Petroleum Minister Dr Musadik Malik on Thursday warned of ‘isolated bankruptcy’ in the petroleum sector unless a weighted average price of imported, piped and wellhead gas was introduced along with rationalised electricity rates to incentivise transition for transport, cooking and heating purposes. Testifying before the National Assembly’s Standing Committee on Petroleum, Mr Malik also blamed t
Global credit rating agency Fitch on Friday acknowledged Pakistan’s progress when it came to making headway regarding economic stability. In a note, the agency said, “Pakistan has continued to make headway restoring economic stability and rebuilding external buffers.” Last year, the agency had upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to CCC+ from CCC on the
Exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, thus, the three-year goal of increasing exports to $60 billion may be missed, the Pakistan Business Council (PBC) told Prime Minister Shehbaz Sharif on Tuesday. What a paradoxical situation it is as the miseries of industries are an achievement for the government that has met an
US President Donald Trump's rhetoric and escalating trade tensions between the United States and China have fuelled panic among investors, driving them to seek refuge in gold. As a result, gold prices reached an all-time high on Wednesday. In Pakistan, the price of gold surged significantly, with per tola rates increasing by Rs5,300 to hit a record Rs299,600, according to data from the All-Paki
Nissan looks set to step back from merger talks with rival Honda, two sources said on Wednesday, calling into question a $60 billion tie-up to create the world's number 3 automaker and potentially leaving Nissan to drive its turnaround alone. Talks between the two Japanese automakers have been complicated by growing differences, according to multiple people familiar with the matter, all of whom