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Pakistan requests China’s $1.3 billion in loans be refinanced quickly
Pakistan requests China’s $1.3 billion in loans be refinanced quickly. It was reported that Cash-strapped Pakistan has urged its staunch friend China to expedite the refinancing of $1.3 billion in expiring commercial loans and informed them of the dimming chances of the renewal of the IMF loan program.
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Pakistan and Denmark decide to increase their cooperation in the field of renewable energy
It was reported that in accordance with the newly signed Green Framework Engagement Agreement, Pakistan and Denmark have decided to expand their cooperation in the field of renewable energy. The agreement was reached during a meeting between Danish Minister for Development Cooperation and Global Climate Policy, Mr. Dan Jrgensen, and Minister of State for Foreign…
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Budget 2023–24: Imported secondhand cars with engines larger than 1,300cc will cost more
Budget 2023–24: Imported secondhand cars with engines larger than 1,300cc will cost more. It was reported that the government has removed the upper limit on fixed tariffs and taxes that applied to the import of used and older vehicles of “Asian Makes” that were over 1,300 CC. The change, according to a representative of the…
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SBP will release its monetary policy on June 12th
SBP will release its monetary policy on June 12th. It was reported that in a statement released here on Friday, the central bank announced that the Monetary Policy Committee (MPC) would meet on June 12 to review the overall financial situation of the nation, economic indicators, and performance of various internal and external sectors before…
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Pakistan chooses to do barter trade with Russia, Iran, and Afghanistan
Pakistan chooses to do barter trade with Russia, Iran, and Afghanistan. It was reported that the Ministry of Commerce announced on Friday that Pakistan has passed a special order allowing barter trading for specific items, including gas and oil, with Russia, Iran, and Afghanistan.
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FBR falls short of its FY23 tax goal.
FBR falls short of its FY23 tax goal. It was reported that the details indicate that FBR has collected Rs 572 billion in net revenue as opposed to the Rs 621 billion goal set for May 2023. In total, FBR has collected Rs 6213 billion in the first eleven months of the current fiscal year,…
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Pakistan and Russia will have a direct shipping connection
From the following week, Pakistan and Russia will have a direct shipping connection. It was reported that a spokesman of a shipping agency said on Friday that Pakistan is prepared to welcome the first container ship directly from Russia at the Karachi harbor the next week, opening the door for quick and direct access for…
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ECC grants the ASPIRE programme a Rs 4 billion TSG.
ECC grants the ASPIRE programme a Rs 4 billion TSG. It was reported that the Activities to Strengthen Performance for Inclusive and Responsive Education (ASPIRE) programme being undertaken with the financial help of the World Bank had received approval from the Economic Coordination Committee (ECC) for a technical supplemental grant (TSG) of Rs4 billion.
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In April 2023, Pakistan’s petroleum sales fell by 47%.
In April 2023, Pakistan’s petroleum sales fell by 47%. It was reported that a total of 1.2 million tonnes of petroleum products were sold in Pakistan in April 2023, a 47% YoY decline and a 6% MoM rise. Low sales of furnace oil and high speed diesel, which fell by 84% year over year and…
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Trade deficit decreases by 39.62% to $23.71 billion over the July-April FY23
The trade deficit decreases by 39.62% to $23.71 billion over the July-April FY23 period. It was reported that the trade figures issued by PBS on Tuesday, the nation’s exports between July and April of 2022–23 were $ 23.174 billion, down from $ 26.247 billion between July and April of 2021–22. This represents a loss of…
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Pakistan is notified by India over the Indus Waters Treaty
Pakistan is notified by India over the Indus Waters Treaty. It was reported that Pakistan has stated that while it is open to hearing India’s concerns about the treaty, it cannot violate or materially violate any of its terms as a lower riparian nation.
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Pakistan sets new petrol rates that will take effect on April 16, 2023
Pakistan sets new petrol rates that will take effect on April 16, 2023. It was reported that the Pakistani government will announce new fuel rates for the second half of April 2023. The new prices are expected to take effect on April 16. Due to the recent drop in the Pakistani rupee’s value relative to…
