By Staff Reporter
ISLAMABAD: Pakistan’s Senate passed a bill on Wednesday to establish a state-owned sovereign wealth fund that aims to stabilize the country’s economy through diversification and to generate wealth for future generations.
Economy
Inflation dips for second month in July
By Staff Reporter
ISLAMABAD: Pakistan’s inflation eased for a second month in July as food and fuel prices stabilized, giving some breathing space to the central bank that has been battling soaring price pressures and a weak currency.
Exports, imports fall double digits in July
By Staff Reporter
ISLAMABAD: Pakistan’s exports and imports both fell more than 12 percent in July, the first month of the new fiscal year, as the country faced a dollar crunch and a slowdown in imports of non essentials goods, official data showed on Tuesday.
Fuel prices soar by 8pc as Sharif’s coalition bows to IMF pressure
By Staff Reporter
ISLAMABAD: The government on Tuesday raised the prices of petrol and diesel by almost 20 rupees per liter or 8 percent, the biggest increase in more than a year, citing a surge in global oil prices and pressure from the International Monetary Fund (IMF) to increase revenues.
SBP holds rate at 22 percent, sees inflation easing
By Staff Reporter
KARACHI: Pakistan’s central bank kept its policy rate unchanged at 22 percent on Monday, saying it expected inflation to ease in the coming months after securing a $3 billion bailout from the International Monetary Fund (IMF).
Pakistan, China ink six deals to boost cooperation on CPEC anniversary
By Staff Reporter
ISLAMABAD: Pakistan and China signed six agreements and memorandums of understanding on Monday to enhance bilateral cooperation in various fields, including trade, investment, infrastructure, and industrial development, Prime Minister Shehbaz Sharif said.
OGDCL boosts oil and gas output from four Sindh wells
By Staff Reporter
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas explorer, said on Monday it had increased its oil and gas production from four wells in Sindh province using cutting-edge technologies.
PM Sharif rules out finance minister Dar as caretaker leader
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday dismissed speculation that his finance minister would become the caretaker leader ahead of general elections, saying a neutral person would be chosen to ensure a fair vote.
Pakistan welcomes Chinese vice premier for CPEC anniversary
By Staff Reporter
ISLAMABAD: China’s vice premier, He Lifeng, will arrive in Pakistan on Sunday for a three-day visit to mark the 10th anniversary of a major economic and strategic partnership between the two countries, the Pakistani foreign office said on Saturday.
No default risk in 2019, says PTI’s Umar
By Staff Reporter
ISLAMABAD: Former finance minister Asad Umar on Friday rejected claims by an ex-tax chief that the previous government of Imran Khan was on the verge of defaulting on its debt in 2019.