Pakistan fails to match regional peers in living standards: International Monetary Fund – Trendy Blogger

Pakistan fails to match regional peers in living standards: International Monetary Fund

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A representative photo of a girl balancing herself while walking on an abandoned railway track in a slum area of ​​Karachi, Pakistan, July 10, 2023. — Reuters Pakistan’s peers have achieved more than double the average GDP per capita. The global lender is assessing Pakistan’s performance over the past 10 years. The Fund recommends strengthening … Read more

Pakistan’s economic outlook depends on the IMF program and external financing: the World Bank – Trendy Blogger

Pakistan’s economic outlook depends on the IMF program and external financing: the World Bank

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View of the World Bank building. – Reuters/File The World Bank report expects the GDP growth rate to reach 2.8% in Pakistan. Business confidence is likely to improve after the credit rating upgrade. Pakistan’s lack of trade openness is hurting exports, the report says. ISLAMABAD: In its report titled “Pakistan’s Development Modernization: Dynamics of Power … Read more

Government targets Rs 8-10 per unit cut in power tariff, as five IPPs cancel contracts – Trendy Blogger

Government targets Rs 8-10 per unit cut in power tariff, as five IPPs cancel contracts

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Energy Minister Owais Leghari addresses a press conference in Islamabad, October 10, 2024. — Screengrab via Geo News Reducing electricity tariffs after talks with generating companies: Leghari. ISMO says it will enable consumers to buy electricity like stocks. “A program is designed to boost energy consumption in winter.” ISLAMABAD: The government aims to reduce tariffs … Read more

FinMin: Rs 3.4 Trillion Sales Tax Evasion Detected in Various Sectors – Trendy Blogger

FinMin: Rs 3.4 Trillion Sales Tax Evasion Detected in Various Sectors

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Finance Minister Senator Muhammad Aurangzeb (L) and FBR Chairman Rashid Mehmood Langriyal address a press conference to summarize the FBR study regarding sales tax evasion in Islamabad on October 10, 2024. – PID Aurangzeb says most entities claim excess input tax. Sharing FBR findings on massive malpractices in 5 sectors. Finance czar warns tax evaders … Read more

Pakistani Investment Minister Al-Falih says Pakistani-Saudi economic relations “have no limits” – Trendy Blogger

Pakistani Investment Minister Al-Falih says Pakistani-Saudi economic relations “have no limits”

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Saudi Investment Minister Khalid bin Abdulaziz Al-Falih addresses the Pakistan-Saudi Business Forum in Islamabad, on October 10, 2024. — Screengrab/GeoNews We must strengthen Pakistan’s economy: Investment Minister. A Saudi minister praises Islamabad for achieving economic stability. Dignity emphasizes shared economic and social values. Saudi Investment Minister Khalid bin Abdulaziz Al-Falih said on Thursday that relations … Read more

The country’s largest oil refinery will close its doors until November 18 due to maintenance work – Trendy Blogger

The country’s largest oil refinery will close its doors until November 18 due to maintenance work

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An undated photo of the Barco refinery. — Barco website/file The refinery will remain closed from October 10 to November 18 Barco meets 40-50% of the country’s oil needs. The facility can process 120,000 barrels of crude oil per day. KARACHI: Pak Arab Refinery Limited (Parco), the country’s largest oil refinery, is set to shut … Read more

Memorandums of understanding worth $2 billion are expected to be signed with the arrival of a high-level Saudi delegation in Pakistan – Trendy Blogger

Memorandums of understanding worth  billion are expected to be signed with the arrival of a high-level Saudi delegation in Pakistan

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Petroleum Minister Musaddiq Malik receives a Saudi delegation upon its arrival in Islamabad on October 9, 2024. – Screengrab via Geo News A Saudi minister delivers a speech before the Business Forum during the visit Agreements and memorandums of understanding to be signed in various fields. Companies from various sectors are part of the delegation. … Read more

The Cabinet Committee approves an independent multi-player market for the energy sector – Trendy Blogger

The Cabinet Committee approves an independent multi-player market for the energy sector

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Prime Minister Shehbaz Sharif chairs a meeting of the Ministerial Committee on Energy in Islamabad on October 9, 2024. – PID The Cabinet Energy Committee approves the formation of ISMO. The board of directors of the new entity includes experts from the energy sector. ISMO to allow the purchase of energy from suppliers other than … Read more

September remittances rose 29% to US$2.85 billion year-on-year due to stabilization of the rupee – Trendy Blogger

September remittances rose 29% to US.85 billion year-on-year due to stabilization of the rupee

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US $100 bills are shown in this illustration taken in Seoul on February 7, 2011. — Reuters Pakistan receives highest ever quarterly remittances in Q1 FY2025. Saudi Arabia leads in September remittances, with a total of $681.3 million. Analysts say the rise is driven by exchange rate stability. Remittances rose 29% year-on-year to $2.849 billion … Read more

Bidders are seeking full ownership of PIA amid looming privatization – Trendy Blogger

Bidders are seeking full ownership of PIA amid looming privatization

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This photo shows a Pakistan International Airlines (PIA) plane. – AFP/File Bidders say the risks outweigh the rewards without 100% ownership. An investment of $500 million cannot be justified without full management. The national carrier is burdened with liabilities worth Rs 200 billion. ISLAMABAD: Days after Finance Minister Muhammad Aurangzeb reassured about the privatization of … Read more