MANGLA: Prime Minister Shehbaz Sharif on Monday said that Pakistan is unable to bear the cost of heavy energy import bills in a situation when the economy is facing immense challenges. He said Pakistan was in dire need of generating cheap electricity as the energy import bill exorbitantly touched $27 billion. He was addressing the […]
State Bank of Pakistan KARACHI: State Bank of Pakistan (SBP) on Thursday strongly rejected reports of restricting oil and petroleum products import payment. The central bank clarified that some reports suggested regarding restriction on import of oil and petroleum products by the SBP. READ MORE: Last date extended up to Dec 31 for exchanging old designed banknotes “It is […]
ISLAMABAD: The International Islamic Trade Finance Corporation (ITFC) will provide financing of an amount $761.5 million to Pakistan for import of oil and gas. In this regard a financing agreement amounting to $761.5 million has been signed between the Ministry of Economic Affairs, Government of Pakistan and International Islamic Trade Finance Corporation (ITFC) for import […]
ISLAMABAD: Country’s import of oil and gas fell sharply by 28 percent during fiscal year 2019/2020 owing to significant decline in international prices. The import of petroleum group has decline to $10.42 billion during fiscal year 2019/2020 as compared with $14.44 billion in the preceding fiscal year, according to data released by Pakistan Bureau of […]
ISLAMABAD: The oil import bill has surged to $8.68 billion due to significant increase in import of liquefied natural gas (LNG), according to data released by Pakistan Bureau of Statistics (PBS).