The Finance Minister leads the ECC meeting and approves the CPEC projects and incentives for remittances.

Published

6 months ago

Farwa

The Economic Coordination Committee meeting in Islamabad was presided over by Senator Muhammad Aurangzeb, the minister of finance.

The execution of the framework agreement between China and Pakistan for the realignment of the Thakot-Raikot section of the Karakoram Highway under the CPEC was approved by the ECC.

The committee additionally granted permission to the Ministry of Communications to move forward with the acquisition of consulting services for the N-45 Chakdara-Timergara Road Project.

The ECC also updated the incentive programs for home remittances.

The incentive program for exchange businesses will see an increase in the base rate for the fixed component, and the Telegraphic Transfer Charges Scheme will now have a split reimbursement rate.

E&P Companies Will Invest $5 Billion in Pakistan’s Petroleum Industry

Published

5 hours ago

Farwa

Over the next three years, local and foreign companies involved in Pakistan’s oil and gas exploration and production sector have shown a strong desire to invest more than $5 billion in the nation’s energy sector.

Recent changes to the Petroleum Policy and the implementation of an exclusive tight gas policy, which provide better incentives and a more investor-friendly regulatory framework, are credited with the increase in investor confidence.

These strategic changes are expected to boost domestic energy production, open up new avenues for growth, and draw large amounts of both domestic and foreign investment.

Business

With inflation slowing, the SBP is anticipated to lower the policy rate for the eighth time in a row.

Published

6 hours ago

Farwa

Businesspeople anticipate another reduction in the policy rate when the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) releases the updated rate.

The interest rate for the upcoming two months will be announced by the central bank. It is still unclear if the rate will stay the same or be lowered to reflect stakeholder expectations.

According to experts, the policy rate will be lowered in order to further boost the nation’s economic sector.

Interest rates may be lowered for the seventh time in a row if the inflation rate declines significantly more than anticipated.

In its last six sessions, the MPC had cut the policy rate by 10 percent. In January 2025, it decreased the rate by one percent to 12pc.

12PC POLICY RATE

In January, the State Bank of Pakistan (SBP) announced cut in key policy rate by 100 basis points (bps) to 12 percent from 13pc in line with expectations of the business community.

The policy rate, which had been at 22 percent since June 2024, was slashed by 1,000 basis points to 12 percent.

The SBP governor said the decision was taken with careful consideration. “Although inflation is expected to decline next month (February), core inflation remains a pressing concern,” he stated.

Ahmed highlighted strong remittance inflows and robust export growth as key factors supporting the current account.