Day: November 3, 2021

The deadlock on the timeline of implementing the qualitative and quantitative conditions contained in the Memorandum of Economic and Financial Policies (MEFP) remains a hurdle in the successful completion of the 6th review under the $6 billion Extended Fund Facility (EFF). This was revealed by a senior official in the Ministry of Finance while talking to Business Recorder on condition of anonymity. The 6th review under the EFF is expected to conclude soon, he added, but at the cost of contractionary policies which may lower GDP growth projections while raising inflation estimates…

Read More

Full throttled economic activities during the post corona and artificial intelligence era will open new avenues of employment for the nations fully prepared to cash out the emerging opportunities, said Engineer Ahmad Hasan, Chairman FCCI Standing Committee on CPEC and Research & Development.� Presenting the agenda during the first meeting of the committee here on Tuesday,he explained in detail the vision of Research & Development (R & D) and said that we must exploit social media and YouTube with project focus areas and it’s trickled down effects on the national…

Read More

In this regard an agreement was signed between the Ministry of Economic Affairs, Pakistan and Germany’s Federal Ministry for Economic Cooperation and Development. The signing was witnessed by Omar Ayub Khan, Federal Minister for Economic Affairs. Speaking on the occasion, the minister appreciated Germany’s enhanced bilateral economic cooperation with Pakistan. He said both countries were long-standing development partners and congratulated both sides on completing 60-years of development cooperation. The biennial Negotiations on Development Cooperation were also between the two countries at the Economic Affairs Division in the federal capital. Mian…

Read More

Indian Oil Corp, the country’s biggest state-owned refiner, has been running its nine refineries at an average run rate of around 90% in October, company officials said Oct. 26. In September, IOC recorded an 82% average run rate for its nine refineries compared with 83% a year ago month. They said the higher runs were on account of an improvement in demand for transportation fuels, mainly gasoline and diesel, as the threat of a third wave of the coronavirus pandemic waned in Asia’s third-largest economy. Separately, India’s average refinery run…

Read More

During the entire pandemic period Pakistan has maintained some economic activities and now it is making good recovery as the global economy is taking a liftoff. This unexpected global recovery is creating nightmares for the energy sources and is disrupting its entire supply chain, including the downstream. As a result of the revival, shortages and price hikes are becoming rampant, not only for the food, raw materials, parts, and the merchandise, but also for the energy supplies, the lifeline for the everyday life and all kinds of economic activities! Transportation,…

Read More