The government will not opt for any new power project run on expensive imported fuel in the future, Federal Minister for Power Khurram Dastgir declared on Wednesday. Speaking at a press conference here, he said that the foundations for the provision of inexpensive electricity under the leadership of Prime Minister Shehbaz Sharif were being laid by the government, adding that a proposed solar en
Pakistan on Wednesday expressed hopes the recent “smooth and successful” on-site visit of the Financial Action Task Force’s (FATF) technical team would lead to a “logical conclusion” — its exit from the grey list next month. A 15-member joint delegation of the FATF and its affiliate Asia Pacific Group paid an on-site visit to Pakistan from Aug 29 to Sept 2 to verify the country’s compliance w
Oil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage in the United States, the world’s biggest crude consumer. Brent crude futures was up by 2 cents to $94.12 a barrel by 0324 GMT, while US West Texas Intermediate crude rose 18 cents, or 0.2 per cent, to $88.66. “The oil price has been pricing in a global recession, but ev
Bulls lifted the benchmark index of the Pakistan Stock Exchange in the first half of the trading session on Tuesday. However, subsequent profit-taking shaved off the earlier gains even though the index still closed in the positive territory, said JS Global. A lack of triggers resulted in a dull-volume session, it added. According to Arif Habib Ltd, trading remained range-bound because invest
The International Monetary Fund (IMF) is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday, sources familiar with the matter told Reuters. The plan, which has not previously been reported, will be presented at an informal board session. It would allow the IMF to help Ukraine and ot
