By Staff Reporter
ISLAMABAD: Power regulator Nepra on Thursday allowed fuel cost adjustments (FCA) of Rs11.37 to Karachi-based power utility K-Electric and Rs9.89/unit to electricity distribution companies Discos.
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ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division- PID photo
Pakistan ends ban on non-essential luxury goods imports
By Staff Reporter
ISLAMABAD: The government on Thursday lifted a nearly two-month ban on the import of several non-essential luxury goods despite an alarming low levels of foreign currency reserves.
S&P cuts Pakistan’s outlook to negative
By Staff Reporter
KARACHI: S&P Global Ratings cut Pakistan’s credit outlook to negative from neutral as the country’s external position weakens with higher commodity prices, the rupee’s depreciation and tighter global financial conditions.
SBP’s forex reserves fall to levels equal to 35 days of imports
By Staff Reporter
KARACHI: The State Bank of Pakistan’s held foreign exchange reserves dropped 8.1 percent to $8.575 billion in the week ended July 22, as the country struggles to manage a long-simmering debt crisis, latest data showed on Thursday.
Govt plans increasing petroleum levy to unlock IMF funds
By Staff Reporter
ISLAMABAD: Pakistan is on track with the conditions of an IMF bailout programme and the country has completed all prior actions needed for disbursement of next chunk of aid in August, finance minister said on Wednesday.
Toyota, Suzuki to shut Pakistan’s assembling units on import restrictions
By Staff Reporter
KARACHI: Car assemblers in Pakistan, Toyota and Suzuki, planned plant shutdowns next month as unavailability of raw material amid government’s import restrictions hit productions, officials said.
Current account deficit reaches $17.4 billion in FY22
By Staff Reporter
KARACHI: The current account deficit surged to a 4-year high of $17.4 billion in the fiscal year of 2021-22 on soaring cost of energy imports, central bank’s data showed.
Pakistan gets foreign loans of $22.5 billion in last fiscal
By Staff Reporter
ISLAMABAD: Pakistan borrowed $22.5 billion in the last fiscal year to plug the current account deficit and to pay back maturing debts.
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division. - PID
ECC approves RLNG rate of $9 per MMBTU for export-oriented industry
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday increased RLNG rate to $9 per MMBTU from from $6.5 for five export-oriented industry from existing gas connections.
Media talk by Leaders of the coalition partiies after hearing by Supreme Court of Pakistan on a petition filed by PMLQ against the Ruling of Deputy Speaker Punjab Assembly in Islamabad - PID
Ruling allies boycott court proceedings of Punjab CM’s voting dispute
By Naveed Naqvi
ISLAMABAD: The ruling alliance will boycott court proceedings after the Supreme Court refused to set up a full court to hear the plea on the Punjab chief minister’s election.