By Staff Reporter
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) said it hasn’t recommended any increase in gas tariffs for the current fiscal year, refuting media reports that a 41 percent hike was in the works.
Economy
Pakistan reopens key border crossing with Afghanistan, but visa row persists
By Staff Reporter
ISLAMABAD: Pakistan reopened a key border crossing with Afghanistan on Tuesday after a 10-day closure that had disrupted trade and strained ties between the two neighbours, but warned that the visa requirement for Afghan truck drivers would be enforced from April.
More than a quarter of Pakistan’s children are not in school
By Staff Reporter
ISLAMABAD: Pakistan is facing a daunting challenge in ensuring universal education for its children, as a new report revealed that more than 26 million of them are out of school, the highest number after Nigeria and India.
Pakistan agrees to raise gas tariffs, sugar tax to avoid revenue shortfall, says IMF
By Staff Reporter
ISLAMABAD: Pakistan has agreed to raise gas prices for the third time in a year and impose a hefty tax on sugar, among other measures, to meet the fiscal targets set by the International Monetary Fund (IMF), a report released by the lender said on Saturday.
Economy bounces back from dollar crunch, says finance minister
By Staff Reporter
KARACHI: The economy is on track to grow by 2-2.5 percent this fiscal year, rebounding from a dollar scarcity-induced contraction, as it benefits from an IMF-backed reform program and improved agricultural output, the finance minister said.
Pakistan, Dubai ink $3 billion rail, port, zone deals
By Staff Reporter
ISLAMABAD: Pakistan and Dubai signed two framework agreements on Thursday worth over $3 billion to cooperate in railways, ports, and economic zones, aiming to boost trade and investment between the two countries.
Pakistan receives $705 million IMF tranche, $2 billion UAE rollover
By Staff Reporter
KARACHI: Pakistan received a $705.6 million tranche from the International Monetary Fund (IMF) and a $2 billion rollover of deposits from the United Arab Emirates (UAE) on Wednesday, boosting its foreign exchange reserves that have been under pressure due to debt repayments and low inflows.
Current account surplus in December reverses six-month deficit streak
By Staff Reporter
KARACHI: Pakistan posted a current account surplus of $397 million in December, reversing five months of deficits, as exports rose and imports fell, the central bank said on Wednesday.
Petrol price cut by Rs8, diesel unchanged
By Staff Reporter
KARACHI: The caretaker government lowered the price of petrol by Rs8 per liter for the next two weeks, as the country grapples with a severe gas shortage that has disrupted power supplies and industries.
Pakistan’s economy improves, but needs more reforms to sustain recovery: IMF
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) said Pakistan’s economy has shown signs of improvement, with growth expected to reach 2 percent in the current fiscal year, but warned that inflation remains high and more reforms are needed to sustain the recovery.