The government on Tuesday reduced the price of petrol by Rs2.71 per litre, and that of high-speed diesel (HSD) by Rs0.03 per litre. Following the revision, petrol will retail at Rs392.66 per litre, while HSD will cost Rs396.82 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and […]
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ISLAMABAD: European Union Commissioner for Internal Affairs and Migration Magnus Brunner called on Prime Minister Shehbaz Sharif on Tuesday to discuss strengthening Pakistan-EU cooperation in migration and mobility, one of the eight pillars of the Pakistan-EU Strategic Engagement Plan 2019. Welcoming Commissioner Brunner on his first visit to Pakistan, the prime minister underscored the importance […]
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Prime Minister Shehbaz Sharif said on Tuesday that wheat was available in abundant quantities to meet domestic needs, while vowing no leniency for hoarders, according to the Prime Minister’s Office (PMO). PM Shehbaz chaired the first National Agricultural and Food Security Council (NAFSC) meeting in Islamabad today, according to a statement issued by the PMO. […]
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ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistan’s economic growth at 3.5 per cent during the current fiscal year and inflation to remain close to double digits for another year, notwithstanding global growth rebounding to 3.4pc. In its flagship World Economic Outlook, released at the launch of the World Bank-IMF annual meetings in Bangkok, […]
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The International Monetary Fund (IMF) warned on Tuesday that while low-income developing countries were dealing with the disproportionate impacts of the Iran war-fuelled energy shock, many had “no choice” but to cut spending or potentially face debt restructuring. Speaking to AFP on the sidelines of the organisation’s Annual Meetings in Bangkok, IMF deputy director of […]
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• Directs Smeda to expand access to business loans, prepare feasibility studies in local languages• Orders audit of Daanish IT Park, urges collaboration with global technology firms ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed the authorities to increase financing for small and medium-sized enterprises (SMEs) from Rs1.1 trillion to Rs2.2tr by 2028, citing their […]
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KARACHI: The imposition of governor’s rule and an emergency in PTI-ruled Khyber Pakhtunkhwa further weakened already fragile investor sentiment on Monday. The Pakistan Stock Exchange (PSX) remained under pressure from Middle East tensions, elevated oil and petroleum prices, inflationary pressures and political instability, all contributing to continued economic uncertainty. As a result, the market remained […]
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ISLAMABAD: The government said on Monday it had to cut the foreign-funded project portfolio by more than half, from Rs537 billion to Rs255bn, due to a shortage of matching funds in local currency for the current fiscal year. This was reported to the Senate Standing Committee on Planning, Development and Special Initiatives by a team […]
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ISLAMABAD: Pakistan could realise economic benefits of $60 billion to $80bn over the next five years through digital transformation, with agriculture, real estate and healthcare expected to gain significantly. A working paper issued by the Pakistan Digital Authority (PDA) says digitalisation is a major opportunity to accelerate economic growth, improve public service delivery, and streamline […]
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