By Staff Reporter
ISLAMABAD: China has agreed to defer principal payments on loans worth $2.4 billion to Pakistan for two years, Finance Minister Ishaq Dar said on Thursday, a boost for the cash-strapped country as it tries to rebuild its foreign currency reserves.
By Staff Reporter
ISLAMABAD: Pakistan’s power regulator on Wednesday approved additional charges of up to Rs2.31 per unit for electricity consumers to cover the fuel cost adjustment (FCA) for June, a day after announcing a steep hike in base tariffs, Dawn newspaper reported on Thursday.
By Staff Reporter
ISLAMABAD: Pakistan’s fiscal deficit is expected to narrow to 5.5 percent of gross domestic product (GDP) in the fiscal year ending June 2024, from 7.9 percent a year earlier, as the government curbs non-interest spending and boosts revenue collection, the finance ministry said on Wednesday.
By Staff Reporter
ISLAMABAD: Pakistan’s parliament passed a bill on Wednesday to amend the country’s election law, giving more powers to the caretaker government that will oversee the next general election due in November.
By Staff Reporter
ISLAMABAD: The coalition government postponed its plan to grant sweeping powers to the caretaker administration for the upcoming elections, after facing stiff resistance from opposition and allied parties in a joint session of parliament on Tuesday.
By Staff Reporter
ISLAMABAD: Pakistan’s cabinet committee on economic affairs approved on Monday the allocation of 2.488 million metric tons of wheat from the state-run Pakistan Agricultural Storage and Services Corporation (PASSCO) to various agencies and provinces for the year 2023-24.
By Staff Reporter
ISLAMABAD: Pakistan has signed a framework agreement with Azerbaijan for liquefied natural gas (LNG) procurement on flexible terms, as part of its efforts to diversify its energy sources and meet its growing demand.
By Staff Reporter
ISLAMABAD: The U.S. urged Pakistan to continue working with the International Monetary Fund to address its economic challenges, saying there is no easy solution to its fiscal woes.
By Staff Reporter
ISLAMABAD: Pakistan’s electricity consumers will face the highest power bills in the country’s history from next month after the outgoing government of Prime Minister Shehbaz Sharif approved another massive hike in the base tariff on Saturday.
By Staff Reporter
KARACHI: Pakistan’s electricity generation costs fell to the lowest level in a year as cheaper coal and increased hydropower output offset lower demand amid high tariff and economic slowdown.
