By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) staff and Pakistanis officials will meet in Doha, Qatar on May 18 to restart talks over a stalled $6 billion program, senior officials said on Monday.
Economy
Trade deficit up sharply on record high goods imports
By Staff Reporter
ISLAMABAD: The trade deficit widened sharply in the first 10 months of the current fiscal year as goods imports surged to a record high, suggesting that trade likely remained a drag on economic growth in the last quarter.
Telecoms move SBP to undo cash margins on hardware imports
Our Staff Reporter
ISLAMABAD: Telecom and IT industries have pleaded with the State Bank of Pakistan (SBP) to reverse 100 percent cash margins on the import of nearly all those critically-important equipment that could not be procured domestically.
Power tariffs hiked again
By Staff Reporter
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) on Friday raised Rs2.86 and Rs1.38 per unit for consumers as fuel adjustment cost (FCA) for Ex-Wapda Discos and K-Electric (KE) respectively, which would be applicable in May 2022 bills.
Image courtesy APTMA official website
APTMA scales back cotton support price to Rs7,000/maund
By Staff Reporter
ISLAMABAD: The country’s textile sector has scaled back its demand for a cotton (Phutti) support price of Rs8,000/maund (40kg) by Rs1,000 for 2022-23 season to ease some pressure off the economically-challenged government, it said on Wednesday.
Two-day weekend to save 900MW of power per day
The government is on the cusp of restoring a two-day weekend as the country remains in a tight energy spot, whereas officials have crunched out numbers that strongly suggest the power saved as a result will help reduce load shedding, it is learnt.
Saudi help shot in arm for Pak economy
Saudi commitments of help aggregating to $4.2 billion following Prime Minister Shehbaz Sharif’s visit to the Kingdom have come as a shot in the arm at a difficult time for Pakistan’s battered economy.
CHANGE OF GUARD: Pictured, left, Reza Baqir, the outgoing SBP Governor, and right, Aasim M. Husain. the leading contender for the office
Who will succeed Reza Baqir to run SBP?
By Staff Reporter
ISLAMABAD: The government is starting its search for a new governor of the State Bank of Pakistan to succeed Dr Reza Baqir who is due to step down today. Dr Baqir’s appointment expires 4 May 2022.
Change of guard in key national institutions was always on the cards following the recent diametrical and rather unceremonious change of political leadership in Islamabad. Perhaps befittingly, it is starting with Dr Baqir. >>
Courtesy official website
April inflation touches 2-year high at 13.4 percent
Consumer price inflation surged at the fastest pace in two years in April as Ramazan demand pushed food prices higher, fueling expectations of an interest rate hike in the next monetary policy meeting, due later this month.
Sharif’s power play to end load shedding
Cash-strapped Pakistan had to fork out almost a billion dollars to energy procurement to keep Prime Minister Shehbaz Sharif’s promise of zero-load-shedding by 1 May 2022, Independent Pakistan can report.