According to sources, the Ministry of Planning and the Ministry of Economic Affairs have completed their work for the current financial year, and the amount will be spent on flood recovery and rehabilitation and development projects. This funding is part of the international community’s efforts to support Pakistan in the aftermath of the catastrophic floods. […]
Pakistan last month reached a staff-level agreement with the IMF for a new $7 billion loan program. However, the South Asian nation reportedly needed financing commitments from bilateral donors to get a final nod from the IMF board for a fresh bailout. “Pakistan has secured commitments from China, Saudi Arabia, and the United Arab Emirates […]
According to China’s General Administration of Customs, overseas shipments expanded by 7.0 percent in the last month. That compares with the 8.6 percent increase recorded the month before and short of the 9.5 percent forecast in a Bloomberg survey of analysts. Beijing is seeking to achieve annual national growth of around five percent this year, […]
During the period from July-June, 2024, vegetable exports from the country grew by 43.20 percent as compared to the exports of the same period of the previous year, according to the data of the Pakistan Bureau of Statistics. Meanwhile, the exports of fruits grew by 21.31 percent as over 935,631 metric tons of fresh fruits […]
He was talking to a delegation led by Executive Vice President Oceania and South Asia PARCO, Mehmet Celepoglu who called on him here, said a press release. The delegation also included the CEO and co-founder of Gunvor Group, Torbjörn Törnqvist, a key investor in Pakistan’s oil sector. The Finance Minister highlighted the ongoing energy reforms, […]
The plunge marks a stunning reversal for the sector. Until recently, a wave of optimism was sparked by the approval of exchange-traded funds (ETFs) tied to the spot prices of bitcoin and ether, the two biggest cryptocurrencies. Republican presidential candidate Donald Trump’s pro-crypto speech at a bitcoin conference last month also bolstered sentiment, but data […]
Brent crude futures gained 97 cents, or 1.27%, to $77.27 a barrel by 0354 GMT, while U.S. West Texas Intermediate crude futures climbed $1.14, or 1.56%, to $74.08. On Monday, both benchmarks fell about 1% against a backdrop of falling global stock markets. Oil’s slide was limited by mounting concerns that Iran, a key Middle […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.3 and Rs 280.4 respectively. The price of the Euro increased by Rs 4.66 to close at Rs 305.48 against the last day’s closing of Rs 300.82, according to the State […]
The Kazakhstan-based producer Kaspi Neft “did not receive a (permit)… for accumulating over 4,500 tonnes of dangerous waste between 2021 and 2022 from drilling and operation of an oil field”, prosecutors for Kazakhstan’s Atyrau region bordering the Caspian Sea said in a statement released Monday. A court hearing Friday found that the company had committed […]
Ejaz in his statement suggested the government of Pakistan to halt Rs2,000 billion payment to the IPPs and they should only be paid for electricity produced. He also suggested lowering the electricity per unit and fixing it under Rs10 for the consumers using 200 units, monthly, while the rate for other consumers should be kept […]
