The Trading Corporation of Pakistan (TCP) on Monday received offers in its international tender to buy 100,000 tonnes of white sugar, European traders said in initial assessments. On July 8, the government had approved plans to import 500,000 tonnes of sugar to help maintain price stability. Market analysts said that retail sugar prices in the country have risen sharply since January. TCP ha
About 55 per cent of India’s merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump’s administration, the Indian government said on Monday. Last week, Trump imposed an additional 25pc tariff on Indian goods as punishment for Delhi’s purchases of Russian oil. That raised the total duty on Indian exports to the US to 50pc — among the highest on an
The crackdown launched late last month against the smuggling of hard currencies out of Pakistan has checked speculative demand for dollars. However, the dollar shortage in the market appears to be driven primarily by imports and debt repayments, as evidenced by the decline in foreign exchange reserves and a significant rise in the merchandise import bill. Pakistan’s total foreign exchange reser
The unending cost escalation — 405 per cent (from Rs16.92 billion to Rs85.57bn) as per the unapproved third revised project cost (PC-I), as well as the prolonged delay in the Nai Gaj dam project’s completion, perhaps merit prime ministerial-level intervention to fix responsibility for why a project of vital importance remains incomplete even after 13 years. Nai Gaj dam is primarily a rainwater
The 10th National Finance Commission (NFC) expired on July 21, and the NFC secretariat in the Finance Ministry is in the process of forming a new commission. There is no notification yet of the representatives of the four provinces for the 11th NFC. The 7th NFC Award has now been in effect for nearly 15 years — far beyond its five-year tenure. The president of Pakistan has extended the award ev