By Staff Reporter
ISLAMABAD: The Federal Cabinet is yet to give a go-ahead to phasing in a power tariff hike of Rs7.92/unit as committed with the IMF, which might have consequences for the bailout pogramme, it is learnt.
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Anomalies: Petroleum Division engages SECP to vet Eni-PIOGCL deal
By Staff Reporter
ISLAMABAD: Petroleum Division has raised questions over Hub Power Holding Limited’s (HUBCO) undertaking about the transfer of entire share capital of Eni Pakistan Limited to Prime International Oil & Gas Company Limited (PIOGCL), while moving the corporate regulator to vet the case for clarity, it was learnt on Monday.
Miftah says IMF talks progressing well
By Staff Reporter
ISLAMABAD: Minister for Finance Miftah Ismail on Monday claimed the IMF programme was coming along very well, but the fund has not shared the nine tables with the Memorandum of Economic and Financial Policies (MEFP), required for the completion of combined reviews, which casts tons of doubts on the finance chief’s damage-control statements, raising serious concerns over the fate of economy.
Surging Imports: Trade deficit widens 55.29pc to $48.25bn
By Staff Reporter
ISLAMABAD: Trade deficit widened by a gargantuan 55.29 percent in the fiscal year ended on June 30, 2022 primarily powered by a surge in petroleum and foods imports that outpaced the exports by a mammoth margin.
Covid Comeback: Pakistan sets off alarms as new cases go north
By Staff Reporter
ISLAMABAD: Setting off serious alarms for the first time since the new Covid variant’s outbreak in Pakistan, the country’s top health official on Monday appealed to the people to not to let their precautionary guard down in any way to save themselves as well as others from the pandemic.
Inflationary Shocks: KE cleared to raise power tariff by Rs9.66/unit
By Staff Reporter
ISLAMABAD: The country’s power regulator on Monday allowed K-Electric (KE) to ratchet up the tariff for the load-shedding-battered consumers by Rs9.66/unit, a second such increase in a short span of time.
PM pushes new US envoy to deepen investment ties
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday, in his first interaction with the new full-time US envoy, said Pakistan wished mutually respected ties with Washington, which could be further bolstered through investment, trade, and development finance, a statement said.
A US-DELEGATION HEADED BY MR. DILAWAR SYED, STATE DEPARTMENTS SPECIAL REPRESENTATIVE FOR COMMERCIAL AND BUSINESS AFFAIRS CALLED ON FEDERAL MINISTER FOR FINANCE AND REVENUE MR. MIFTAH ISMAIL AT FINANCE DIVISION, ISLAMABAD ON JULY 01, 2022.
Needed Inflows: Pakistan offers high returns to US investors
By Staff Reporter
ISLAMABAD: Pakistan on Friday invited US investors to make the most of the high-return investment opportunities that were up for grabs right now, especially in renewable energy as well as other sectors of the economy, a statement said on Friday.
KARACHI: Indian fishermen showing their names as exit Malir jail following their release in the provincial capital. At least 20 Indian fishermen jailed In Pakistan released after five years. ONLINE PHOTO
Pakistan, India swap prisoner lists
By Staff Reporter
LAHORE: Islamabad and New Delhi on Friday swapped the lists of civilian prisoners and fishermen languishing in the jails of both sides, under the provisions of the Agreement on Consular Access signed between the two countries in 2008.
Stumbling Block: IMF cutting no slack to Pakistan on anti-corruption reforms
By Staff Reporter
ISLAMABAD: Pakistan and its development partner, the IMF, are stretching their negotiatory limits to carve out a consensus on Prior Actions (PAs) for a staff accord, but the talks are stalemating as the lender is not backing down on its demand for putting a powerful anti-corruption watchdog among the dirty government officials from top to bottom.