Oil prices gained one per cent on Monday as US President Donald Trump said he will impose a 25pc tariff on countries that buy oil and gas from Venezuela. Price gains were capped, however, as the US gave oil producer Chevron until May 27 to wind down its oil operations and exports from Venezuela. Trump had initially given Chevron 30 days from March 4 to wind down that licence. The two moves t
Calling for regional cooperation to mobilise climate finance and ease political tension and restrictions to foreign direct investment, the Asian Development Bank has advised Pakistan to go for full merchant adoption and digital payment systems. In its ‘Asian Economic Integration Report 2025’ released on Monday, the Manila-based lending agency noted that the Asian region had a greater potential
Prime Minister Shehbaz Sharif on Monday vowed to revitalise the country’s agriculture sector, achieve food self-sufficiency, and boost farm exports. “In the next few years, an agricultural revolution can be brought to Pakistan if the federal government, in collaboration with provinces, provides reasonably priced inputs to farmers. The country needs a conducive environment to exploit the agri po
Pakistan’s trade deficit with nine neighbouring countries swelled by 36.09 per cent to $7.36 billion during the first eight months of FY25 from $5.41bn in the corresponding period last year. Recent regional political shifts have spurred exports to Bangladesh, Afghanistan, and Sri Lanka. However, Pakistan’s trade with these nations has faced significant setbacks in recent years, attributed to
The Ministry of Finance is inducting six professionals from the market to operationalise the Tax Policy Office (TPO), which will directly report to the finance minister in line with commitments made with the IMF under the $7 billion Extended Fund Facility (EFF). The ministry on Monday sought applications for the positions — one for the director general of TPO and five directors having different