Business

ISLAMABAD: Financial advisers of the National Power Parks Management Company Limited (NPPMCL) — which owns and operates two LNG-fired plants with a combined capacity of around 2,500 megawatts — have asked the government to immediately finalise gas-sale and power-purchase agreements, debt recapitalisation and payment mechanism if it wanted an early …

The Federal Board of Revenue (FBR) clarified on Sunday that the requirement of submitting a currency declaration form for inbound passengers to Pakistan was not a new development, stating that a notification in this regard had been issued by the State Bank of Pakistan (SBP) over a decade ago. “FBR …

“Pakistan’s economic and political situation isn’t stable right now.” We often hear statements like these every time we turn on the television, listen to the radio, or browse through social media platforms. It is important to be aware about the country’s situation, but the constant bombarding of distressing news does …

ISLAMABAD: The government on Friday promised to start making payments to independent power producers (IPPs) set up under the China-Pakistan Economic Corridor early next week and set a schedule for regular monthly payments for a full fiscal year to the satisfaction of Chinese investors. Pakistan’s Central Power Purchasing Agency (CPPA) …

KARACHI: Pakistan expects to cut its Gross Domestic Product (GDP) growth projection for the financial year 2022-2023 from five per cent to three per cent due to losses from the catastrophic monsoon rains and floods, Planning Minister Ahsan Iqbal said on Friday. His warning came as the National Disaster Management Authority …

European Union countries’ energy ministers meet on Friday to search for solutions from a long list of possible measures to shield citizens from sky-high energy prices as winter approaches. The basis for the talks is a set of proposals made by European Commission President Ursula von der Leyen — among …

Oil prices increased on Friday as investors took into account Russia’s warning to stop exporting gas and oil to specific clients. However, demand for petroleum was expected to be affected by China’s COVID-19 limitations and the aggressive rate rises by central banks, resulting in a second consecutive weekly decrease in …

The rupee, which has been weakening against the US dollar for over a week, dropped by Rs3.05 in the early going on Friday in the interbank market. Following a 1.35 percent depreciation from yesterday’s closing, the PKR was trading at Rs 228.5 per dollar at 10:56 am, according to data …

According to Miftah, the price of power will decrease next month. Talks about the time of the next October review sessions with the IMF. Imports of Indian tomatoes and onions should be taken into account if no other sources are available. Islamabad: Finance Minister Miftah Ismail said on Wednesday that the …

ISLAMABAD: The Ministry of Finance and the Federal Board of Revenue (FBR) expressed their ignorance about foreign currency declarations made by international passengers upon arrival in Pakistan on the orders of the Civil Aviation Authority (CAA), which further put pressure on local currency amid the depreciating value of the rupee. …