Tribune
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Govt to wind up CPEC authority | The Express Tribune
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[ad_1] ISLAMABAD: The new government has decided to abolish the China-Pakistan Economic Corridor (CPEC) Authority amid disclosure that Chinese power producers have shut down 1,980 megawatts of production capacity due to non-clearance of their Rs300 billion dues. Planning Minister Ahsan Iqbal has passed instructions to the concerned officials to begin the process for abolishing the…
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Oil rebounds as supply concerns dominate | The Express Tribune
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[ad_1] LONDON: Oil prices rebounded on Wednesday as a drop in US oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from the previous session’s sharp losses. Brent crude futures rose $0.65, or 0.6%, to $107.90 a barrel by 1311 GMT. The front-month WTI crude futures contract, which expires on…
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Govt aims to bring economic stability | The Express Tribune
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[ad_1] ISLAMABAD: The year 2022 will see economic stability, development and public welfare under the leadership of Prime Minister Shehbaz Sharif, Minister of State for Finance Dr Aisha Ghaus Pasha remarked. Talking to a news channel on Wednesday, she underlined that political stability was important and necessary to mobilise Pakistan’s economy. “Once again, Pakistan will…
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Govt to end immunity for taxmen | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to withdraw blanket immunity that the taxmen had secured in the previous political regime to protect themselves from adverse actions after they shared personal tax information of high-profile public officials with investigation agencies. During any next legislative opportunity, the section 216 (T) of the Income Tax Ordinance will be…
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New finance minister faces uphill tasks, warns WB | The Express Tribune
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[ad_1] ISLAMABAD: The day Pakistan appointed its new finance minister to cope with the challenges – containing rising inflation and navigating through one of the worst external sector crisis, the World Bank on Tuesday reminded the country that 34% of its population was living on just $3.2 or Rs588 a day income. The Pakistan Development…
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Beijing vows support for SEZs | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is looking forward to further enhancing bilateral cooperation with China in various fields, said Federal Minister for Finance Miftah Ismail. During a meeting with Chinese embassy Charge d’affaires Pangchunxue at the Finance Division, Ismail highlighted the role of China-Pakistan Economic Corridor (CPEC). “The corridor will play an important role in taking Pakistan’s…
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Rupee continues to sink | The Express Tribune
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[ad_1] KARACHI: The rupee extended its fall and dropped Rs1.9 against the US dollar in the inter-bank market on Tuesday to close at Rs184.44 primarily due to uncertainty about talks with the International Monetary Fund (IMF). According to the State Bank of Pakistan (SBP), the rupee closed at Rs182.54 on Monday. “Rupee continues to fall…
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Another power tariff hike on the cards | The Express Tribune
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[ad_1] ISLAMABAD: Following a recent massive increase of Rs4.85 a unit in electricity tariff, the Central Power Purchasing Agency-Guarantee Limited (CPPA-G) has again sought a huge tariff hike on account of fuel cost adjustment (FCA) for March 2022. In a petition submitted to the National Electric Power Regulatory Authority (Nepra) on Tuesday, the CPPA-G proposed…
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FDI flow turns negative in March | The Express Tribune
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[ad_1] KARACHI: The multinational companies (MNCs) in Pakistan pulled out some of the investment in March mainly from the telecommunication sector as telecom companies, with their headquarters in China and Norway, made some payments to their parent companies from Islamabad. Besides, majority of MNCs working in multiple sectors of the economy in Pakistan held their…
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Oil slumps 5% after IMF slashes outlook | The Express Tribune
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[ad_1] HOUSTON: Oil prices tumbled 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation. Prices fell despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to…
