ISLAMABAD: The International Monetary Fund (IMF) has confirmed that its Executive Board will meet on September 25 to discuss the approval of Pakistan’s $7 billion Extended Fund Facility (EFF). The loan is crucial for stabilising Pakistan’s economy, which has been grappling with rising inflation and dwindling reserves. IMF spokesperson Julie Kozack announced the meeting during…
The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to falling…
A reduction in the prices of petroleum products is expected by the end of this week, owing to the drop in global oil prices. If confirmed, this would mark the third consecutive bi-weekly drop in prices of petroleum products. Petrol is expected to become cheaper by Rs12 per litre while the price of diesel is also…
Read More “Big Drop Expected in Petrol Prices | The Express Tribune” »
ISLAMABAD: Turkmenistan is set to become the first Central Asian country to access the Gwadar Port under China Pakistan Economic Corridor (CPEC) as both countries are about to ink an agreement in this regard. Pakistan and Turkmenistan are already venturing various joint projects, including TAPI pipeline, railway track and fibre connectivity to connect two regions…
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ISLAMABAD: Finance Minister Muhammad Aurangzeb and Planning Minister Ahsan Iqbal raised objections to the formation of a National Digital Commission and the Pakistan Digital Authority, instead called for using the current available infrastructure and taking advantage of innovation in the scientific field. The ministers along with Minister of State for Information Technology (IT) Shaza Fatima…
Read More “Ministers object to creation of more authorities | The Express Tribune” »
ISLAMABAD: The country’s power regulator has slapped a fine of Rs10 million on K-Electric (KE)the power utility that supplies electricity to Karachifor “lack of safety measures/culture” which resulted in the death of a person within its service territory during FY 2022-23. The National Electric Power Regulatory Authority (NEPRA) directed KE to pay the fine in…
Read More “NEPRA fines KE Rs1m for safety lapse | The Express Tribune” »
ISLAMABAD: The International Monetary Fund has appointed Mahir Binici as the new country head for Pakistan, while the government intensifies efforts to secure the $7 billion loan approval by the last week of September. All this is taking place amid growing suspicions about the motives of the global lender. The IMF’s action to set wrong…
Read More “IMF names new country head | The Express Tribune” »
After back-to-back gains, gold prices in Pakistan declined on Saturday in line with the decrease in the international rates. In the local market, the price of gold per tola lost Rs2,000, clocking in at Rs261,500. The 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,714, according to rates shared by the…
Read More “Gold prices see big decline in Pakistan – SUCH TV” »
Last Updated: September 05, 2024, 19:11 IST When a consumer’s balance is low, they can quickly recharge and reconnect their meter through the app. The new smart prepaid meters being installed in rural areas come with a handy push button designed to assist consumers during network outages. Residents in rural areas under the Bikramganj electricity…
New Delhi: AU Small Finance Bank (AUSFB) on Tuesday submitted an application to the RBI seeking approval for a universal bank licence. The RBI in April invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. AUSFB submitted an application to…
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