By Aoun Hussain
ISLAMABAD: The World Bank has approved a USD 200 million loan to help transform the agriculture sector of Pakistan’s food basket Punjab province.
Economy
IMF to release $1.7 billion to Pakistan within six weeks
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) said two tranches under bailout facility, totalling $1.7 billion, are expected to release to Pakistan within six weeks on approval from its board.
Govt cuts rising fuel prices by a sliver
By Staff Reporter
ISLAMABAD: The government on Thursday cut fuel prices to give relief to inflation-hit consumers as global oil prices fall, the prime minister said.
IMF and Pakistan reach staff-level agreement on $1.77 billion loan
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on the seventh and eight reviews of the Fund’s $ billion bailout programme that will allow for a disbursement of $1.177 billion, the IMF said on Wednesday.
Petrol pumps threaten shutdown over better margins
By Naveed Naqvi
ISLAMABAD: Pressing for better margins on retail sale of fossil fuels, the Pakistan Petroleum Dealers Association (PPDA) has threatened to close petrol pumps across the country in protest from July 18.
FIA Case: Top officials bilked PPL for millions of dollars
By Naveed Naqvi
ISLAMABAD: The Federal Investigation Agency (FIA) has arrested Pakistan Petroleum Limited (PPL) Deputy Managing Director Abid Malik and is conducting raids to arrest several others including a former managing director of the state-owned company on charges of bilking the company for millions of dollars, Independent Pakistan can report.
Govt plans fuel price cut to win political reprieve
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.
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)