By Staff Reporter
ISLAMABAD: Pakistan’s interim government is seeking to extend the maturity of deposits from other countries that are due to expire soon, as it tries to manage its dwindling foreign exchange reserves and revive the economy.
top-economy
Inflation rate drops for third month, defying price hikes
By Staff Reporter ISLAMABAD: Pakistan’s inflation rate fell for the third straight month in August, reaching its lowest level since January, official data showed on
Rupee collapse spurs record fuel price hike
By Staff Reporter
ISLAMABAD: The caretaker government raised the prices of petrol and diesel by up to 6.3 percent on Thursday, citing a surge in global oil prices and a weak rupee that pushed the cost of fuel beyond 300 rupees per litre for the first time in history.
Caretaker government seeks IMF approval for power bill relief
By Staff Reporter
ISLAMABAD: Interim government is in talks with the International Monetary Fund (IMF) to secure its consent for a package of relief measures for electricity consumers, who have been hit hard by a sharp hike in power tariffs.
Pakistan needs finance ministry oversight for state firms, IMF Says
By Staff Reporter
ISLAMABAD: Pakistan needs to keep all its state-owned enterprises under the oversight of the finance ministry as part of the reform process agreed with the International Monetary Fund, the fund’s representative in the country said.
IMF-backed power tariff hike to hit consumers after September
By Staff Reporter
ISLAMABAD: Electricity consumers are facing a double whammy of rising costs and declining demand, as the government seeks to stagger the imposition of a hefty quarterly tariff adjustment to ease the price shock.
Pakistan sets up sovereign wealth fund to boost economy, save for future
By Staff Reporter
ISLAMABAD: Pakistan’s Senate passed a bill on Wednesday to establish a state-owned sovereign wealth fund that aims to stabilize the country’s economy through diversification and to generate wealth for future generations.
Inflation dips for second month in July
By Staff Reporter
ISLAMABAD: Pakistan’s inflation eased for a second month in July as food and fuel prices stabilized, giving some breathing space to the central bank that has been battling soaring price pressures and a weak currency.
Exports, imports fall double digits in July
By Staff Reporter
ISLAMABAD: Pakistan’s exports and imports both fell more than 12 percent in July, the first month of the new fiscal year, as the country faced a dollar crunch and a slowdown in imports of non essentials goods, official data showed on Tuesday.
Fuel prices soar by 8pc as Sharif’s coalition bows to IMF pressure
By Staff Reporter
ISLAMABAD: The government on Tuesday raised the prices of petrol and diesel by almost 20 rupees per liter or 8 percent, the biggest increase in more than a year, citing a surge in global oil prices and pressure from the International Monetary Fund (IMF) to increase revenues.