Economy
Aramco Asia Singapore Ltd., a Singaporean company wholly owned by Saudi Aramco, filed the pre-merger application with the CCP.
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Aramco Asia Singapore Ltd., a Singaporean company wholly owned by Saudi Aramco, filed the pre-merger application with the CCP.
The State Bank of Pakistan (SBP) opted to maintain the status quo on Monday, holding the key policy rate steady at 22% for the...
RIYADH: Pakistan’s Finance Minister, Muhammad Aurangzeb, highlighted the significant challenge posed by the undocumented economy in the country during a special meeting at the...
Prime Minister Muhammad Shehbaz Sharif and President of the Islamic Development Bank (IDB) Dr. Muhammad Sulaiman Al Jasser convened on Sunday to expedite the...
Tax returns could be filed by Dec 15, with the deadline extended ISLAMABAD: The provisional data released by the Federal Board of Revenue (FBR)...
KARACHI/ISLAMABAD: Karachi’s fishermen accidentally caught a humungous Indo-Pacific sailfish _ a rare fish which is famous as “ghora fish” among the locals. Ibrahim Hyderi’s...
ISLAMABAD: Russia declined to provide Pakistan with a 30-40% discount on Russian crude oil, claiming that all quantities were already committed and that it was unable to make any offers at this time. During negotiations in Moscow, the Pakistan delegation—which included State Minister for Petroleum Musadik Malik, the joint secretary, and representatives of the Pakistan Embassy in Moscow—asked for a reduction. The negotiations came to an impasse, but the Russian side made a commitment to take Pakistan’s proposal into consideration and to subsequently communicate its position through diplomatic channels. According to sources, Russia can provide oil at rates similar to what it is offering to major consumer countries with stable economies, at an appropriate time. All quantities are currently contracted with significant purchasers, they claimed. The Russian side urged Pakistan to begin by fulfilling its commitment to the Pakistan Stream Gas Pipeline, that is to be built from Karachi to Lahore, Punjab. During the negotiations, the Pakistani side expressed a desire to alter the PSGP project’s model. The Russian side said that just a few provisions of the shareholding agreement needed to be finalized and that the model of the project under the GtG structure had already been established. The official delegation from Pakistan arrived in Moscow on November 29 for a three-day round of talks with Russian officials to explore the possibility of importing crude oil at a reduced price, as well as the mechanism of payment and shipping costs. Russian crude oil may be processed in Pakistan’s refineries, and one private refinery has previously used Russian crude oil to provide finished goods, according to sources in the industry ministry.
In his video address, Dar said that only the prices of kerosene oil and light diesel are being reduced for next 15 days.
Inflation to Show a Marginal Decline, Economic Slump a Global Issue: Inflation to Show a Marginal Decline, Economic Slump a Global Issue ISLAMABAD: Inflationary...
Mufti Taqi says all sects want riba-free banking in Pakistan: Mufti Taqi says all sects want riba-free banking in Pakistan KARACHI/ISLAMABAD: Pakistan’s renowned religious...
Europe still remains the largest buyer of Russian diesel as half of EU and UK seaborne diesel imports are originating from Russia. Europe and...
ISLAMABAD: The State Bank of Pakistan (SBP) today received $500 million from the Asian Infrastructure Investment Bank (AIIB). “AIIB today transferred to State Bank of...
