By Staff Reporter
KARACHI: Remittances increased to a seven-month high of $2.5 billion in October, up 12 percent from the previous month and 10 percent from a year ago, as migrant workers sent more money home through legal banking channels, central bank data showed on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s caretaker prime minister said his government hopes to conclude a deal by December for Saudi Arabia to buy stakes in one of the world’s biggest gold and copper mining projects, as the kingdom seeks to diversify its economy and secure supplies of key metals.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has cast doubt on Pakistan’s ability to meet its ambitious tax collection goal for the current fiscal year, as lower imports and legal challenges pose risks to revenue growth, officials said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) began the first review of a $3 billion bailout package on Thursday, with both sides expressing early satisfaction over the country’s progress in meeting the fiscal and monetary targets set by the lender.
By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 26.9 percent in October, the lowest level in 10 months, as food and fuel prices dropped sharply, official data showed on Wednesday.
By Staff Reporter
KARACHI: Shell Petroleum Company Limited (SPCo), the parent company of Shell Pakistan Limited (SPL), has agreed to sell its domestic operations to Saudi Arabia’s Wafi Energy LLC, a fuel retailer, for an undisclosed amount, the companies said on Wednesday.
By Staff Reporter
ISLAMABAD: The caretaker government decided to keep the prices of petrol and high-speed diesel unchanged for the first half of November, a day after it raised the tariffs on natural gas for most consumers and industries.
By Staff Reporter
KARACHI: WAFI Energy LLC, one of the leading fuel station companies in Saudi Arabia, has announced its intention to acquire up to 77.42 percent shares and control of Shell Pakistan Limited (SHEL), a subsidiary of the global oil giant Shell Plc.
By Staff Reporter
ISLAMABAD: The Finance Ministry said on Tuesday it expects the economy to remain positive in the current fiscal year, as it projected a decline in inflation and a rise in growth ahead of talks with the International Monetary Fund (IMF).
By Staff Reporter
ISLAMABAD: The caretaker cabinet on Monday approved amendments to the existing rules for government securities, aiming to enhance the efficiency and flexibility of the market and attract more investors.
