Global energy giant Shell Petroleum on Wednesday made the strategic decision to sell its shares and decided to exit the Pakistani market. Board of Directors of Shell Pakistan Limited (SPL) held a meeting with its parent firm Shell Petroleum Company Limited (SPCo) where it was announced their intent to sell its shareholding in SPL. The مزید پڑھیں

The federal government issued two tenders seeking spot liquefied natural gas (LNG) cargoes for the first time in nearly a year on Tuesday, while also announcing a deal that will see Azerbaijan provide the country with one LNG cargo per month. Dependent on gas for power generation and running short of foreign exchange to pay مزید پڑھیں

Pakistan paid for its first government-to-government import of Russian crude in Chinese currency, State Minister for Petroleum Musadik Malik said on Monday — a significant shift in its US dollar-dominated export payments policy. The first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow arrived in Karachi on مزید پڑھیں

The State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at 21 per cent for the next two months, according to a press release issued on Monday. The announcement came after a meeting of the bank’s Monetary Policy Committee (MPC). “The MPC assessed inflation is more likely to have peaked in مزید پڑھیں

The first Russian cargo carrying 45,000 metric tons discounted crude oil reached Karachi port this evening. Pakistan refinery will handle the shipment. Another shipment carrying fifty thousand metric ton of crude oil will reach Karachi next Week.first Russian oil cargo. In a first, Prime Minister Shehbaz Sharif on Sunday announced that a vessel carrying Russian مزید پڑھیں

Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Saturday expressed confidence that the government would easily achieve the 3.5 percent growth target of Gross Domestic Product (GDP) set for the upcoming fiscal year with effective and transparent utilization of massive development funds it allocated for the Public Sector Development Programme (PSDP 2023-24). Addressing مزید پڑھیں

In a significant move aimed at documenting the economy and curbing the outflow of foreign currency, Finance Minister Ishaq Dar in Budget 2023-24 announced the imposition of new tax measures. Finance wizard said the imposition of taxes on cash withdrawals plays a crucial role in documenting economic transactions. As part of this effort, the government مزید پڑھیں

Finance Minister Ishaq Dar presented the budget for fiscal year 2023-24 (FY24) on the floor of the National Assembly. During the speech, the minister said that the government was imposing no new taxes for the upcoming year. Dar said for the next year, GDP growth had been budgeted at 3.5 per cent, terming it a مزید پڑھیں

The second batch of Pakistani mangoes arrived in Nanning, the capital of China’s southwest autonomous region of Guangxi, Adnan Hafeez, Director of Imperial Ventures (Pvt) Ltd said. The shipment comprising one tonne of Sindhri variety was transported by YTO Express via a newly opened cargo flight between Lahore and Nanning, the businessman told in an مزید پڑھیں

After having set a target of 5% growth, Finance Minister Ishaq Dar unveiled on Thursday the Pakistan Economic Survey 2022-23 that showed GDP increase at a lowly 0.3%. Finance Minister Ishaq Dar presented the economic survey for the fiscal year 2023 at a press conference in Islamabad. Before presenting his government’s economic performance for the مزید پڑھیں