The Oil and Gas Regulatory Authority (Ogra) on Monday notified a 13 per cent reduction in the price of re-gasified liquefied natural gas (RLNG) for October as the international spot market remained out of reach of Pakistan and average cost of cargos under a long-term contract slightly came down with oil price cut. The basket RLNG price was also lower because of four cargos, instead of usual two
The rupee suffered losses for the fourth day as it depreciated by 46 paise against the US dollar in the interbank market on Monday making it difficult for the government and the State Bank of Pakistan to stabilise the exchange rate. According to the SBP, the dollar traded at Rs218.89 compared to Rs218.43 the previous day. However, the Exchange Companies Association of Pakistan (ECAP) reporte
Former finance minister Miftah Ismail said on Monday Pakistan is “intolerant as hell” and “belligerently uneducated” as the elite capture of resources has left no space for reforms. Speaking at Habib University, the businessman-turned-politician wore the hat of an economics professor to talk to students in the uneasy presence of the educational institute’s rich benefactors who have “invented th
Rarely have things been as messy as they are today. Political and economic crises are not unusual in Pakistan’s history. But, in previous episodes, it was actually possible to see one or two points of origin from where the troubles were emanating, a relatively clear path out of the crisis was usually visible, and somebody — whether civilian or military — was ready and willing to undertake the t
In its latest forecasts, the International Monetary Fund (IMF) says Germany and Italy will be in recession next year, and GDP growth in the US will be just one per cent, down from an estimated 1.6pc this year. Bad news for Pakistan exports. The Fund also says that economic growth in China will inch up to 4.4pc in 2023, up from an estimated 3.2pc in 2022. Growth in Britain will be a negligible 0