Year: 2022

Crude Oil & Gasoline prices have been a hot topic for almost everyone recently. As inflation surges, consumers are feeling the increased pricing pressures from all sides right now. It is starting to reflect in the use of credit cards, discretionary spending habits, and summer holiday travel plans. As the US Fed adjusts rates to burst inflation trends, consumers are left trying to navigate a minefield of unknowns. How far will the Fed have to raise rates – and how quickly? Will this affect the jobs/housing markets? How will this affect credit/borrowing costs? Will a…

Read More

Despite country’s mining and quarrying sector shrank by 4.5 percent in July-March 2021-22, production of coal, natural gas, crude oil, and iron ore increased in the same period, latest economic survey showed on Thursday. During nine months of the current fiscal, production of major minerals increased such as coal by 8.34 percent, natural gas by 3.45 percent, chromite by 25.7 percent, crude oil by 4.48 percent, iron ore by 1.5 percent, soapstone by 7.47 percent, and barytes production up by 162.5 percent over last year. However, some witnessed negative growth,…

Read More

The National Assembly on Thursday passed “The Export-Import Bank of Pakistan Bill, 2022” with a majority vote aimed at establishing a facility for the promotion of international trade. The bill was moved by Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha in the house for passage. The house passed the bill with a majority after reading clause by clause. Under this proposed law, the Export-Import Bank of Pakistan will be established. The bank will obtain reinsurances from any foreign agencies or any insurance companies in or outside…

Read More

The International Monetary Fund (IMF) has asked Pakistan’s government to renegotiate the China-Pakistan Economic Corridor (CPEC) energy deals before making payments of around Rs300 billion to the Chinese power plants, putting Islamabad in a tight spot. The global lender has asked the government to treat the Chinese CPEC power plants at par with the power plants established under the 1994 and 2002 power policies, highly placed sources told The Express Tribune. These plants had been set up under the CPEC framework agreement. The IMF’s demand came after China’s refusal in…

Read More