An interesting tussle is on within the expanded Organisation of Petroleum Exporting Countries, the OPEC+. To some, propping up the market prices is of utmost importance, while to others, increasing their market share is of optimal interest. And the two objectives are diametrically opposed to each other. While Saudi Arabia, in conjunction with Russia, is striving hard to put a floor beneath the
The total outstanding balances and undisbursed commitments of the non-sovereign transactions of Asian Development Bank (ADB) in Pakistan amounts to $242.48 million by the end of 2022. The latest fact sheet on Pakistan released by ADB showed total commitments in non-sovereign loans, equity investments and guarantees from ADB’s own funds in 2022 amounted to $1.1 billion for 37 transactions in eco
The government has formally acknowledged that imported liquefied natural gas (LNG) has become the most expensive fuel for power generation in the country, even surpassing furnace oil for whose replacement the multibillion-dollar LNG infrastructure was set up in the first place almost a decade ago. In a major decision setting the reference power-purchase tariff for each month of the current fisc
Acting upon the old adage of “buy on rumours, sell on news,” investors on Thursday offloaded their positions following a long bull run ending with the receipt of $1.2 billion from the International Monetary Fund (IMF). Topline Securities said the IMF news helped the benchmark index make an intraday high of 456 points before closing in the red territory. Data from National Clearing Company sh
Finance Minister Ishaq Dar said on Thursday that the International Monetary Fund (IMF) had transferred $1.2 billion to the central bank’s account. He made the remarks while addressing the media a day after the global money lender approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled economy. The board approved the bailout package for the country for an