Tribune
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Govt considers currency hedging | The Express Tribune
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[ad_1] ISLAMABAD: Finance and Revenue Minister Shaukat Tarin has floated the idea of seeking support of commercial banks and international finance institutions for hedging against risk arising in the wake of rupee depreciation. The proposal came as the government wanted to reduce the foreign exchange risk to foreign-funded projects due to weakening of the rupee…
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Govt seeks to extend debt programme | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to seek the cabinet’s nod for an unlimited extension in its programme to raise debt from global capital markets, as the International Monetary Fund (IMF) has assessed Pakistan’s gross external financing needs at a record $35 billion in the next fiscal year. The Global Medium-Term Note Programme that the…
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Market watch: Stocks close in green amid thin trade | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange saw lacklustre activity on Friday but the benchmark KSE-100 index, after oscillating in a narrow band, managed to close in the green zone. Sceptical investors adopted a cautious approach amid corporate result announcements, mainly owing to the rising international coal prices, which kept the cement sector under pressure. On the…
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Oil prices gain after IEA says market tight | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Friday after the International Energy Agency (IEA) said oil markets were tight, but were still heading for weekly losses on inflation worries and US-Iran which could boost global supplies. Brent crude futures rose $1.01, or 1.1%, to $92.42 a barrel at 1203 GMT, while US West Texas Intermediate crude…
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112 BoI reforms for SEZs implemented, PM told | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Imran Khan said on Thursday incentivising the rapid industrialisation in the Special Economic Zones (SEZs) through massive investment was among the top government priorities, stressing that the government was focused on attracting maximum direct foreign investment (DFI). Chairing meetings to review progress on various development initiatives of the government, Imran said…
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Pakistan to start using Saudi oil facility from next month: Tarin | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Shaukat Tarin informed the Senate on Friday that Pakistan will start using the Saudi oil facility on deferred payments from next month. Last week, Pakistan and Saudi Arabia agreed to operationalise the kingdom’s oil facility at the earliest for which an agreement worth $1.2 billion for the import of petroleum products…
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Ex-FBR chief made ‘illegal’ refund payments of Rs16b, PAC told | The Express Tribune
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[ad_1] ISLAMABAD: The Public Accounts Committee (PAC) on Thursday was informed that payments of refunds worth Rs16 billion were “illegally” made during the tenure of former Federal Board of Revenue (FBR) chairman Shabbar Zaidi. The PAC met under the chairmanship of Rana Tanveer Hussain. During the review of the FBR audit paras, it was revealed…
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PARC for enhancing avocado farming | The Express Tribune
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[ad_1] ISLAMABAD: A number of crops are changing their places in Pakistan amid climate change, forcing Pakistan Agriculture Research Council (PARC) to fill the gap with climate-resilient crops and avocado plantation is part of the campaign, said PARC Programme Leader of Fruit Crops Dr Alam. Talking to APP on Thursday, he emphasised that PARC was…
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CDWP clears Rs273 billion KCR project | The Express Tribune
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[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) has cleared Karachi Circular Railway (KCR) as a modern urban railway project worth Rs273.1 billion and referred it to the Executive Committee of National Economic Council (Ecnec) for further consideration. In a meeting of the CDWP chaired by Planning Commission (PC) Deputy Chairman Jahanzeb Khan on Thursday,…
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Steel producers hike prices | The Express Tribune
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[ad_1] KARACHI: The flat steel producers of Pakistan have announced a hike in prices of the commodity owing to increase in rates at a global level. According to Topline Securities, a prominent steel sector player increased the rates of cold-rolled coils (CRC) and hot dipped galvanised coils (HDGC) by Rs3,000 per ton on Thursday. After…
