Tribune
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Default probability not strong: Fitch | The Express Tribune
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[ad_1] KARACHI: Fitch Ratings has affirmed Pakistan’s long-term foreign currency issuer default rating (IDR) at ‘CCC’, indicating that there is a possibility of foreign debt default but the probability is not yet strong. The global ratings agency affirmed the rating after the International Monetary Fund (IMF) completed its first review under the $3 billion loan…
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Key agreements with KE delayed amidst cabinet objections | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan, on Wednesday, deferred the approvals of four key agreements between the government and K-Electric, the country’s largest integrated power distribution company. This decision arose due to objections raised by some members of a cabinet body during a meeting of the Economic Coordination Committee of the Cabinet. The drafts under discussion included the…
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FM pushes privatisation of state insurers | The Express Tribune
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[ad_1] KARACHI: Caretaker Finance Minister Dr Shamshad Akhtar has advised privatising state-owned insurance companies like the State Life Insurance Corporation of Pakistan (SLIC) to reduce public sector dominance, attract foreign investment, and provide a level playing field to the private sector to lift insurance penetration, which remains at less than 1% in Pakistan at present.…
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Fitch affirms Pakistan’s rating at ‘CCC’ with stable outlook | The Express Tribune
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[ad_1] In its recent assessment, US-based credit rating agency Fitch Ratings has chosen to affirm Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC’. Despite some improvements and a successful review of its Stand-by Arrangement (SBA) with the International Monetary Fund (IMF), Pakistan continues to grapple with high external funding risks and faces challenges in…
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FBR resists restructuring efforts | The Express Tribune
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[ad_1] ISLAMABAD: The interim government’s attempt to restructure the tax machinery again has encountered a stumbling block after the Federal Board of Revenue (FBR) took a position that tax policy formulation cannot be transferred to any other department without new legislation. Sources informed The Express Tribune that the FBR has sought guidelines from the Ministry…
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Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune
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[ad_1] KARACHI: Saudi Arabia’s Aramco Tuesday signed an agreement to acquire a 40% equity stake in a Pakistani gas and oil company, said a statement from the Saudi company. Aramco Executive Vice President of Products & Customers Yasser Mufti, Chief Executive Officer of Lahore-based Gas & Oil Pakistan Ltd. (GO) Khalid Riaz signed the agreement.…
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SBP holds key rate at 22% for fourth straight meeting | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, Pakistan’s central bank on Tuesday left its key policy rate unchanged at a record high of 22% ahead of the International Monetary Fund (IMF) board’s potential approval for the release of the next loan tranche of $700 million to the country in January 2024. This was the fourth…
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Metro Bus Authority warned over wage law violation | The Express Tribune
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[ad_1] RAWALPINDI: As the law enforcers go after those violating the minimum wage law, it has turned out that the Metro Bus Authority was also guilty of violating the law by paying its employees less than Rs32,000 – the amount set as the minimum wage by the government. In this regard, the Punjab Labour Welfare…
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Economic revival, CPEC and Agenda 2047 – II | The Express Tribune
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[ad_1] ISLAMABAD: The ruling elite will have to realise that without overhauling its governance system and business environment, it can neither revive the economy nor achieve the goals of Agenda 2047. Thus, whether they like it or not, things will have to undergo drastic changes. After analysing the ground realities and setting targets, we have…
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Biogas from fodder (Napier) grass | The Express Tribune
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[ad_1] ISLAMABAD: We are passing through difficult times in terms of energy supply and prices. Energy supply is decreasing and international energy prices are increasing. It has become vital for us to look for and discover as many energy resources as possible. Also climate change issues are requiring the development of renewable energy sources and…
