By Staff Reporter
ISLAMABAD: While the economic repercussions of Pakistan’s developing political situation are yet to materialise, recent reports from two of the world’s top credit rating agencies show how the country’s internal politics figures in their calculus.
By Staff Reporter
KARACHI: Money sent home by Pakistanis living abroad rose 6.1 percent in the last fiscal year of 2021-22 to $31.2 billion, the central bank said on Monday, setting a new annual record and cushioning the weakening rupee.
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) said two tranches under bailout facility, totalling $1.7 billion, are expected to release to Pakistan within six weeks on approval from its board.
By Staff Reporter
ISLAMABAD: The government on Thursday cut fuel prices to give relief to inflation-hit consumers as global oil prices fall, the prime minister said.
By Naveed Naqvi
ISLAMABAD: Pressing for better margins on retail sale of fossil fuels, the Pakistan Petroleum Dealers Association (PPDA) has threatened to close petrol pumps across the country in protest from July 18.
The expense concerns a failed bid to privatise the Heavy Electrical Complex (HEC), a unit of Pakistan’s State Engineering Corporation. By Aoun Hussain ISLAMABAD: The
By Staff Reporter
ISLAMABAD: Households and businesses will alike see their fuel bills swell if Prime Minister Shehbaz Sharif okays a proposal to hike gas prices for both households and industries.
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Thursday raised borrowing costs by 125 basis points to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund (IMF).
By Ahmer Kureishi
June, the final month of the last fiscal year saw wholesale inflation in Pakistan rise to a historic high of 38.9 percent per annum, giving rise to fears that the flood of consumer price inflation is about to turn into a tsunami. Already at this point, the consumer price index was at 21.32 percent per annum.
By Staff Reporter
ISLAMABAD: The Federal Cabinet is yet to give a go-ahead to phasing in a power tariff hike of Rs7.92/unit as committed with the IMF, which might have consequences for the bailout pogramme, it is learnt.
