By Staff Reporter
KARACHI: The current account deficit surged to a 4-year high of $17.4 billion in the fiscal year of 2021-22 on soaring cost of energy imports, central bank’s data showed.
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Pakistan gets foreign loans of $22.5 billion in last fiscal
By Staff Reporter
ISLAMABAD: Pakistan borrowed $22.5 billion in the last fiscal year to plug the current account deficit and to pay back maturing debts.
Govt hikes electricity base prices by Rs7.91/unit to win IMF’s bailout
By Staff Reporter
ISLAMABAD: Electricity tariffs across Pakistan are expected to rise by Rs7.91 per unit in three phases to win an IMF bailout program, a regulator said on Friday.
Political situation factors big in credit ratings
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.
Remittances jump record 6.1 percent in 2021, help cushion rupee
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.
IMF to release $1.7 billion to Pakistan within six weeks
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.
Govt cuts rising fuel prices by a sliver
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.
Petrol pumps threaten shutdown over better margins
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.
A manufacturing facility at Heavy Electrical Complex (HEC), Hattar, Khyber-Pakhtunkhwa. Photo coutesey HEC official website.
Federal government picks up over PKR 20m in accumulated mark-up
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
Consumer Alert: Hefty gas price hike on cards
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.