Islamabad Web desk: A high-level delegation from the International Monetary Fund (IMF) has arrived in Pakistan to assess the implementation of loan conditions under the ongoing financial assistance program. According to sources, upon arrival in Islamabad, the IMF officials met with a delegation led by the Secretary of Finance. The discussions mark the beginning of…
Islamabad Web Desk: In a much-needed relief for consumers, the government has announced a reduction in fuel prices for the next 15 days. The new prices will take effect from midnight tonight. According to the official notification, petrol prices will see a slight drop of 50 paisas per liter, bringing the new price to Rs….
ISLAMABAD WEB DESK: Pakistan’s Finance Minister, Muhammad Aurangzeb, has sounded the alarm: the country can no longer afford another boom-and-bust cycle. Speaking at the ‘Retail Reimagined: Innovate, Collaborate & Thrive’ conference organized by the Pakistan Retail Business Council (PRBC) in Islamabad, he stressed the urgent need for long-term structural reforms to ensure steady and inclusive…
Islamabad Web Desk: Authorities are actively considering reducing wheeling charges to around Rs. 10-12 per unit to make the Competitive Trading Bilateral Contract Market (CTBCM) a success. However, this reduction will only be feasible if stranded costs are excluded from the calculations. A senior official revealed that the government aims to establish a wholesale private…
Pakistan Web Desk: In a significant development, power distribution companies have submitted applications to the National Electric Power Regulatory Authority (NEPRA) to transfer over Rs. 52 billion in relief to electricity consumers under the quarterly adjustment mechanism. Impact of IPP Shutdowns Expected Soon The shutdown of five Independent Power Producers (IPPs) is set to bring…
Finance Minister Announces $1 Billion Loan Agreement with Two Middle Eastern Banks Pakistan Web Desk: Finance Minister Muhammad Aurangzeb has confirmed that Pakistan has finalized the terms for securing a $1 billion loan from two leading banks in the Middle East. In an exclusive interview with an international news agency at the World Economic Forum…
Web Desk: Prime Minister Shehbaz Sharif has congratulated the nation on the record-breaking growth in remittances, calling it a testament to the dedication of overseas Pakistanis toward the country’s progress. He emphasized that the claims of those predicting economic stagnation have been proven wrong. Record-Breaking Numbers in Remittances According to the State Bank of Pakistan,…
ISLAMABAD WEB DESK: The Federal Board of Revenue (FBR) has reported a commendable 97% achievement of its tax collection target for December 2024. The department collected Rs. 1,328 billion, slightly shy of the Rs. 1,370 billion goal. December’s collection marked a significant 35% growth compared to November, showcasing improved efficiency and revenue generation. Even more…
Web Desk: The Pakistan Stock Exchange (PSX) witnessed a remarkable surge during trading today. On the first day of the business week, the PSX 100 Index exhibited a positive upward trend from the start of trading. At one point, the index climbed by more than 3,000 points, reaching a peak of 114,440 points with a…
SIFC Expresses Disappointment Over Delays in Completion of Brownfield Refinery Islamabad Web Desk: The Special Investment Facilitation Council (SIFC) has voiced disappointment over delays in the completion of the Brownfield Refinery project, initially slated for 2023. These delays have hindered the launch of the refinery upgrade process, which involves an investment of $5-6 billion. The…
