Gas prices soar in Pakistan as the government complies with IMF’s condition for reducing circular debt. The move will impact millions of people and businesses across the country, especially the non-protected domestic consumers who will face a 173 percent increase.
Energy
Minister warns gas crisis, urges shift to LPG
By Staff Reporter
KARACHI: Pakistan’s caretaker government on Thursday urged millions of households to switch to liquefied petroleum gas (LPG) as an alternative to pipe gas, which it said would be scarce and expensive in the next two years.
Pakistan’s economy shows early signs of recovery after IMF bailout, SBP says
By Staff Reporter
KARACHI: Pakistan’s economy, which contracted last year amid a balance of payment crisis, has started to show early signs of improvement as an International Monetary Fund (IMF) loan program offered some relief, the central bank said on Monday.
Pakistan pump prices cut by PKR 40/litre
The hefty price cut comes as a rare repeieve to the common Pakistani, grunting under the burden of near historic economic hardship. By Muhammad Ali.
Pakistan’s economy to grow faster than expected, IMF says
By Staff Reporter
ISLAMABAD Pakistan’s economy is on track to grow faster than previously forecasted by the International Monetary Fund, despite facing macroeconomic and security challenges.
Tax wealth from land and property, World Bank tells Pakistan
By Staff Reporter
ISLAMABAD: Pakistan should increase taxation of high-income earners, especially those who derive income from agriculture and property, and withdraw regressive tax exemptions, the World Bank said.
Cnergyico buys first private shipment of discounted Russian oil
By Staff Reporter
KARACHI: A Pakistani refiner has imported the country’s first private-sector shipment of Russian crude oil, taking advantage of Moscow’s discounts on its oil exports after its invasion of Ukraine.
Photo by Robert So: https://www.pexels.com/photo/electrical-wires-on-wooden-post-on-street-14019256/
Catch 22: Discos’ governors part of problem
Intent on pushing through the privatisation agenda laid down by the previous government, Pakistan’s caretaker government is weighing options to sack the governors of power distribution companies. By Staff Reporter.
Pakistan back in LNG market after year-long hiatus
By Staff Reporter
ISLAMABAD: Pakistan is back in the market for liquefied natural gas (LNG) after a year-long hiatus, as it tries to secure supplies for the winter season amid a global gas crunch.
Pakistan’s growth lags behind region as inflation soars, ADB says
ADB lowers Pakistan’s growth forecast to 1.9pc from 2pc, citing erratic rainfall and global price shocks. Inflation projected to rise to 25pc, the highest in Asia. The country’s economic recovery hinges on the IMF-supported adjustment program.