The federal cabinet has approved the diversion of 45 liquefied natural gas (LNG) cargoes because of shrinking consumer demand in the country. The Economic Coordination Committee (ECC) has already approved the diversion of LNG cargoes. Its decision was tabled before the cabinet in a recent meeting, where the proposal was ratified. Sources told The Express Tribune that summaries titled "Update
The tax machinery on Thursday told Prime Minister Shehbaz Sharif that it may miss the first half-year's downward revised target by Rs560 billion without support from the office of the attorney general, amid a warning by the Ministry of Finance about the implications of a huge revenue shortfall for government expenditure. The meeting on fiscal affairs came a day after the International Monetary
The International Monetary Fund (IMF) has slapped Pakistan with 11 more stringent conditions to address corruption vulnerabilities, end elite capture of the sugar sector and unearth the true cost of foreign remittances. The new conditions have also been imposed to reduce losses in the power sector through private sector participation, improve governance and service delivery, and enhance the effect
Gold prices held near a seven-week high on Friday, supported by expectations of more interest rate cuts next year after the U.S. Federal Reserve pushed back against hawkish market bets, while silver hovered just below Thursday’s record peak. Spot gold dipped 0.2% to $4,275.44 per ounce by 0236 GMT, but was on track for a 1.8% weekly gain after hitting its highest since October 21 on Thursday. U
The International Energy Agency trimmed its forecast of next year’s global oil supply glut for the first time since May on Thursday, flagging higher demand prospects due to a stronger world economy and lower supply from nations under sanctions. Oil prices have been under pressure for months due to predictions from the IEA, which advises industrialised countries, and other analysts of a looming