Year: 2022

Finance ministry says geopolitical risk threatens economic stability

Admin

Finance ministry on Monday said an escalated conflict between Russia and Ukraine could keep inflationary and balance of payment pressures in the economy for longer as the crisis would likely further increase energy costs and commodities prices. “The main risk for Pakistan’s economy is that these developments [Russia-Ukraine conflict] may further delay the downward correction in inflation and improvement in the current account balance,” the ministry stated in its monthly economic outlook report. The Ukraine crisis is a considerable risk factor to the otherwise positive outlook for Pakistan’s economy, according…

Read More

LPG price increases by Rs318.74 per 11.8-kg cylinder

Admin

The oil and Gas Regulatory Authority (OGRA) on Monday issued a price-revision notification of Liquefied Petroleum Gas (LPG) for the month of March, increasing the commodity price by Rs318.74 per 11.8-kilogram cylinder. According to the notification, the authority increased the locally produced LPG price by Rs 27.01 per kilogram. After the revised price, the LPG cylinder would be sold in the open market at Rs2758.67, which was available at Rs2439.93 in February. Whereas the per Metric Ton (MT) LPG rate has been fixed at Rs233,785.88 for the month of March,…

Read More

Pakistan’s new National Security Policy: Test lies in implementation

Admin

Pakistan’s recently announced national security policy is undoubtedly a “paradigm shift” from the country’s traditional military-dominated strategy to economic security, nonetheless, experts say the real challenge will be in putting the ambitious plan into action. Islamabad announced its first-ever national security policy in January, prioritizing economic security over military security, though the South Asian nuclear state will stick to its traditional military security strategy in the face of rising tensions with longtime rival India. Said Nazir, a retired officer and Islamabad-based security analyst, told Anadolu Agency that Islamabad, for the…

Read More

Pakistan: Power Regulator says tariff to be increased by Rs 5.95 per unit

Admin

P Islamabad [Pakistan], February 28 (ANI): Pakistan’s Power Regulatory Authority on Monday said that it is likely to increase the power tariff by PKR 5.95 per unit underthe monthly fuel adjustment plan.The Central Power Purchasing Agency (CPPA) filed a petition and urged an increase of Rs 6.10 for the month of January 2022 under monthly fuel adjustment however before the hike by the power authority the data was analyzed. The National Electric Power Regulatory Authority (NEPRA) said that it reserved its judgment on a petition by CPPA and said that…

Read More

Khan After Putin Visit: Pakistan to Import Wheat, Gas from Russia

Admin

Pakistani Prime Minister Imran Khan announced Monday that his country will import about 2 million tons of wheat from Russia and buy natural gas as well under bilateral agreements the two sides signed last week during his official trip to Moscow. Khan pressed on with his two-day visit and met with President Vladimir Putin at the Kremlin on Thursday, hours after Russian forces invaded Ukraine, with Western countries pushing to isolate the Russian leader for his actions. On Monday, the Pakistani prime minister defended his trip and responded to critics…

Read More