Caretaker Finance Minister Dr Shamshad Akhtar on Sunday underlined Pakistan’s commitment to promoting economic prosperity and fostering global financial cooperation. The minister participated in a high-profile meeting of IMF chief Kristalina Georgieva with the finance ministers from the Middle East, North Africa and Pakistan (Menap), as well as state bank governors in Marrakesh, Morocco. Du
The caretaker government has called for strict enforcement of the cotton support prices set earlier this year, with Prime Minister Anwaarul Haq Kakar on Sunday ordering action against those exploiting the situation and buying cotton below the predetermined rate of Rs8,500 per 40kg. Caretaker Punjab Chief Minister Mohsin Naqvi, who met PM Kakar to discuss the issue, also separately urged cotton
Karachi’s power utility K-Electric has sought another Rs3.02 per unit in tariff adjustment for the April-June quarter of this year. The National Electric Power Regulatory Authority (Nepra) has accepted the petition for a public hearing on Oct 19 (Thursday) to examine whether KE’s request was justified and whether the company’s claim for Rs13.2 billion write-off against unrecovered bills shou
Equities carried forward the bullish momentum into the eighth consecutive session on Wednesday. Topline Securities Ltd said the market gains could be attributed to the investors’ buying interest in energy stocks on the expectation of a hike in the gas tariff that is likely to be announced in the ongoing week. Arif Habib Ltd said the advance towards the August highs continues as the session c
The International Monetary Fund (IMF) on Wednesday forecast Pakistan’s fiscal deficit — the gap between the country’s total resources and expenditures — for the current financial year at 7.6 per cent of GDP, almost 1.1pc higher than 6.5pc target set by the federal government. Even after taking into account Rs600bn cash surplus targeted by the Centre to come from provincial governments, the IMF