The Executive Committee of National Economic Council (Ecnec) on Monday approved 10 out of 11 proposed development projects costing R 172.7 billion. A project presented by the Ministry of Health was deferred, requiring further clarification before approval. The meeting was chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar. Six of the approved projects belonged to the province
Oil prices fell more $2 on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior US officials. Brent crude futures were down $2.02, or 2.69 per cent, at $73.15 a barrel by 9:57 a.m. CST (1557 GMT), while US West Texas Intermediate crude futures were down $2.08, or 2.92pc, at $69.16 a barrel. Israel
The tight lockdown of major cities, motorways and national highways imposed by the government to thwart PTI’s march on the federal capital has started breaking down the supply chain of petroleum products, particularly in Punjab and Islamabad. Senior government officials said the POL-carrying tankers and lorries movement had been severely affected in major cities because of official barricades.
Pakistan’s foreign assistance inflows fell by more than 55 per cent to about $2.7 billion in the first four months (July-October) of the current fiscal year, apparently because of delays in securing a bailout from the International Monetary Fund (IMF) and subsequent $1bn disbursements. Last year, inflows had amounted to $6.05bn in these four months. In its monthly report on Foreign Economic Ass
About 90 per cent of bankers believe that cybercrime is the biggest challenge confronting banking in the country, according to a survey conducted by PricewaterhouseCoopers-PwC Pakistan. Seventy per cent list fraud as their major concern and 60 per cent believe terrorism financing is the biggest threat, the survey showed, “Banks in Pakistan operate within an evolving financial crime compliance e