With a view to facilitating the stakeholders in providing relief and rehabilitation support to the affectees of torrential rains and flash floods across the country, the State Bank of Pakistan has decided to allow foreign remittances on account of donation and charity through home remittance channel with immediate effect. According to an SBP circular, for consumers to business, there is no l
Commerce Minister Naveed Qamar on Wednesday said that the government was committed to providing a level playing field and reducing the cost of doing business for export-oriented sectors to bring down the current account deficit. He expressed these views while addressing a virtual session organised by South Punjab Investment Forum in collaboration with USAID. “I am glad to inform you that te
The government will not opt for any new power project run on expensive imported fuel in the future, Federal Minister for Power Khurram Dastgir declared on Wednesday. Speaking at a press conference here, he said that the foundations for the provision of inexpensive electricity under the leadership of Prime Minister Shehbaz Sharif were being laid by the government, adding that a proposed solar en
Pakistan on Wednesday expressed hopes the recent “smooth and successful” on-site visit of the Financial Action Task Force’s (FATF) technical team would lead to a “logical conclusion” — its exit from the grey list next month. A 15-member joint delegation of the FATF and its affiliate Asia Pacific Group paid an on-site visit to Pakistan from Aug 29 to Sept 2 to verify the country’s compliance w
Oil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage in the United States, the world’s biggest crude consumer. Brent crude futures was up by 2 cents to $94.12 a barrel by 0324 GMT, while US West Texas Intermediate crude rose 18 cents, or 0.2 per cent, to $88.66. “The oil price has been pricing in a global recession, but ev