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The food sector is booming amid an economic downturn

FAISALABAD: Despite a general slowdown in business activity across the country, the food sector in Faisalabad is witnessing robust growth with nearly 25,000 registered food shops across the district, reflecting increasing consumer demand and an expanding urban economy. Official data reveals that 24,933 active food business operators (FBOs) have been registered since January 2024, indicating […]

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The government taps 24,000 phones to run the fuel subsidy scheme

ISLAMABAD: The government has decided to acquire around 24,000 mobile phones as part of a nationwide rollout of a digital, app-based fuel subsidy system, as a major step towards dealing with the ongoing energy crisis through targeted relief and tighter monitoring. The devices, to be installed at petrol pumps across the country, will form the

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Fuel crisis: The government is considering smart lockdown

LAHORE: The federal government has finalized a comprehensive plan to impose a nationwide “smart lockdown” along with extended austerity measures aimed at curbing energy consumption and dealing with the deepening fuel crisis triggered by escalating tensions in the Middle East, sources said on Saturday. An official announcement is expected after consultations with key stakeholders. The

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Staff-level agreement on $1.2 billion. loan obtained with the IMF

ISLAMABAD: The International Monetary Fund (IMF) on Saturday announced a staff-level agreement with Pakistan to release a $1.2 billion loan, but linked the board meeting to approve the tranche to Islamabad’s ability to collect Rs322 billion in revenue from the lawsuits. After finding the performance of the Federal Board of Revenue below par, the Washington-based

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Pakistan eases banking regulations for Iran’s exports

ISLAMABAD: The Ministry of Commerce has approved a temporary exemption from financial instruments, including bank guarantees and letters of credit, for exports to Iran, the Central Asian Republics and Azerbaijan via Iran’s land route, it appeared on Saturday. The development arose from a March 24 notification from the commerce ministry received by The Express Pakinomist.

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