Business

Moscow to reduce production next month in response to new western sanctions

Wheat, sugarcane and Basmati rice to see increase by 26%, 21% and 189% respectively

Says Pakistan’s government liquidity and external vulnerability risks are elevated

Urges govt to plug revenue leakages from electricity, gas, loss-making entities

With price hike, govt will receive Rs237b more from electricity consumers

World Bank suggests harmonising direct taxes, lowering import duties

Insists it should be consulted prior to closing any website

At public hearing, regulator asked whether KE followed economic merit order

Ombudsman says justice is delayed in one of five cases due to unresponsive attitude of banks

Input costs have risen due to rupee devaluation, rise in global price of raw material

Decrease by $170m to $2.9b in week ended on Feb 3

Currency regains Rs2.82 against dollar, hits nine-day high

Says commercial banks deliberately targeting German firms by refusing to open LCs

Farmers say counterfeit seeds coming in from Punjab are causing big losses

Fears of shortage as company is allowed to open only two LCs for the month

The low forex reserves, currently at a nine-year low, raise the risk of default on foreign debt repayment

To break deadlock, Dar met mission chief but IMF did not share MEFP draft

Identifies 19 illegal warehouses in Punjab; Musadik says fuel supplies adequate

Raises questions over credibility of figures released

Chinese demand recovers while supply remains limited

Global, domestic economic conditions force nations to reduce participation

Gives directive to include field experts in board of governors

Company notification says decision made due to shortage of inventory

Illegal trade of cigarettes causes annual losses of Rs100 billion to national exchequer

If Pakistan defaults, they say, inflation will rise, there will be shortages of food, medicines and fuel

Bank has only offered to finance the portion severely damaged by floods

Smugglers sell around $5m a day to the Afghans, warns ECAP general secretary

Monetary benefit sought by railways constitutes violation of RoW policy, says IT minister

PCMA says move will pave the way for more and will relieve country’s forex reserves

Urge govt to control rupee free fall instead, declare economic emergency

New computing technology has been rated the fastest-growing consumer app in history

Global layoffs trend now grips Pakistan’s IT sector as well

He is a certified fraud examiner from the Association of Certified Fraud Examiners (USA)

Data shows SBP projects no foreign debt inflows for next 12 months

Only one in six bank accounts run by a woman in Pakistan

Microsoft’s $2.1b, Oracle’s $1.5b investment will solidify Kingdom’s position in ME

Show interest in technology transfer to footwear industry

Startups are real strength of the digital economy, says DCO secretary general

NTDC completes construction work on 29km double-circuit transmission line

Urge the need to address coordination gap in the energy sector

Says balance of trade and remittances likely to be recorded in deficit – not surplus as projected

Premier hits out at division for not briefing cabinet on factors behind power disruption

Ad hoc measures such as withholding taxes will worsen output, employment situation

Wholesale Grocers Association says 2,000 of 7,000 containers released from port

Cement sector, which depends on imported coal, can be a sizable market for Thar coal

40% of India’s three-wheelers are electric, while China dominates global EV sales

Any miscalculations on Pakistan’s part can impact its economic and geopolitical standing

Business process outsourcing offers unique opportunity to bring dollars

Taskforce submits interim report to global lender on institutional framework of anti-graft environment

Technical talks with IMF extended into next week