According to the Fund’s website, the IMF schedule of the executive board meeting is set to be held on September 9, 13 and 18 but to take Pakistan’s 37-month Extended Fund Facility Arrangement (EFF) of about $7 billion on the agenda is not included. Pakistan and the IMF reached an agreement on the 37-month loan […]
West Texas Intermediate crude futures rose $1, or 1.48%, to $68.67 a barrel by 0146 GMT. Brent crude futures were up 99 cents, or 1.39%, at $72.05 a barrel. Analysts said the bounce was partly a reaction to a potential hurricane in the U.S. Gulf Coast. A weather system in the southwestern Gulf of Mexico […]
The decision aligns with Prime Minister Shehbaz Sharif’s directives to digitize government institutions and improve efficiency. The PAA’s ERP system, soon to be fully functional, will streamline processes, enhance data management, and promote a sustainable working environment. The PM’s e-office initiative aims to increase transparency and efficiency within the government. All government officers are required […]
The deal may end a two-month crisis sparked by reports that abuse by employers in Kuwait had driven several Filipinos to suicide. The Philippines stopped sending workers to Kuwait in January after a Filipino migrant worker was found dead in a freezer, the latest incident in what Manila called a pattern of abuse in the […]
At 10:16 a.m. ET (14:16 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 7.92 points, or 0.03%, at 22,980.36, and looked to register a weekly decline. US nonfarm payrolls increased less than expected in August, while the unemployment rate slipped to 4.2%, indicating an orderly labor market slowdown that does not warrant a […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.75 and Rs 280.25 respectively. The price of the Euro increased by 63 paise to close at Rs 309.58 against the last day’s closing of Rs 308.95, according to the State […]
According to sources, the import bill for RNLG (Re-gasified Liquefied Natural Gas) has surpassed Rs 506 billion, while Sui Northern Gas Pipelines Limited (SNGPL) owes PSO Rs 506 billion for LNG supply. The power sector’s dues have also crossed Rs 186 billion, adding to PSO’s financial woes. whereas, Pakistan International Airlines (PIA) owes PSO Rs […]
As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed a drop of 0.15 percent to 14 percent. During the week, out of 51 items, prices of 19 (33.33%) items increased, 13 (19.61%) items decreased and 19 (47.06%) items remained stable. The items […]
In a statement issued here on Thursday, the State Bank of Pakistan (SBP) informed that liquid foreign reserves held by the central bank increased by $33 million to $9,436.8 million during the week ending on August 30, 2024. Meanwhile, it added that net foreign reserves held by commercial banks were recorded as $5,303.1 million during […]
The decision comes after the country’s inflation rate dropped to a single digit, with the core inflation measured by the Consumer Price Index (CPI) reaching a 34-month low of 9.6% in August 2024. The price reduction, effective immediately, affects over 800 items, with decreases ranging from Rs8 to Rs200. The new prices apply to various […]
