Finance Minister Ishaq Dar announced on Tuesday that the Asian Infrastructure Investment Bank (AIIB) had transferred $500 million to the State Bank of Pakistan (SBP). “AIIB has transferred today, as per their board’s approval, to State Bank of Pakistan/Government of Pakistan $500 million as programme financing,” the minister said on Twitter Earlier this month, the finance minister had said P
The National Electric Power Regulatory Authority (Nepra) on Tuesday approved 32 paise per unit reduction on account of fuel cost adjustment (FCA) for consumers of ex-Wapda distribution companies (Discos) for October. Nepra announced this decision after carrying out a public hearing convened on a petition filed by the Central Power Purchase Agency (CPPA) on behalf of all Discos seeking a cut of
In view of the expected gas shortages in the winter season, Engro Polymer and Chemicals Ltd has signed an “interim agreement” with the state-owned Sui Southern Gas Company Ltd (SSGC) for the supply of fuel based on the industrial/commercial pricing for re-gasified liquefied natural gas (RLNG). The company will buy the imported gas — whose rate is over three times higher than that of the locally
The Ministry of Finance said on Tuesday that inflationary pressure is expected to marginally ease out month-on-month due to smooth domestic supplies, unchanged energy prices in November and a stable exchange rate. Further, the recent Kissan package has made an optimistic crop outlook which will decelerate food inflation in the months ahead. Moreover, the food supply chain disruption caused b
Textile exporters in Pakistan, like their regional counterparts, struggle to be merry this Christmas season, as a buying freeze abroad has hit all segments, from apparel, denim and knits to home textiles, though they hope things will get better in the coming months. “This time around, we did not get Christmas orders,” says Sohail Pasha, chairman of the Pakistan Textile Exporters Association.