By Staff Reporter
ISLAMABAD: The National Economic Council (NEC) on Tuesday approved an energy conservation plan that will require shops and commercial centers to close by 8pm starting from July 1.
Economy
ECC approves hike in prices of 49 medicines
By Naveed Naqvi
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday approved a hike in prices of 49 medicines, while also approving a grant of more than Rs21.95 billion for dealing with natural calamities and other projects.
Prime Minister Sharif hopeful of finalising IMF deal in June
By News Desk
ISLAMABAD: Prime Minister Shehbaz Sharif said he was hopeful of finalising a deal with the International Monetary Fund (IMF) in June, as the country grapples with a crippling economic crisis.
International airlines face $188 million in blocked funds in Pakistan
By Staff Reporter
ISLAMABAD: The International Air Transport Association (IATA) warned on Sunday that countries such as Pakistan have witnessed a rapid surge in the level of blocked funds, posing a significant threat to airline connectivity in affected markets.
Pakistan leases Roosevelt Hotel in New York City for $220 million
By Staff Reporter
ISLAMABAD: Pakistan International Airlines (PIA) has leased its Roosevelt Hotel in New York City to the New York City Administration for three years for $220 million, a minister said Sunday.
Pakistan targets 3.5 percent economic growth in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s economic outlook for the next year appears promising, with a growth target of 3.5 percent set amidst expectations of political stability, improvements in the external account, and a steadfast macroeconomic environment.
Pakistan will not default, says finance minister amid IMF stalemate
By Staff Reporter
ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar said on Saturday there was no technical reason for the delay in resuming a $6.5 billion International Monetary Fund (IMF) programme that has been stalled since November, and assured the country would not default on its debt obligations.
Illicit cigarettes make up half of Pakistan’s market, survey reveals
By Staff Reporter
ISLAMABAD: Nearly half of Pakistan’s cigarette market is dominated by illicit brands that evade taxes and sell below the minimum legal price, a survey by market research firm IPSOS showed on Friday.
Ogra approves gas price hike of up to 45pc for SNGPL, SSGCL
By Staff Reporter
ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Friday approved gas price hikes of 40 percent and 45 percent for consumers of Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL), respectively, for the fiscal year 2023-24.
Pakistan approves barter trade mechanism with Afghanistan, Iran, Russia
By Staff Reporter
ISLAMABAD: Pakistan has approved a barter trade mechanism with Afghanistan, Iran and Russia to boost trade and help the country’s struggling economy, the commerce ministry said on Friday.