IMF delegation calls on Governor SBP

IMF delegation calls on Governor SBP

A delegation of the International Monetary Fund (IMF) led by the Director Middle East and Central Asia Department, Mr. Jihad Azour, called on the Governor State Bank of Pakistan Dr. Reza Baqir today in Karachi. He was accompanied by the IMF Mission Chief to Pakistan, Mr. Ernesto Ramirez Rigo; Resident...

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Petroleum Sector Projects: Rs 31.710m released by government

Petroleum Sector Projects: Rs 31.710m released by government

The government is providing funds worth Rs 31.710 million during the beginning of the fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 581.812 million. As indicated by the official data, a total amount of Rs 2.110 million has...

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Saudi oil facilities attack: Prices may soar by Rs10-12 in Pakistan

Saudi oil facilities attack: Prices may soar by Rs10-12 in Pakistan

Prices of petroleum products are likely to soar by Rs10-12 in Pakistan following supply disruptions following drone attacks on Saudi Arabia’s oil facilities on Saturday that cut more than 5% of global oil supply.   Analysts have expressed fear, in consequence, a significant hike in prices of gold, daily use...

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KSE-100 index gains 447 point to close at 31,928 points

KSE-100 index gains 447 point to close at 31,928 points

Pakistan Stock Exchange (PSX) witnessed an upward trend on Monday with the benchmark KSE-100 index gaining 447 points and closing at 31,928 points. In the previous week, with a significant average trading volume of 13 million shares over a course of the week, PSX shares rose by Rs125 billion. Collectively,...

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US-China trade war continues: Beijing cuts down products from the tariffs list

US-China trade war continues: Beijing cuts down products from the tariffs list

China said Wednesday it would spare a number of US products from punitive tariffs in what is seen as an olive branch by Beijing in the protracted trade war ahead of high-level talks next month. However, the goods do not include big-ticket agricultural items that could be crucial to the...

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Pakistan briefs FATF team over anti-terror measures

Pakistan briefs FATF team over anti-terror measures

Pakistan has briefed technical team of Financial Action Task Force (FATF) on the steps it has taken to curb terror financing and money laundering. Federal Minister for Economic Affairs Hammad Azhar, who led a 15 member Pakistani delegation at Bangkok, said talks were held with FATF s technical team. He said...

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GIDC ordinance: Federal Cabinet likely to undergo changes after PM’s visit to US

GIDC ordinance: Federal Cabinet likely to undergo changes after PM’s visit to US

After Prime Minister Imran Khan withdrew the Gas Infrastructure Development Cess (Amendment) Ordinance 2019, differences have erupted in the Federal Cabinet which is likely to undergo changes after the premier’s visit to the United States. According to details Pakistan Tehreek-e-Insaf’s (PTI) ideological group is of the opinion that the government...

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Dollar hits 156.80 against PKR in interbank market

Dollar hits 156.80 against PKR in interbank market

The Pakistani rupee on Tuesday depreciated against the US dollar by 18 paisa in the interbank market and was trading around Rs156.80 till the last report came in.   Yesterday, the local currency gained 24 paisa against the greenback and closed at Rs156.52. On Friday, the rupee appreciated by 66...

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Govt announces Rs4.59 per liter reduction in petrol price

Govt announces Rs4.59 per liter reduction in petrol price

 Pakistan Tehrik-e-Insaf (PTI) government  announced to reduce the prices of petroleum products effective from September 1. Petrol price would be reduced by Rs 4.59 per liter with new price standing at Rs 113.24 per liter. According to the notification issued by Ministry of Finance, the prices of high speed diesel,...

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ADB raises funding for Pakistan by $1 billion

ADB raises funding for Pakistan by $1 billion

The Asian Development Bank (ADB) has increased funding amount for Pakistan by one billion dollars to support its energy sector, including hydropower and electricity generation programmes.   Thereby, Pakistan will get $8 billion instead of $7 billion from the ADB. The programme has also been extended for improving Pakistan Railways’...

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