Tribune
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‘Good news’ of completing next IMF tranche on the cards | The Express Tribune
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[ad_1] State Bank of Pakistan (SBP) Governor Reza Baqir on Monday said that the central bank is confident that it will soon announce the “good news” of completing the conditions required to obtain the next tranche of the International Monetary Fund (IMF). In an exclusive interview with Bloomberg, Baqir stated that it is “no surprise”…
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Economic, financial cost of political chaos | The Express Tribune
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[ad_1] KARACHI: People are queuing outside the heavily guarded Ceylon Petroleum Corporation’s petrol station in the busy district of Colombo as fuel shortage is hurting the Asian nation of Sri Lanka, which is reeling from the worst economic crisis amid political chaos that may trigger a civil war. The world was already struggling to recover…
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State Bank succumbs to reality | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has finally taken a much overdue and corrective decision by increasing the policy rate by a massive 250 basis points (bps) to 12.25%. To put this move into context, such a large jump has not been witnessed in the 21st century. Interestingly, the SBP has not given…
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Political and financial turmoil | The Express Tribune
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[ad_1] LAHORE: The economy is facing acute political instability. A series of political events/ surprises are aggravating economic uncertainty with every passing day. This set of circumstances lead to speculation in economic activities. When the writ of the state weakens, speculators and profiteers become dominant. If citizens raise questions about the prevailing high prices, they…
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Methane pledge: a major stimulus to biogas development | The Express Tribune
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[ad_1] ISLAMABAD: Biogas typically refers to gas produced by the biological breakdown of organic matter in the absence of oxygen (anaerobic digestion). Biogas offers highly cost-effective, renewable and decentralised energy for domestic and commercial consumers. Pakistan did try biogas production in the 1970s but it could not succeed due to the lack of user-friendly technology…
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Laws for economic management | The Express Tribune
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[ad_1] ISLAMABAD: After the landmark and watershed unanimous decision by the Supreme Court last week, which restored the National Assembly, the awareness about the constitution has gained more importance. It will be instructive to review our constitution to find the binding laws for economic management, which I consider a plausible basis for rules-based economic governance…
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China helps supply PV module to Pakistan | The Express Tribune
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[ad_1] BEIJING: Recently, C&D Clean Energy has announced a partnership with Integra Solar for panel supply chain services. According to a signed memorandum of understanding, C&D Clean Energy will provide Integra Pakistan with integrated supply chain services of 100MW solar modules in 2022. “Integra’s value concept is to write the earth’s green future by choosing…
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LCCI stresses on govt-private sector liaison | The Express Tribune
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[ad_1] LAHORE: The private sector is the engine of economic growth and its proposals must be a part of the federal budget 2022-23, said Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir. In a press conference on Saturday held to discuss the chamber’s budget proposals, he said that in developing countries, the…
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‘High interest rate will destroy economy’ | The Express Tribune
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[ad_1] KARACHI/ISLAMABAD: Business chambers are in a state of panic and shock as they are speculating on how to cope with the fallout of a surprise 250 basis points rise in the benchmark interest rate by the State Bank of Pakistan (SBP). In a statement on Saturday, Federation of Pakistan Chambers of Commerce and Industry…
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Sri Lanka seeking $3 billion to stave off crisis | The Express Tribune
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[ad_1] COLOMBO: Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on Saturday. The island nation of 22 million people has been hit by prolonged power cuts,…
