Global oil benchmark Brent crude futures fell below $70 a barrel on Tuesday for the first time since December 2021, after Opec+ revised down its demand forecast for this year and 2025. Brent crude futures were down $2.62, or 3.65 per cent, at $69.22 a barrel at 1:14 p.m. EDT (1715 GMT). US West Texas Intermediate (WTI) crude lost $2.90, or 4.22 per cent, to $65.81. Both benchmarks dropped b
Commerce Minister Jam Kamal said on Tuesday that digital inclusion is a pathway to economic equality and called on the private sector to actively contribute to driving change in Pakistan. The minister remarked at the event titled Shaping Tomorrow: Private Sector Engagement in Advancing Gender Equality and Women’s Empowerment. UN Women Pakistan hosted the event. The minister highlighted the c
Finance Minister Muhammad Aurangzeb has said that structural reforms are being undertaken in the power sector to improve its efficiency and service delivery. During a meeting with the K-Electric delegation on Tuesday, the minister said the reforms included the reconstitution of the boards of directors of Discos by bringing in professionals from the private sector and reducing the number o
The government will borrow Rs3.5 trillion during the next three months to meet the increasing liquidity requirement. The State Bank’s calendar shows that the government will raise Rs3.475tr from Sept 4 to Nov 27 through treasury bills. However, this amount is less than the maturing amount of Rs4.594tr during the same period. Over the past several years, the government’s substantial borrowing
The Prime Minister’s Steering Committee for Gemstones approved a series of reforms on Tuesday to revitalise the sector, with a key decision to bring the industry under the Ministry of Industries. The meeting, chaired by Minister for Privatisation Abdul Aleem Khan, included stakeholders such as federal ministers, secretaries, senior officials and private sector representatives. They discussed