Tribune
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Govt jacks up power tariff by Rs4.8, maintains fuel prices | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Friday turned down proposed increase in fuel prices up to Rs51 per litre effective from April 16, 2022. Oil and Gas Regulatory Authority (Ogra) had proposed increase in price of diesel by Rs51.32 per litre (35.7%), petrol Rs21.30 per litre (14.2%), kerosene oil Rs36.03 per litre (28.7%) and…
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NEPRA raises power tariff by Rs4.8 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday raised the power tariff by Rs4.8 per unit on account of fuel adjustment for the month of February. The CPPA-G had requested the power regulator to allow an increase of Rs4.9441 per unit to burden the power consumers with an impact of Rs38.4 billion.…
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Market watch: Stocks advance on macroeconomic cues | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange managed to post decent gains on Friday, as the benchmark KSE-100 index, after staying in positive territory throughout the day, added 117 points to close the week on a positive note. News reports about remittances hitting an all-time high at $2.8 billion in March 2022 were widely cheered by…
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Shehbaz green-lights team to engage with IMF | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has given a go ahead to his economic team to engage with the International Monetary Fund, as the new government grapples with the question regarding the timing of withdrawing the fiscally unsustainable fuel subsidies. The Ministry of Finance on Thursday briefed the premier about the country’s weakening external sector…
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Argentina annual inflation hits 55% | The Express Tribune
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[ad_1] BUENOS AIRES: Argentina’s monthly inflation rate soared to 6.7% in March, the government said on Wednesday, far above forecasts and the highest level in two decades as spiraling food and fuel prices dent the value of salaries and savings. The Indec statistics agency said the annual inflation rate hit 55.1% in the month, above…
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Crises slowing economic growth worldwide: IMF | The Express Tribune
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[ad_1] WASHINGTON: The war in Ukraine has undercut the global recovery, slowing expected economic growth in most countries in the world, IMF Managing Director Kristalina Georgieva said on Thursday. Beyond the humanitarian tragedy and economic crises, the war has exposed fractures in the international system at a time when global cooperation is the only solution,…
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LPG sector demands swift restart of JJVL plant | The Express Tribune
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[ad_1] ISLAMABAD: Stakeholders from the liquefied petroleum gas (LPG) sector have urged the newly elected prime minister to resume operations of Jamshoro Joint Venture Limited (JJVL) LPG plant in order to meet the domestic gas demand. In a letter to Prime Minister Shehbaz Sharif, LPG Industries Association Chairman Irfan Khokhar demanded the prompt restoration of…
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SBP reserves fall $470m to $10.85 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 4.15% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 8, the foreign currency reserves held by the SBP were recorded at $10,849.6 million, down $470 million compared with $11,319.2 million on April…
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Banks approve housing finance amounting to Rs180 billion | The Express Tribune
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[ad_1] KARACHI: Banks have shown strong progress in approving and disbursing financing under the ‘Mera Pakistan Mera Ghar’ (MPMG) scheme against the huge number of applications lodged by potential borrowers to avail housing finance. As of April 11 (2022), banks received applications for housing finance amounting to Rs409 billion, which was merely Rs57 billion a…
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Remittances hit all-time high | The Express Tribune
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[ad_1] KARACHI: The inflow of workers’ remittances soared beyond market expectations and hit an all-time high at $2.8 billion in March, extending much-needed support to foreign exchange reserves and the rupee value against the US dollar. “These are the highest-ever monthly workers’ remittances,” Pakistan’s central bank announced on Thursday. Cumulatively, the remittances rose to $23…
