By Staff Reporter
ISLAMABAD: Imports fell by almost a quarter in July-November period of the current fiscal year of 2022-23 after a ban on non-essentials good, narrowing the trade gap by 30.14 percent to $14.4 billion, official data showed.
Energy
Headline inflation eases in November, core inflation up
By Staff Reporter
ISLAMABAD: Consumer price inflation slowed to 23.8 percent in November as aggressive policy tightening dampened demand, official data showed on Thursday.
Govt keeps domestic fuel prices unchanged
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif’s government on Wednesday decided to keep domestic prices of gasoline and diesel unchanged until December 15, finance minister Ishaq Dar said.
SBP surprises with 100bp rate hike to tame inflation, ready for more action
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Friday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first South Asian country to make such an aggressive hike in this economic cycle.
Dar says no chance of default, payments on time
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the government will fulfill its external debt commitments including the repayment of $1 billion sukuk bond that’s due on December 5.
Dar says US can’t stop Pakistan from purchasing Russian oil
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the United States cannot stop Pakistan from purchasing Russian oil and it will be possible to finalise a deal with Moscow very soon.
A view of the Thar Coal Block I (TCB-I) power generation facility at Thar, Sindh. Photo courtesy of TCB-I Facebook page (facebook.com/TharCoalBlockOne/).
Big saving 1,320 MW Thar power plant on tap soon
The 2×660 MW coalfired Thar Coal Block I power plant is estimated to cut Pakistan’s annual power bill by over a billion dollars, enabling cheaper power to the consumers. By Muhammad Ali.
October inflation jumps to 26.6pc as food and energy prices spiral
By Staff Reporter
ISLAMABAD: Inflation soared to 26.6 percent in October from a year earlier as food and energy prices spiraled, official figures revealed Tuesday, escalating the country’s cost-of-living crisis.
Power division gears up to deploy funds for Chinese IPPs to secure CPEC
By Staff Reporter
ISLAMABAD: The government has approved the setting up of the Pakistan Energy Revolving Fund (PERF) to repay outstanding dues worth Rs300 billion to Chinese Independent Power Producers (IPPs), a day ahead of Prime Minister Shehbaz Sharif’s scheduled visit to Beijing.
Govt keeps fuel prices unchanged
By Staff Reporter
ISLAMABAD: The government left domestic fuel prices unchanged on Monday at the second consecutive fortnightly review under an IMF-backed pricing mechanism that links energy prices to international markets.