Economy

The government has reduced the price of petrol by Rs7.06 per litre for the month of June, according to a statement issued by the Ministry of Finance on Sunday. According to the statement, the price of kerosene has been reduced by Rs11.88…
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The Economic Coordination Committee of the Cabinet on Saturday approved the criteria for disbursement of Rs.200 billion in power sector received through Islamic Sukuk. According to the decision made by the forum energy purchase price…
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By Zahid Hussain Khan A parallel economy is one that runs opposite to a formal or official economy. In a parallel economy, the goods and services produced are not brought under the tax net hence the government tends to be the loser at…
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President Donald Trump voiced hope Friday that a coronavirus vaccine will be available by late 2020, cushioning dire US economic news as parts of Europe re-open despite fears of a second wave of the pandemic. Several nations have eased…
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The Ministry of Finance has said that the rating review conducted by Moody’s Investor Service on 14th May 2020 does not downgrade Pakistan’s B3 rating. In a statement on Friday, the Ministry has said that the Moody’s Investor Service has…
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The United States on Friday recorded its steepest job losses in history over the coronavirus pandemic as Europe moved to keep its borders shut for another month. Hopes have been rising that the worst of the global catastrophe, which has…
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ISLAMABAD: On the recommendations of the Oil and Gas Regulatory Authority (OGA) the federal government on Thursday night slashed the price of petrol by Rs15. The price of petrol has been brought down to Rs81.58 after a reduction of…
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ISLAMABAD: The government has reduced the prices of petroleum products by up to Rs30 per litre to "extend maximum relief to public." According to an official notification issued by the Finance Division, the prices of petrol have been…
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The Oil and Gas Regulatory Authority (Ogra) on Wednesday recommended up to Rs44.07 per litre reduction in oil prices for the month of May. In a summary sent to the Petroleum Division, the authority has proposed a decrease of Rs33.94 to…
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The kingdom has so far recorded the highest number of cases in the Gulf with more than 17,000 infections and 139 deaths. Despite being frustrated by the lockdown, which has forced her and hundreds of thousands of others to abandon their…
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ISLAMABAD:  The Economic Coordination Committee (ECC) has approved two packages for unemployed labourers and another package for small business owners. Addressing a press conference after the ECC meeting, Federal Minister for Industries…
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Pakistan says Prime Minister Imran Khan's call for a Global Initiative on Debt Relief has been widely welcomed at the United Nations, including Presidents of the UN General Assembly and Economic and Social Council. In a press release…
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REUTERS: With the U.S. coronavirus death toll topping 51,000 and nearly one in six workers out of a job, Georgia, Oklahoma and several other states took tentative steps at reopening businesses on Friday, despite disapproval from President…
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The novel coronavirus has had a huge setback on oil prices around the globe. For the very first time in history, oil prices turned negative on Monday.
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India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak. India’s trade ministry said in a…
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