The Khyber Pakhtunkhwa Rural Roads Development Project will upgrade around 900 kilometers of rural roads in the province that are susceptible to floods and are in poor condition, according to an ADB press release received here on Friday. These cover key routes that link remote communities to education, health care, and markets, it said adding […]
IMF’s Director of Communication, Julie Kozek, confirmed an Executive Board meeting scheduled on September 25 in a press briefing, adding that negotiations for a new $7 billion loan program were finalized back in July. On the other hand, the Finance Minister of Pakistan – Muhammad Aurangzeb – announced that all matters with the IMF have […]
The global slowdown in sales of electric vehicles (EVs), partly due to diverging policies on green incentives, has pushed automakers worldwide to adjust their EV plans. “The measure is necessary due to the current lack of orders linked to the deep difficulties experienced in the European electric (car) market by all producers, particularly the European […]
The central bank slashed the interest rate by two percent to 17.5% in the monetary policy announced today. The Monetary Policy Committee (MPC) of the central bank met today to fix the policy rate for the next one and a half months. Analysts were expecting that the committee will continue monetary easing between 150-200bps on […]
Al-Khorayef emphasized that Saudi Arabia will prioritize its interests and explore new opportunities, separating politics from commerce. The broader adoption of the “petroyuan” is seen as a significant step in the yuan’s internationalization, challenging the US dollar’s dominance in global commodity markets. China has been promoting the yuan’s use in international trade, including a currency […]
Sources said that the petrol and high-speed diesel prices are likely to be reduced by Rs12 per litre each while the rate of kerosene oil would be slashed by Rs8 per litre. The final decision regarding slash in petrol price will be made after observing fluctuation in the international market from September 12 to 14. […]
Brent crude futures for November were up $1, or 1.4% at $71.61 a barrel at 0632 GMT. U.S. crude futures for October were up 92 cents, or 1.4%, at $68.23 a barrel. Both contracts rose by more than 2% in the previous session as offshore platforms in the U.S. Gulf of Mexico were shut and […]
As per details, there is a possibility that the government may phase out lump sum hikes in pensions for retired public employees. The Finance Ministry has indicated that pensions could see an 80% increase to the inflation data of the last 2 years. The Pakistani government announced a 15% increase in pensions during the current […]
Progress on the TAPI pipeline — running through Turkmenistan, Afghanistan, Pakistan, and India — has been repeatedly delayed because of security issues in conflict-ravaged Afghanistan. “From today the operations will start on Afghanistan’s soil,” Taliban government spokesman Zabihullah Mujahid said at the ceremony in comments broadcast by Afghan state television. At the border ceremony in […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
