Finance Minister Ishaq Dar will represent Pakistan at the World Bank and the International Monetary Fund’s spring meetings in Washington next week, as it will be another opportunity for Islamabad to campaign for the renewal of its IMF package. “Due to financial constraints, the finance minister will come with a small entourage,” a diplomatic source told Dawn. “But the finance secretary and the
High oil prices, massive drop in auto sales, low power generation and economic slowdown restricted the country’s overall oil products sales which declined by nine per cent in March and 21pc during the first nine months of the current fiscal year (9MFY23). According to Nasheed Malik of Topline Securities, this is the lowest monthly sales figure in 35 months, since February-April 2020. Oil sal
Amid consumers’ opposition, the National Electric Power Regulatory Authority (Nepra) reserved judgment on the government’s request for reducing electricity subsidy by about Rs20 billion through about Rs6.02 per unit increase in K-Electric’s consumer-end tariff from April to June.While concluding the public hearing on a petition filed by the Power Division for a hike in KE’s consumer tariff, Nepra
Amid a persistent slowdown in construction activities, domestic cement sales dropped year-on-year 29 per cent to 3.356 million tonnes in March.Despite a 48.46pc year-on-year jump to 438,433 tonnes in March, the export shipments witnessed a fall of 35pc during July-March of 2022-23. As per the data released by All Pakistan Cement Manufacturers Association (APCMA), total cement despatches — expor
Pakistan’s exports of merchandise shrank for the seventh month in a row dipping by 14.76 per cent year-on-year to $2.36 billion in March, reflecting fear of massive layoffs in the export sector of the country. In the first nine months (July to March) of 2022-23, exports were down 9.87pc at $21.04bn compared to $23.35bn in the corresponding period last year, according to data released by the Pak