The United States has dramatically cut the budgets of overseas development and aid programs, with multi-year contracts pared down by 92 per cent, or $54 billion, the State Department said Wednesday. On his first day in office, US President Donald Trump signed an executive order demanding a freeze on all US foreign aid for 90 days. The pause aimed to allow the administration to review overseas s
As the federal government and millers plan to provide sugar at Rs130 per kg nationwide, the wholesale price of the sweetener continues to rise ahead of Ramazan. Retailers in Karachi are already charging Rs160 per kg, saying that they could not sustain frequent hikes in wholesale rates as the 50 kg bag price has continuously risen by Rs150-200 per bag for the last few days. Karachi Wholesaler
While denying any external pressure during negotiations with the Independent Power Producers (IPPs), Power Secretary Fakhar Alam Irfan told the National Assembly Standing Committee on Power on Wednesday that violations by IPPs had been identified. Committee chair Muhammad Idrees expressed concern over the poor performance of Lahore Electric Supply Company (Lescoo) and asked to strengthen its ac
Pakistan Stock Exchange (PSX) on Tuesday closed modestly higher as it took cue from robust financial results in key sectors. The KSE-100 index reached the high of 115,890 during the day, before settling at 114,528, an increase of 198 points. Bullish activity was driven by several factors including an anticipated reduction in industrial power tariffs, low inflation, the potential privatisation o
Business leaders said fostering Pakistan-based financing schemes can promote both small and medium-sized enterprises (SMEs) and local products, stressing that the government should provide loans for infrastructure and raw materials of economic establishments rather than wasting time and funds on training and capacity building. Talking to The Express Tribune on Monday, they shared their views wh