Brent and US crude futures fell on Tuesday as fears of supply disruptions from the conflict between Israel and Iran eased after Iranian-backed Hezbollah signaled support for a ceasefire proposal put forth by Lebanon’s government. Brent crude futures were down $3.70, or 4.57 per cent, to $77.23 a barrel at 11:21 am CDT (1621 GMT). US West Texas Intermediate futures were down $3.57, or 4.63pc, at
The Senate Standing Committee on Commerce on Tuesday unanimously moved a privilege motion against commerce ministry officials for the exclusion of parliamentary members from the Board of the Trade Development Authority of Pakistan (TDAP) since 2021. The committee meeting chaired by Senator Anusha Rahman moved the motion against officials responsible for not taking parliamentarians to the TDAP b
The State Bank of Pakistan (SBP) on Tuesday announced a three-time increase in monetary incentives for exchange companies to bring more remittances into the country. The remittances increased to $30.25 billion in FY24. Most of the inflows were received through the banking channels, but the exchange companies’ participation was not insignificant as they deposited around $5bn. “We have been ne
Finance Minister Muhammad Aurangzeb said on Tuesday that the government is committed to keeping Pakistan on track with structural reforms in key economic sectors, including energy, state-owned enterprises, privatisation, taxation, and government rightsizing. He said that Pakistan has previously been seen as a “single-tranche country”, but the time has come to change this perception by implement
The World Bank is expected to provide over $2 billion annually to Pakistan for five years under its next Country Partnership Strategy (CPS), which will likely be finalised by December. This was indicated to journalists on Tuesday by a World Bank team led by Country Director Najy Benhassine that also confirmed that two years after the devastating floods in 2022, only 104 bank accounts have been