By Staff Reporter
ISLAMABAD: Pakistan’s annual inflation rate eased to 26.9 percent in October, the lowest level in 10 months, as food and fuel prices dropped sharply, official data showed on Wednesday.
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Shell ends century in Pakistan with sale to Saudi firm
By Staff Reporter
KARACHI: Shell Petroleum Company Limited (SPCo), the parent company of Shell Pakistan Limited (SPL), has agreed to sell its domestic operations to Saudi Arabia’s Wafi Energy LLC, a fuel retailer, for an undisclosed amount, the companies said on Wednesday.
Pakistan begins mass deportation of undocumented migrants, mostly Afghans
By Staff Reporter
ISLAMABAD: Pakistan began a nationwide crackdown on Wednesday against thousands of illegal immigrants, mostly Afghans, who failed to leave the country by a government-imposed deadline that expired at midnight on Tuesday.
Fuel prices unchanged after gas rates hike
By Staff Reporter
ISLAMABAD: The caretaker government decided to keep the prices of petrol and high-speed diesel unchanged for the first half of November, a day after it raised the tariffs on natural gas for most consumers and industries.
Saudi WAFI Energy eyes majority stake in Shell Pakistan
By Staff Reporter
KARACHI: WAFI Energy LLC, one of the leading fuel station companies in Saudi Arabia, has announced its intention to acquire up to 77.42 percent shares and control of Shell Pakistan Limited (SHEL), a subsidiary of the global oil giant Shell Plc.
Pakistan sees growth pickup, inflation drop ahead of IMF talks
By Staff Reporter
ISLAMABAD: The Finance Ministry said on Tuesday it expects the economy to remain positive in the current fiscal year, as it projected a decline in inflation and a rise in growth ahead of talks with the International Monetary Fund (IMF).
Cabinet approves amendments to boost govt securities market
By Staff Reporter
ISLAMABAD: The caretaker cabinet on Monday approved amendments to the existing rules for government securities, aiming to enhance the efficiency and flexibility of the market and attract more investors.
Gas prices soar by 172 percent under IMF deal
Gas prices soar in Pakistan as the government complies with IMF’s condition for reducing circular debt. The move will impact millions of people and businesses across the country, especially the non-protected domestic consumers who will face a 173 percent increase.
Pakistan stands pat on rate, eyes IMF support and lower inflation
SBP keeps rates at 22 percent, sees inflation falling in October and beyond. MPC says tight policy stance to continue, ahead of IMF visit this week.
PIA cancels hundreds of flights as fuel crisis deepens
By Staff Reporter
KARACHI: Pakistan International Airlines Corp. canceled more than 300 flights in two weeks as it ran low on fuel amid a payment row with the state-owned oil company.