By Staff Reporter
KARACHI Pakistan’s fragile coalition government is all set to cut fuel prices, a move likely to ensure, for now, much needed political popularity at the cost of vital economic reforms.
Economy
A manufacturing facility at Heavy Electrical Complex (HEC), Hattar, Khyber-Pakhtunkhwa. Photo coutesey HEC official website.
Federal government picks up over PKR 20m in accumulated mark-up
The expense concerns a failed bid to privatise the Heavy Electrical Complex (HEC), a unit of Pakistan’s State Engineering Corporation. By Aoun Hussain ISLAMABAD: The
Is PM Sharif dithering in the face of tough calls?
By Staff Reporter
ISLAMABAD: All levels of his government routinely underscore the need for “tough decisions to save the economy”, but Prime Minister Shehbaz Sharif seems to be dithering in the face of an imperative to raise energy prices.
Pakistan central bank is ahead of the curve, acting Governor says
Monitoring Desk
KARACHI: State Bank of Pakistan Acting Governor Murtaza Syed discussed monetary policy and the outlook for the economy. The central bank on Thursday raised borrowing costs more than expected to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund. Syed speaks on “Bloomberg Markets: Asia.” (Courtesy: Bloomberg)
Consumer Alert: Hefty gas price hike on cards
By Staff Reporter
ISLAMABAD: Households and businesses will alike see their fuel bills swell if Prime Minister Shehbaz Sharif okays a proposal to hike gas prices for both households and industries.
SBP’s forex reserves fall below $10 billion
By Staff Reporter
KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves again fell below $10 billion in the week that ended June 30.
Pakistan’s LNG tender receives no offers
By Staff Reporter
KARACHI: Pakistan LNG Limited (PLL) did not receive a single offer in a $1 billion LNG import tender for 10 spot cargos for July to September deliveries, sources said.
Weekly inflation slows, but annual rate jump keeps pressure on govt
By Staff Reporter
ISLAMABAD: Weekly SPI inflation eased to 1.32 percent from 3.63 percent, but a rise in prices from a year earlier on higher food and energy costs adds to the miseries facing common Pakistanis.
Policy rate up 125bps: SBP ramps up inflation fight
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Thursday raised borrowing costs by 125 basis points to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund (IMF).
Composite image by Independent Pakistan
Should Pakistan replace SBP with a currency board?
By Ahmer Kureishi
June, the final month of the last fiscal year saw wholesale inflation in Pakistan rise to a historic high of 38.9 percent per annum, giving rise to fears that the flood of consumer price inflation is about to turn into a tsunami. Already at this point, the consumer price index was at 21.32 percent per annum.