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Unchanged: SBP leaves benchmark interest rate on hold at 5.75%

KARACHI: In line with expectations, the State Bank of Pakistan (SBP) on Saturday left the benchmark interest rate unchanged at 5.75% for the next two months. The central bank announces a target rate every two months, which serves as the benchmark interest rate for overnight …

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IMF MD to visit Pakistan for first time in 10 years

ISLAMABAD: The International Monetary Fund (IMF) managing director will visit Pakistan next month to discuss the post-loan agenda with authorities amid disagreement among domestic stakeholders over the real impact of the assistance on national economy. IMF MD Christine Lagarde and Asian Development Bank President Takehiko …

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Solar scale-up in Pakistan hits roadblock after payments slashed

BAHAWALPUR: An effort to boost large-scale solar energy production in Pakistan has hit a roadblock after the government cut the rate it pays for solar electricity, frustrating investors. Punjab government set up the 100MW Quaid-e-Azam Solar Park in the Cholistan desert in March 2015 as …

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Oil prices up on Libya unrest, hopes for output deal

SINGAPORE: Oil prices edged up in Asia on Monday as OPEC member Venezuela indicated a deal to limit output is close and after fresh fighting in Libya. But gains were limited by continuing worries about a supply glut. Major crude producer states are due to …

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Dar invites ministers of various countries for CAREC conference

ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar Saturday wrote letters to the ministers of nine countries inviting them to attend the 15th CAREC Ministerial Conference. The 15th CAREC (Central Asia Regional Economic Cooperation) Ministerial Conference is scheduled to be held in Islamabad on 25th-26th October …

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Pakistan Stock Exchange among top 10 global markets: PM

KARACHI: Prime Minister Nawaz Sharif claimed on Thursday that the Pakistan Stock Exchange (PSX) is among the top 10 markets in the world. He was addressing an award ceremony at PSX in Karachi, where he also stated that the world community is recognising the performance …

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Pakistan turns down Turkmenistan’s electricity export proposal

ISLAMABAD: Pakistan has turned down a proposed plan of Turkmenistan to build a separate transmission line for electricity export and asked it to join the Central Asia South Asia (Casa) 1,000-megawatt power supply project. Pakistan is required to pay transmission line charges under the Casa …

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Pakistan index promotion, GDP rally a winning combo for equity investors

LONDON (Reuters) – A stock market boom and five percent economic growth are helping Pakistan to find favour among international investors and its re-entry next year into a widely used emerging equity index could cement the rally. For years Pakistan has traded at a chunky …

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Panama leaks: FBR says letters issued to Maryam, Hussain Nawaz among others

ISLAMABAD: The Federal Board of Revenue (FBR) has sent letters to people whose names had appeared in the media in connection to the Panama leaks, a spokesman said Saturday. An FBR spokesman confirmed that letters had also been written to Prime Minister Nawaz Sharif’s children, …

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Can India be a Fair Trade and Economic Partner?

BY R Ahmad For a decade or so, Pakistan has been under tremendous pressure from the world, particularly from US to keep the disputes like Kashmir on back burner and promote economic/ trade relations with India to create conducive environment for resolution of issues. It …

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