Govt rebuffs Saudi offer to acquire LNG power plants under sovereign deal
According to sources, Saudi Arabia asked Pakistan to give free land, complete security and utility facilities for establishing an oil refinery having 100,000 barrel per day (BPD) capacity at Gwadar
Kumho set to enter Pakistan’s tyre market
Century plans to build a tyre plant in Pakistan and starting with a million tyres per year it aims to increase the plant’s annual production capacity to five million in the long-term
IMF urges govt to raise more revenues and focus on structural reforms
Sources disclosed the IMF team saw the reliance on provincial cash surpluses worth Rs286 billion other additional subsidy elements not included in the updated budgetary forecasts may cause slippages
Pakistan cuts Chinese ‘Silk Road’ rail project by $2bn
The ML-1 is the spine of the country’s dilapidated rail network, as well as the biggest source of revenue
Is the policy to keep petrol prices unchanged sustainable?
The govt responded to this conundrum by correspondingly decreasing the applicable sales tax rates on high-speed diesel from the current 22 percent to 17.5 percent for high-speed diesel (HSD), for petrol from 9.5 percent to 4.5 percent and kerosene oil from 6 percent to 1.5 percent
Pakistan, IMF set to hold third round of talks today
The IMF team is visiting to review the macroeconomic situation of Pakistan and is led by its Washington-based Mission Chief, Harald Finger which constitutes of officials from the funds’ Lending Policy Division
Saudi delegation reaches Islamabad, may sign four MoUs
Riyadh is exploring the possibility of setting up an oil refinery at Gwadar and investing in LNG-based power projects in Punjab and a copper and gold project in Balochistan’s Reko Diq
Fearing debt trap, Pakistan rethinks Chinese ‘Silk Road’ projects
The ML-1 rail line is the spine of the country’s dilapidated rail network, which has in recent years been edging towards collapse as passenger numbers plunge, train lines close and the vital freight business nosedives
SBP raises key interest rate by 100 basis points to 8.5 percent
The central bank has downgraded GDP growth to 5.0 percent for FY19 from 5.5 percent previously
Imran Khan’s bid to crowdfund $14 billion for Pakistan dam
The government’s plan is to build two facilities: the Mohmand dam in the country’s northwest, widely seen as feasible, and the much larger, troubled Diamer-Basha project in the north, first mooted in the early 2000s
Govt rejects IMF request seeking details about CPEC
In a meeting on Friday with the Ministry of Finance officials, the US embassy officials raised the issue of transparency in CPEC deals
Rupee downslide restarts, plummets to two-month lows of Rs126 against dollar
The local currency has remained below Rs126 since the end of July when it appreciated against the greenback on news of Pakistan Tehreek-e-Insaf (PTI) winning the general elections
Govt may seek IMF’s help, hints Asad Umar
‘Pakistan could face difficulties if oil prices in global markets do not stabilise’
Furnace oil-based power generation to be phased out over coming few years: Nepra
The power sector regulator opposed any move to reduce power tariff for end-consumers, cautioning any such move being contemplated by the government could impact upcoming power projects
Pakistan has no choice but to seek IMF funding: UNCTAD
The report said a widening of the external debt position which had touched $92 billion or 31 percent of GDP had raised worries about its sustainability