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Business
$10b Saudi investment to arrive soon
KARACHI, PAKISTAN:
Caretaker Federal Minister for Energy, Power and Petroleum Mohammad Ali has said that Pakistan is actively engaged with Saudi Arabia for potential investment of around $10 billion in the oil refining sector, believing…
MSCI trims Pakistan’s weight
KARACHI: Contrary to expectations, Pakistan’s weightage in the global stock market index has been slashed in the semi-annual review conducted by Morgan Stanley Capital International (MSCI), which might result in the withdrawal of some…
Govt allows LPG imports without inviting bids
ISLAMABAD: Despite facing criticism last year, the government is once again relying on liquefied petroleum gas (LPG) imports to address the emerging gas crisis. It has permitted a subsidiary of Sui Southern Gas Company (SSGC) to bring gas…
Troubled LSM industry records modest growth
ISLAMABAD: The output of big industries marginally increased by less than 1% during the first quarter of this fiscal year, as the industrial sector continuously suffered from high-interest rates and overall unfavourable business conditions.…
IMF seeks further power tariff hike
ISLAMABAD: Pakistan may have to further increase electricity prices and revise down its primary budget surplus of Rs417 billion for the first quarter after the International Monetary Fund (IMF) did not accept the government’s position on…
Exports to China soar
ISLAMABAD: Pakistan’s exports of goods and services to China experienced a remarkable surge, increasing by 26.42% during the first three months of the current fiscal year (2023-24) compared to the same period last year, according to the…
IT experts advocate for national payment system
KARACHI: In a convergence of opinion, IT experts in Pakistan have extended a warm welcome to global FinTech giants like PayPal and Stripe, while also advocating for the development of a robust national payment system to enhance connectivity…
Experts call for power sector reforms
LAHORE: discussion convened by the Lahore Economic Journalists Association (LEJA) titled ‘Increase in power tariffs - impact on consumers’ affordability, DISCOs recoveries, and circular debt’ brought together experts who emphasised the…
Current account deficit forecast cut by $2b
ISLAMABAD: Pakistan has told the International Monetary Fund (IMF) that its current account deficit may remain below $4.5 billion on the back of lower-than-projected imports – an assertion, if accepted, can significantly lessen Islamabad’s…
Weekly inflation sees uptick of 0.71%
KARACHI: The weekly inflation reading, measured through the Sensitive Price Indicator (SPI), increased by 0.71% due to an uptrend in food prices compared to the previous week, marking a reversal from the deceleration in essential…