By Staff Reporter
ISLAMABAD: Pakistan’s economy will grow at a sluggish pace of 1.7 percent in the current fiscal year, as tight monetary and fiscal policies and political uncertainty weigh on domestic demand, the World Bank said in a report on Wednesday.
By Staff Reporter
ISLAMABAD: Pakistan is in talks with Saudi Arabia and the United Arab Emirates to secure additional oil and financial assistance to shore up its foreign exchange reserves ahead of a crucial IMF review and prepare for a general election next month.
By Staff Reporter
ISLAMABAD: The inflation edged higher in December, keeping up a year-long streak of soaring prices, but a retreat in core pressures could open the door for the central bank to loosen its grip on rates in the next policy meeting.
By Staff Reporter
KARACHI: The central bank said on Friday that the fiscal year 2023 was “extraordinarily challenging” as the country faced a host of shocks that pushed inflation to multi-decade highs and contracted the economy amid political uncertainty.
By Staff Reporter
ISLAMABAD: The trade sector posted a significant improvement in the first 20 days of December, with exports rising by 33.1 percent and imports falling by 12.8 percent year-on-year, the Ministry of Commerce said.
By Staff Reporter
KARACHI: The power regulator on Wednesday approved an increase in electricity tariffs for consumers across the country, including those of K-Electric Ltd., the main supplier in the largest city Karachi.
By Staff Reporter
KARACHI: The interim government cut gasoline and diesel prices by more than 4 percent for the second half of December, as global oil prices fell, and the local currency strengthened.
The Saudi energy giant’s entry into the Pakistani fuel retail market is a milestone for the company as well as the host country. By Muhammad Ali.
By Staff Reporter
KARACHI: Pakistan’s economy is poised to rebound from a contraction in the current fiscal year and expand 2.1 percent in 2024, aided by easing supply bottlenecks, lower interest rates, and continued support from the International Monetary Fund, according to a Bloomberg economist.
By Staff Reporter
ISLAMABAD: The power regulator on Tuesday increased electricity tariffs by 39 percent for October 2023 to recover Rs32 billion from consumers under a monthly fuel adjustment mechanism.
