Oil prices eased about one per cent on Tuesday as US President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports. Earlier in the day, prices hit a two-week high on worries that instability in the Middle East could reduce oil supplies, and hopes that economic sti
Pakistan’s energy sector is being managed by inexperienced and irresponsible individuals, which is leading the country’s economy toward a disaster, deplored Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Mohammad Saleem Memon on Tuesday. Raising concerns about the government’s inconsistent and contradictory energy policies, he said expensive independent power producer
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has developed a comprehensive Charter of Economy to foster political consensus for an effective strategy to address challenges. The charter was presented to Finance Minister Muhammad Aurangzeb in a meeting on Tuesday, seeking to free the country from its economic calamities by prioritising its development and growth, particula
The Central Development Working Party (CDWP) on Tuesday cleared six projects with an estimated cost of Rs151.32 billion. A meeting of the CDWP, presided over by Planning and Development Minister Ahsan Iqbal, requested the Executive Committee of the National Economic Council (Ecnec) to formally approve two projects worth Rs140.129bn, and itself approved a total of four projects worth Rs11.2bn
Pakistan’s raw food exports rose 4.17 per cent to $5.17 billion during the first eight months of the current fiscal year compared to $4.96bn in the corresponding period last year, mainly driven by a significant rise in sugar and rice shipments. The exports have risen for 19 consecutive months despite unprecedented food inflation in the country’s history. Consumers nationwide are paying higher p