The government is anticipated to implement another significant hike in gas prices, averaging up to 41%, by mid-February, as part of the ongoing $3 billion loan programme with the International Monetary Fund (IMF). This move is expected to trigger a new wave of inflation in a market already grappling with persistent price pressures. The IMF asserts that increasing gas prices is essential to curb
Oil prices inched up Tuesday, as traders weighed production outages in the US and tensions in the Middle East and Europe against rising crude supply in Libya and Norway. Brent crude futures were up 30 cents, or 0.4%, to $80.36 a barrel at 1618 GMT. US WTI crude futures gained 46 cents, or 0.6%, to $75.22 a barrel. In the ME, tensions rose the morning after US and British forces carried out a
Pakistani currency maintained its uptrend for the fifth successive working day on Tuesday, appreciating to a new three-month high above Rs279.50 against the US dollar in the inter-bank market in the wake of improved inflows of the foreign currency compared to its demand. According to State Bank of Pakistan’s (SBP) data, the rupee improved 0.02%, or Rs0.06, and closed at Rs279.79 against the gre
The top leadership has decided to press ahead with all mega gas projects including the Iran-Pakistan (IP) pipeline to meet the growing consumer demand in future. Sources told The Express Tribune that the Petroleum Division had conducted a study on the requirement and future demand for gas projects. The detailed study had been commissioned to define the current and projected supply of gas fro
The federal cabinet, under the leadership of Prime Minister Anwaarul Haq Kakar, on Tuesday deferred the approval of the restructuring plan for the Federal Board of Revenue (FBR) due to questions regarding the mandate of the caretaker government and the perceived complexity of the proposed scheme. A sub-committee, headed by the finance minister, has been formed to review the restructuring plan a