By Staff Reporter
ISLAMABAD: The National Economic Council (NEC) on Tuesday approved an energy conservation plan that will require shops and commercial centers to close by 8pm starting from July 1.
Energy
Pakistan targets 3.5 percent economic growth in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s economic outlook for the next year appears promising, with a growth target of 3.5 percent set amidst expectations of political stability, improvements in the external account, and a steadfast macroeconomic environment.
Ogra approves gas price hike of up to 45pc for SNGPL, SSGCL
By Staff Reporter
ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Friday approved gas price hikes of 40 percent and 45 percent for consumers of Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL), respectively, for the fiscal year 2023-24.
Pakistan approves barter trade mechanism with Afghanistan, Iran, Russia
By Staff Reporter
ISLAMABAD: Pakistan has approved a barter trade mechanism with Afghanistan, Iran and Russia to boost trade and help the country’s struggling economy, the commerce ministry said on Friday.
Pakistan’s inflation fastest in Asia for second month
By Staff Reporter
ISLAMABAD: Pakistan’s inflation hit another record high in May, making it Asia’s fastest for a second month, just days before the next fiscal budget is due to be unveiled in a country facing unprecedented economic challenges.
Petrol price drops by Rs8/liter as Pakistan battles record inflation
By Staff Reporter
ISLAMABAD: Pakistan cut petrol prices by Rs8 per liter on Wednesday, its second reduction in two weeks, to ease inflation that hit a 59-year high in April after an IMF-backed hike in fuel and energy tariffs.
Inflation defies efforts of monetary tightening
By Staff Reporter
ISLAMABAD: Inflation is poised to maintain its upward trajectory, defying efforts of monetary tightening, primarily driven by the depreciation of the rupee and a range of challenges arising from the unpredictable external and domestic economic landscape, the finance ministry said on Tuesday.
Growth nosedives to lowest levels in history as economic, political woes deepen
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth slowed sharply to one of the lowest levels in its history, as its woes intensify amid record inflation and interest rates, along with an intense political crisis in the country.
PM Sharif says Pakistan, Iran close to signing free trade deal
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said on Thursday that the country is nearing the finalization of a free trade agreement with Iran, aiming to fortify economic ties between the two nations, the state-run Associated Press of Pakistan (APP) reported.
Current account posts surplus for second consecutive month
By Staff Reporter
KARACHI: Pakistan’s current account has achieved a surplus for the second consecutive month, resulting in a substantial reduction of the 10-month deficit by 76 percent year-on-year, the central bank data showed on Tuesday.