Central bank increases policy rate by 100bps to 11.5pc – Business
The State Bank of Pakistan (SBP) on Monday raised its key policy rate to 11.5 per cent. In its meeting today, the Monetary Policy Committee (MPC) “decided to raise the policy rate by 100 basis points to 11.50pc” with effect from Tuesday, the SBP said in a statement. The hike is the first in almost […]
Central bank increases policy rate by 100 bps to 11.5pc – Business
The State Bank of Pakistan (SBP) on Monday raised its key policy rate to 11.5 per cent. In its meeting today, the Monetary Policy Committee “decided to raise the policy rate by 100 basis points to 11.50pc’“ with effect from Tuesday, the SBP said in a statement. On its website, the SBP said a “detailed […]
Pakistan, China sign 3 MoUs to boost desalination, agri technology, tea sector cooperation – Business
Pakistan and China on Monday signed three memoranda of understanding (MoUs) to strengthen bilateral cooperation in water desalination, agricultural technology, and the tea industry. President Asif Ali Zardari, who is on a week-long visit to China until May 1, witnessed the signing of the MoUs between Pakistani and Chinese entities. The MoUs reflect a focused […]
IMF executive board to meet on May 8 to approve disbursement of over $1.2bn to Pakistan – Business
ISLAMABAD: The International Monetary Fund (IMF) has called a meeting of its executive board on May 8 to approve the disbursement of more than $1.2 billion to Pakistan under two concurrent programmes — $7bn Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF), IMF officials told Dawn. Pakistan has qualified for the disbursement of […]
President Zardari underscores industrial cooperation, technology partnership during visit to China – Business
President Asif Ali Zardari on Sunday underscored the importance of bolstering industrial and technological cooperation with China, where he visited a heavy equipment manufacturer. The president arrived in China on Saturday for a week-long visit to the Hunan and Hainan provinces for engagements related to economic and trade cooperation. He will remain in Hunan’s Changsha […]
Power Division urges Nepra to abolish licence requirement, fee for solar consumers below 25kW – Business
Facing severe public criticism for “taxing sunlight”, the Power Division on Sunday directed the National Electric Power Regulatory Authority (Nepra) to abolish the licence fee and even the requirements of a licence for solar prosumers below 25 kilowatt capacity. In a statement issued on Sunday — a weekly holiday — the Power Division said that […]
Iran war jitters to influence policy rate decision – Business
KARACHI: It appears that the financial market is certain that the interest rate is bound to see a rise in the next monetary policy scheduled for Monday. At the same time, most experts believed that it was not inflation but the growing fears in the region, including Pakistan, due to the Gulf war, that would […]
Islamabad administration allows public, goods transport; revises business timings – Pakistan
ISLAMABAD: The capital administration on Saturday night allowed all types of public and goods transport to enter the city, while also revising business timings for a second time. The administration said all bus stands across the city were operational, except Faizabad. It said that the Faizabad bus terminal would remain closed until further notice. Separately, […]
KSE-100 drops 2,000 points as US-Iran deadlock persists
Selling hits banking, fertilisers, oil and gas stocks, KSE-100 hovers near 167,000, down 1.19% at midday KARACHI: The Pakistan Stock Exchange (PSX) remained under the hammer during Friday’s early trading as geopolitical tremors continued to fuel panic selling, eroding the benchmark KSE-100 Index by over 2,000 points by midday. After plunging nearly 2,400 points in […]
Generation capacity of at least 62,000MW needed by 2035 to support economic growth – Business
ISLAMABAD: The government has projected additional power generation capacity needs of 62,660 to 70,720 megawatt (MW) till 2035 to support the country’s economic growth of 3.5 per cent (low) to 6.4pc (high). This is part of the revised Indicative Generation Capacity Expansion Plan (IGCEP) 2025-35 and the Transmission System Expansion Plan (TSEP) 2025-35 prepared by […]