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Oil prices have a huge impact on the global economy. Oil accounts for 3% of global GDP. Higher oil prices will lead to an improvement in the current account position of oil exporters like OPEC countries. Oil demand fell in 2020 amid the pandemic as the price fell below zero for the first time in…
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Minister of State for Petroleum Musadiq Malik said the shortage of natural gas would persist this winter like last year. Demand for gas in the domestic sector is increasing while supply is decreasing. Government Blamed Imran Khan’s administration for failing to contract the cheapest LNG available at the time and for no improvement in domestic…
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Pakistan is expected to lose a large portion of its rice exports to international market, but its basmati presence in Middle East is likely to remain.
India became the fifth largest economy in the world, overtaking the United Kingdom. A decade ago, India was the 7th largest economy, while Britain was 5th.
United Nations issued a $160 million flash appeal to help Pakistan deal with devastating floods that have killed more than 1,100 people.
Pakistan received first aid flights from the United Arab Emirates and Turkey on Sunday. UAE will send 15 more planes carrying relief supplies to flood-hit areas of Pakistan in the coming days.
Board of International Monetary Fund (IMF) is set to meet today (Monday) to consider a loan plan for Pakistan, as officials in the cash-strapped country expect a month to come.
The IMF’s $1.2 billion loan program for Pakistan is expected to begin later this week. The IMF Executive Board may meet before August 20. Pakistan and the IMF signed a $6 billion bailout agreement in 2019.
Prime Minister Shahbaz Sharif on Friday said that the government has decided to impose 10% super tax on major industrialists including oil, fertilizer, steel, sugar, automobile and textile. The Prime Minister announced after chairing a meeting of his economic team in which important decisions were taken regarding the budget 2022-23. In a televised address, the…
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