Business

CASH-STRAPPED Pakistan’s energy crisis is set to worsen over the next several weeks as it struggles to procure LNG at an affordable rate when little is available in an international market that has been sorely affected by the political fallout of the Russia-Ukraine war. The global LNG shortages have sent …

Finance Minister Miftah Ismail said on Thursday that there was nothing wrong with taxing the affluent because they were “able to pay” as he talked about the government imposing additional taxes on industries and wealthy citizens. “In Pakistan, it is the poor who have always suffered the burden of taxes,” …

Bitcoin (BTC) slipped under the $20,000 level in Asian hours on Wednesday as a brief relief rally seemed to reverse amid recession fears in broader equity markets. Prices dropped to just over $19,900 at press time, causing a 4pc loss for traders in the past 24 hours and adding to …

The price of 24 karat per tola gold witnessed a decrease of Rs1850 per tola and was sold at Rs145,300 on Wednesday against its sale at Rs 147,150 the previous day in the local market. The price of 10-gram 24 karat fold also decreased by Rs1586 and was sold at …

Pakistan Wednesday inked a $2.3 billion loan facility agreement with a consortium of Chinese banks to help shore up the depleting foreign exchange reserves and appreciate the fast depreciating rupee. Finance Minister Miftah Ismail announced the development on his Twitter handle, revealing that the inflows were expected within a couple …

ISLAMABAD: Accusing the previous Pakistan Tehreek-i-Insaf (PTI) regime of bringing the country on the verge of bankruptcy, Federal Minister for Climate Change Senator Sherry Rehman on Wednesday said the present coalition government had no choice but to present the budget on the dictation and terms of the International Monetary Fund …

ISLAMABAD: In a major step towards conduct of the first-ever digital census in the country, the Pakistan Bureau of Statistics (PBS) and National Database and Registration Authority (Nadra) on Monday signed a contract that will enable the former to ensure population data collection and compilation with precision and accuracy within …

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday decided to continue giving subsidy to the poor and low-income groups on five essential items — wheat flour, sugar, ghee/edible oil, pulses and rice — in the next fiscal year. The subsidy was given by the PTI government. Under the decision, the poor …

WITH differences between Pakistan and the IMF over the government’s budget and macro targets for the next fiscal yet to be resolved, Washington is believed to have agreed to intervene at the behest of Islamabad to help it clinch a deal with the lender. That Pakistan needs the IMF programmed …

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday lauded efforts of Minister for Industries and Production Makhdoom Murtaza Mehmood for making timely arrangements for import of edible oil from Indonesia. During a meeting with the minister, he said the import of edible oil would help red­uce prices of the commodity in …