on Monday that policy commitments made by Pakistani authorities to resume the support programme continue to apply. “Policy commitments made by the Pakistani authorities as part of the Seventh and Eighth review under their IMF-support programme continue to apply,” IMF representative in Islamabad…
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Probability of currency crisis exceeds 50%, says Bloomberg report | The Express Tribune
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[ad_1] The odds of Pakistan facing a currency crisis surpassed 50% after devastating floods lashed the country, killing hundreds and displacing millions, a Bloomberg Economics risk model revealed on Tuesday. According to economist Ankur Shukla, the possibility of a currency crisis involving a large depreciation of the nominal exchange rate and extensive depletion of foreign-exchange…
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Oil jumps more than $3 | The Express Tribune
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[ad_1] LONDON: Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the Covid-19 pandemic. Brent crude futures rebounded $3.37, or 4%, to $88.51 a barrel by 1100…
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Telecom sector: navigating the dichotomy | The Express Tribune
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[ad_1] KARACHI: For almost two years, I’ve been advocating urgent policy interventions to help bridge the digital divide and enable the telecom industry in bringing connectivity at par with developed countries which, in turn, may also improve Pakistan’s low rankings in the global ICT indices. Even though all key stakeholders admit the current situation calls…
