The IMF on Tuesday delivered a major U-turn on its forecast for the UK economy, saying it expected growth this year, just one month after predicting a contraction. Britain’s economy is now expected to expand by 0.4 per cent in 2023, the International Monetary Fund said in its latest outlook document which partly cited weaker energy prices. The institution ripped up its previous forecast in A
Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday announced suspension of motorcycle production till June 10 due to shortage of inventory. In a stock filing, the company said the automobile plant would remain operative.
Finding it extremely difficult to survive amid dwindling foreign exchange reserves and import curbs with a weaker rupee and unprecedented inflation, the business community has sought out-of-the-box solutions in the upcoming budget to prevent industry closures and job losses. During a meeting with the Senate Standing Committee on Finance and Revenue on Tuesday for discussing budget proposals fo
With a majority vote, the National Electric Power Regulatory Authority (Nepra) on Tuesday rejected on technical grounds, rather than on its merits, a federal government’s request to increase electricity tariff for K-Electric consumers by an average Rs3.5 per unit for three months. Interestingly, Nerpa had conducted the joint public hearing on two requests by the government for increasing the KE
Pakistan exported a significant quantity of sugar during the February-April period of this fiscal year which pushed up domestic retail prices of the sweetener. In comparison to the same period last year, where there were no foreign sales, the country successfully exported a substantial quantity of 212,896 tonnes of sugar in FY23, according to data compiled by the Pakistan Bureau of Statistics.