Russian President Vladimir Putin said on Wednesday that oil production cuts were required to maintain a certain price level, contradicting assurances from other leaders of the Opec+ group of producers that it was not seeking to manage the market in that way. The United States and Europe have accused Russia of weaponising energy to contain the West in its drive to weaken Moscow’s military campai
The American Business Council of Pakistan (ABC) on Wednesday met with top members of the government’s economic team to discuss various measures for ease of doing business, encourage foreign direct investment (FDI), and boost economic growth. The delegation led by ABC president Jamshed Safdar held separate meetings with Commerce Minister Naveed Qamar, Minister of State for Revenue Tariq Pasha an
The Public Accounts Committee expressed concern on Wednesday that Pakistan would have to pay a staggering amount of $18 billion in penalty if the country did not go ahead with the Iran-Pakistan Gas Pipeline project. “The US should pay the penalty if it does not approve of Pakistan and Iran going ahead with the gas pipeline project. The USA will have to do away with double standards — being leni
The economic situation is going to be “very difficult” in coming months, with liquid foreign exchange reserves of the central bank likely to drop below the critical level of $2 billion by the end of September, said former finance minister Miftah Ismail on Wednesday. Addressing a meeting of businesspeople at the German consulate, the estranged PML-N leader who served two brief stints as finance
The mid-year United Nations survey on the world economic situation forecast that the inflation rate in Pakistan is expected to remain in double digits in the coming months owing to weakening local currency and supply-side constraints. Domestic food inflation remains elevated due to country-specific factors, challenging food security across the South Asian region, particularly in Afghanistan, Ba