Saudi officials on Tuesday lamented the economic strain of regional conflicts as the country’s sovereign wealth fund told an investor forum it was cutting the proportion of its overseas investments. Despite a performance by South African opera singers and a remote appearance by Elon Musk, the mood at the glitzy Future Investment Initiative (FII), sometimes called “Davos in the desert”, was clou
Expressing deep concern over the financial mismanagement of Pakistan Post, Privatisation Minister Abdul Aleem Khan has urged the department’s management to abolish all vacant positions, cut unnecessary expenses and increase revenue to ensure the institution’s survival. “Day and night efforts are needed to prevent the collapse of Pakistan Post,” Mr Khan said while chairing a meeting of the ‘Foca
The two gas utilities — SNGPL and SSGCL — have sought up to a 54 per cent increase in prescribed prices to meet their revenue requirements for the current fiscal year (FY25). Gas prices are revised twice a year under the law, based on determinations by the Oil & Gas Regulatory Authority (Ogra), which the government uses to set consumer prices for various categories. Ogra has announced public
In a move to bring property valuations closer to market rates, the Federal Board of Revenue (FBR) has raised property valuation rates to up to 80 per cent across 56 cities, aiming to boost revenue collection and redirect investment into more productive sectors of the economy. The new rates will take effect from Nov 1. This latest revision covers 12 new cities, including Bannu, Chiniot, Kotli
Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, said the World Bank on Tuesday. In its latest Commodity Markets Outlook (CMO), the bank said that despite this drop, the overall commodity prices will remain 30 per cent higher than they were in the five