By Staff Reporter
KARACHI: The National Electric Power Regulatory Authority (NEPRA) on Wednesday allowed distribution companies to levy a Rs2.83 per unit additional charge on consumers’ bills for May as part of fuel cost adjustment (FCA) charges.
top-economy
FBR’s move to block tax non-filers’ SIM cards illegal: telcos
By Staff Reporter
ISLAMABAD: The Cellular Mobile Operators (CMOs) have collectively denounced the Federal Board of Revenue’s (FBR) directive to block over half a million SIM cards, labeling the move as a breach of the Pakistan Telecommunication (Re-Organization) Act 1996 and an illegal action.
Inflation slows to lowest in nearly two years
By Staff Reporter
ISLAMABAD: The inflation rate slowed for the fourth straight month in April, easing to 17.34 percent from a year ago, as record borrowing costs curbed economic growth and domestic demand, data from the statistics office showed on Thursday.
SBP receives final tranche of $1.1 billion IMF loan
By Staff Reporter
KARACHI: The central bank said on Tuesday that it has received the final tranche of a $1.1 billion loan from the International Monetary Fund (IMF), concluding a critical $3 billion loan program that has helped Pakistan avert a sovereign default.
SBP keeps tight grip on rates to tame inflation
KARACHI: The State Bank of Pakistan left its interest rate at an all-time high of 22 percent for the seventh straight policy meeting on Monday, citing inflation risk amid geopolitical tension and macroeconomic stabilization measures.
IMF board to review Pakistan’s final $1.1 billion loan tranche on April 29
By Staff Reporter
ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board will meet on April 29 to finalise its last review of Pakistan’s $3 billion Stand-By Arrangement (SBA), despite the country’s absence from the Fund’s public calendar.
Pakistan to finalise PIA privatisation by July, Islamabad airport next in line
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Saturday that the process of privatising Pakistan International Airlines (PIA) will be finalized by the end of June or early July, with Islamabad airport potentially following suit shortly after, Dawn newspaper reported.
Pakistan eyes new, larger IMF loan deal in May
By Staff Reporter
ISLAMABAD: Pakistan is seeking a new loan from the International Monetary Fund (IMF) and hopes to agree on the contours of the deal in May, the country’s Finance Minister Muhammad Aurangzeb said in an interview with Reuters.
Saudi foreign minister commits to boosting economic ties with Pakistan
By Staff Reporter
ISLAMABAD: Saudi Foreign Minister Faisal bin Farhan Al Saud on Tuesday pledged to enhance economic collaboration with Pakistan, saying “very, very positive” investment-focused discussions were held during his recent visit to Islamabad.
Petrol hits Rs293.94/litre, diesel at Rs290.38
By Staff Reporter
ISLAMABAD: The government has raised fuel prices by 1.57 percent for petrol and 2.88 percent for high-speed diesel (HSD), effective until April 30, amidst fluctuations in the international oil market.