By Staff Reporter
ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif Thursday called upon Chinese companies to invest in the huge potential of renewable energy, particularly in the solar power in Pakistan.
Economy
High inflation to stick next year, denting economic growth
By Staff Reporter
ISLAMABAD: Ministry of Finance said on Wednesday persistently high inflation will haunt economic growth next year, while the interest rates would rise faster than assumed so far.
Russian oil: Govt seeks industry input on imports
By Staff Reporter
ISLAMABAD: The government has sought inputs from refineries on import of crude oil from Russia along with their recommendations for the viability of the option, officials said.
Finance Bill 2022 cruises through National Assembly
By staff Reporter
ISLAMABAD: The amended Finance Bill 2022, or the federal budget for the fiscal year 2022-23, cruised through the National Assembly on Wednesday, along with additional measures like Rs50/liter petroleum levy, higher taxation for the salaried class, and a 10 percent super tax for the tax year 2022 and onwards.
Benchmark treasury bill yield eases
By Staff Reporter
KARACHI: Yields on short term papers inched on Wednesday as the government borrowed a massive Rs1.742 trillion from the market to pay off part of massive circular debt in the energy sector.
C/A deficits yawns 131pc in May on lower exports, remittances
By Staff Reporter
KARACHI: Pakistan’s current account deficit yawned by 131 percent month-on-month (MoM) in May, as overseas workers’ remittances and exports decreased, outpacing a downtick in imports, the central bank data showed on Tuesday.
Loans, grants fall 27pc to $505mn in May
By Staff reporter
ISLAMABAD: Inflows of dollars in the form of loans/grants shrank 27 percent to $505 million in May 2022 from $699 million in the same month last year, data showed on Tuesday, creditable to the IMF’s freezing of its loan programme.
IMF places new obstacle course before staff-level deal
By Staff Reporter
ISLAMABAD: The IMF is yet to disclose the exact size of the renewed loan programme though it did mention in its Memorandum of Economic and Financial Policies (MEFP), handed to Pakistan early on Tuesday, about extending its time frame.
Dar to return home in July to make Miftah redundant
By Staff Reporter
ISLAMABAD: Ishaq Dar, the former and believed by some to be the de facto finance minister is said to be coming home in July 2022 to first win a court battle and then join the federal cabinet to replace Miftah Ismail, the incumbent economic executive, it is learnt.
Profit repatriation rises to $1.6 billion in July-May FY2022
By Staff Reporter
KARACHI: Multinational companies’ (MNCs) profit and dividends on their investment rose by 6.95 percent in the first 11 months of current fiscal year, the central bank data showed on Monday.