ISLAMABAD : The 2023–24 budget, according to Finance Minister Ishaq Dar, focused on economic development and was thus distinct from other budgets. In answer to a question during the post-budget news conference in the nation’s capital, Dar said that the government was developing a “Plan B” in the event thatRead More →
ANKARA (AP) — Recep Tayyip Erdogan was re-elected as president of Turkey last month, even though the economy is in bad shape and there is a cost-of-living problem that experts say is made worse by his unusual economic policies. The longtime leader put a well-known former banker in charge ofRead More →
KARACHI, (Reuters) – According to the Ministry of Commerce, Pakistan has issued a special order allowing barter commerce with Afghanistan, Iran, and Russia for specific items such as petroleum and natural gas. Pakistan’s government is frantically attempting to handle a balance of payments crisis and keep inflation under control afterRead More →
ISLAMABAD – The government has resolved to eliminate customs fees and extra customs levies on Turkish imports until 2033. According to the FBR, charges on glucose, glucose syrup, taste powder, dog and cat food have been eliminated, while duties on 133 goods, including corn flakes, mosquito killing sprays, and electricRead More →
TOKYO, (Reuters) – Oil prices surged more than 2% on Friday as energy companies reported strong results and U.S. statistics showed oil production dropping while fuel demand increased. Brent futures for June delivery increased $1.17, or 1.5%, to $79.54 a barrel on their last day as the front-month, while theRead More →
ROME : (Reuters) Claudio Descalzi, the CEO of the Italian oil and gas firm Eni (ENI.MI), has said that he does not anticipate any “big shocks” in the energy markets this year. Descalzi said in an interview with La Stampa newspaper that “European gas storages are full and, although theRead More →
According to figures released by the State Bank of Pakistan (SBP) on Monday, Pakistan’s Real Effective Exchange Rate (REER) decreased sharply in January from 96.2 in December to 92.8. The results showed that the REER decreased 4.4% yearly. The REER value decreased by 3.57% per month. The Nominal Effective ExchangeRead More →
The All Pakistan Textile Mills Association (APTMA) has warned the government that large layoffs would occur shortly, resulting in severe unemployment for more than 10 million people in Punjab. APTMA has asked the government in a letter to the premier to establish a fair playing field throughout the nation byRead More →
ISLAMABAD (Web desk) – According to figures from the Pakistan Telecommunication Authority (PTI), the telecom industry in Pakistan produced record earnings of Rs 694 billion during the fiscal year 2021–22 as opposed to Rs 651 billion during the same period in 2020–21. The authority claims that the past quarter’s growthRead More →
The State Bank of Pakistan (SBP) announced on Friday that there will be an extra three months of cash margin limitations on the import of around 177 items. In an attempt to limit imports, the SBP decided to impose cash margin limitations on a number of imported items early thisRead More →
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