Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb during a press conference in his office. – Geo.tv (screenshot) FinMin says that inflation is expected to reach new lows in the coming days. Aurangzeb laments the loss of Chinese independent power engineers in Karachi. He urges those calling for strikes to consider the ramifications of … Read more
A foreign exchange trader counts US dollars at a store in Karachi, Pakistan, May 19, 2022. – AFP/File Saudi Arabia promises $1.2 oil facility to Islamabad. Dubai Islamic Bank commits to providing $1 billion. The Islamic Development Bank and the Asian Development Bank pledged $600 million and $430 million, respectively. ISLAMABAD: Amid efforts by the … Read more
Finance Minister Muhammad Aurangzeb speaks during an interview in Islamabad on July 19, 2024. — Reuters The charter focuses on a unified financial network between the center and the provinces. The Minister of Finance described the agreement as “a step in the right direction.” The move aims to increase tax revenues from the agricultural sector. … Read more
Federal Minister of Energy (Energy Department) Awais Leghari on Sunday said there is consensus between the government and independent power producers (IPPs) to reduce electricity prices, as financially challenged consumers struggle with unaffordable tariffs and little hope of immediate relief. Legari, along with sector officials and an economist, addressed the controversial issue of agreements with … Read more
Stock brokers watch news on TV in a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. – Reuters Stocks on Monday surpassed a record high of 84,900, driven by a massive rally in the energy sector and growing optimism about potential interest rate cuts, traders said. The … Read more
A broker takes a picture of the trading screen at the Pakistan Stock Exchange. – Reuters/File After a day of flat close, stocks jumped on Thursday, testing the 83,000 resistance level as easing inflation pressures and hopes of further interest rate cuts, coupled with improving economic indicators, prompted investors to snap up high-yielding stocks. … Read more
A power transmission tower in Karachi on January 24, 2023. — Reuters IPPs must terminate contracts once the modalities are finalized. The government will provide up to Rs 150 billion in terms of capacity payments. The current administration is negotiating the dues owed to independent energy buyers. ISLAMABAD: At a time when the current … Read more