By Staff Reporter
KARACHI: Pakistan LNG Limited (PLL) has been allowed Economic Coordination Committee (ECC) of the cabinet to sign a framework agreement with SOCAR Trading, the international arm of Azerbaijan’s state oil company, the finance ministry said on Wednesday.
By Naveed Naqvi
ISLAMABAD: Pakistan is at an increased risk of failing to complete its $6.7 billion bailout program with the International Monetary Fund (IMF), which expires at the end of June, Moody’s Investors Service said on Wednesday.
By Staff Reporter
KARACHI: Shell Pakistan Limited (SPL) said on Wednesday that its parent company, Shell Petroleum Company Limited (SPCo), intends to sell its shareholding in the Pakistani subsidiary, subject to a sales process and regulatory approvals.
By Staff Reporter
KARACHI: Pakistan is looking to buy spot liquefied natural gas cargoes for the first time since July 2022, as Asian prices ease from record highs and the country faces a gas shortage that has led to power outages
By Staff Reporters
KARACHI: Remittances from overseas workers fell 10 percent year-on-year and 4 percent month-on-month to $2.1 billion in May, as a widening gap between official and unofficial exchange rates lured more inflows into the grey market, central bank data showed on Tuesday.
By Staff Reporter
KARACHI: Thousands of people were evacuated from coastal areas of Sindh province on Tuesday as Cyclone Biparjoy moved closer to land, weakening into a very severe cyclonic storm from extreme but still packing winds of up to 170 km per hour (105 mph).
By Staff Reporter
ISLAMABAD: The government said it has no plans to freeze foreign currency accounts as its central bank’s reserves fell to $3.9 billion, enough to cover less than a month of imports.
By News Desk
ISLAMABAD: Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese yuan, petroleum minister said on Monday, a significant shift from its dollar-dominated export payments policy, Reuters reported on Monday.
By Staff Reporter
KARACHI: Pakistan’s central bank on Monday held its key interest rate at a record 21 percent, as expected, suspending its monetary tightening campaign as the economy slows and inflation has peaked.
By Staff Reporter
KARACHI: A cyclone that intensified into an extremely severe storm on Sunday is likely to hit the coast between Karachi in Pakistan and Gujarat in India on June 15, weather officials said.
