By Staff Reporter
ISLAMABAD: Caretaker government said on Friday it will increase gas prices for all consumers, a move that could add to the economic hardship of millions of people and stoke inflation that’s already near 30 percent.
Economy
Pakistan looks to delay repayment of foreign deposits to ease reserve pressure
By Staff Reporter
ISLAMABAD: Pakistan’s interim government is seeking to extend the maturity of deposits from other countries that are due to expire soon, as it tries to manage its dwindling foreign exchange reserves and revive the economy.
Source: @StateBank_Pak
Why the rupee’s newfound stability solves nothing
There remains no doubt that black market forces are playing havoc with the Pakistani rupee. The government must keep the holes plugged – and work with the IMF to correct the exchange rate mechanism. By Muhammad Ali.
Photo courtesy Riik@mctr via Flickr.
Source: flickr.com/photos/riikkeary/
Will PIA privatisation devolve into a fire sale?
The national flag carrier’s SOS request for a new cash injection to keep it afloat ahead of its scheduled privatisation has been declined, raising the spectre of the state owned enterprise shutting down before it can be privatised. By Muhammad Ali.
Watching sugar crisis, poised to act if necessary, says Competition watchdog
With sugar prices across the country sprialling into the stratosphere without any apparent reason, the CCP says it is on its toes to fulfil its statutory role. By Muhammad Ali.
US companies invited to invest via Pakistan’s SIFC
The invitation came as Minister for Commerce Dr. Gohar Ejaz and Ambassador Blome ne to discuss promotion of bilateral trade and investment. By Muhammad Ali.
Strawberry beside spoon of sugar. Photo by Mali Maeder via pexels.com
No plan to import sugar as stocks adequate
With sugar prices already sky-high, rumours of a plan to import expensive sugar from abroad could be the work of unscrupulous elements manipulating the market to further hike prices. By Muhammad Ali.
Inflation rate drops for third month, defying price hikes
By Staff Reporter ISLAMABAD: Pakistan’s inflation rate fell for the third straight month in August, reaching its lowest level since January, official data showed on
Rupee collapse spurs record fuel price hike
By Staff Reporter
ISLAMABAD: The caretaker government raised the prices of petrol and diesel by up to 6.3 percent on Thursday, citing a surge in global oil prices and a weak rupee that pushed the cost of fuel beyond 300 rupees per litre for the first time in history.
PM Kakar seeks IMF nod for power bill relief amid protests
By Staff Reporter
ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar said Thursday his government was working on options to tackle the issue of inflated power bills without deviating from its agreements with multilateral institutions, amid widespread protests and public anger over the soaring electricity tariffs.