World Bank urges focus on fiscal, energy reforms – Business

WASHINGTON: World Bank Group President David Malpass has urged Pakistan to implement fiscal and energy reforms to stabilize the economy and lay the foundation for sustained growth. Malpass, who met with Finance Minister Ishaq Dar and Economic Affairs Minister Ayaz Sadiq in Washington on Thursday, encouraged Pakistan to “focus on implementation” of these reforms, according … Read more

Weekly inflation jumps by over 28pc – Business

Inflation as measured by the Sensitive Price Indicator (SPI) decreased 0.57 percent on a weekly basis during the period ending October 13 due to a slight decrease in energy prices, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. In year-on-year terms, inflation registered an increase of 28.44% driven by food … Read more

Nepra approves reduction of Rs4.89 per unit in FCA for KE consumers – Business

The National Electric Power Regulatory Authority (Nepra) on Friday approved a reduction of Rs 4.89 per unit for K-Electric (KE) consumers due to Fuel Cost Adjustment (FCA) for electricity consumed in August. Meanwhile, the power regulator raised the price by Rs 0.19 per unit for ex-Wapda Distribution Companies (Discos) consumers, also on account of FCA … Read more

SBP reserves hit three-year low of $7.59bn – Business

KARACHI: The central bank’s foreign exchange reserves fell $303 million to a three-year low of $7.597 billion in the week ending Oct. 7, it said on Thursday, while the rupee also fell for a second day. Reserves fell due to foreign debt payments, including commercial loan payments and interest and Eurobond payments, the State Bank … Read more

IMF team due in November for next review – Business

FINANCE Minister Mohammad Ishaq Dar meets Thursday with David Lipton, Counselor for International Affairs to the US Treasury Secretary.—APP • Official says disbursements to Islamabad accelerated in wake of floods• Warns against the use of ‘untargeted subsidies’ to counteract inflation• Dar meets with US, IMF and World Bank officials; Interrupted by PTI activists at the … Read more

Google allows Donald Trump’s Truth Social in Play Store – Business

Google said on Wednesday that it allowed Donald Trump’s Truth Social app on its Play Store for Android devices, after receiving assurances that the app would meet the platform’s standards for moderating harmful content. The app, which Trump launched after he was banned from Twitter over the 2021 Capitol riots, was kept off Google’s store … Read more