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KARACHI: The South Asia Pakistan Terminal (SAPT), in the second phase of development, plans to invest $240 million to expand existing facilities with two more berths of 700 metres in length and state of the art equipments, official sources said on Wednesday. SAPT Chief Executive Officer Capt S. Rashid Jamil...
KARACHI: The government has raised less than half of its target through the Market Treasury Bill auction on Wednesday. The State Bank of Pakistan reported the government raised Rs239.7 billion through T-bills, as against the target of Rs500bn. For the last several auctions, the government has been raising liquidity less...
ISLAMABAD: Prime Minister Imran Khan has said his government’s long-term policies will strengthen tax culture and bring economic stability to the country. Addressing a ceremony here on Wednesday to distribute refund cheques among prominent exporters, he said this disbursement of Rs30 billion would result in improved cash flow for taxpayers...
KARACHI: Petroleum refineries in Pakistan are facing a new crisis as rapidly declining furnace oil prices are denting their profit margins while they are searching in vain for potential buyers of the oil. “Furnace oil prices stood around 34% lower at Rs50,500 per ton at the beginning of November compared to...
ISLAMABAD:  The government’s priority is to improve labour standards in Pakistan and provide a favourable environment at workplaces to enhance the quality of labour force, said Adviser to Prime Minister on Commerce Abdul Razak Dawood. Speaking at the “Multi-Stakeholder National Consultation on Strategies and Partnership for Improving Coordination and Compliance...
ISLAMABAD: The Ministry of Maritime Affairs has sought immediate intervention of the government to force Pakistan State Oil (PSO) to pay outstanding wharfage charges of Rs1.7 billion to the Port Qasim Authority (PQA). According to an official, the ministry told the government that since PSO was importing liquefied natural gas (LNG),...
ISLAMABAD: Prime Minister Imran Khan on Wednesday directed the Ministry of Commerce to come up with a comprehensive plan within three days to identify the administrative measures required to ensure corruption-free trade under the Pak-Afghan Transit Trade arrangement. The prime minister gave the directive in a meeting held to review...
ISLAMABAD: Prime Minister Imran Khan on Wednesday directed expeditious release of $14 billion stuck up foreign loans against the ongoing development projects. The directive came as the bureaucracy fails to finalise a viable action plan to remove bottlenecks to unlock the much-needed stimulus funds. Over a month after The Express Tribune reported...
Pakistan stocks have outperformed the world’s leading stock markets during the last three months due to government’s steps to stabilise the country’s crippling economy. The rally that has helped Pakistan stocks trounce the rest of the world is however not done yet, Bloomberg reported on Wednesday. Large investors, including mutual funds and insurers,...
KARACHI: Merchandise imports sharply fell 19 percent year-on-year in the first four months of the current fiscal year as all the big-ticket products except machinery group posted double-digit decline in import, lending a significant support to the current account balance. Pakistan Bureau of Statistics (PBS) data on Tuesday showed that...

Opinion

deficit surplus current economic budget prices government economic

Current account update

That the current account is in surplus after four long years is welcome news, of course, but the government must also understand just why...