Pakistan’s first quarter fiscal deficit narrows to 0.8%

KARACHI: The budget deficit for the first quarter (July-September) of the current fiscal year narrowed to 0.8 per cent of the GDP, compared with the deficit of 1.1 per cent in the same quarter of the last fiscal year, according to details released by the Finance Ministry. — BY SHAHNAWAZ AKHTAR

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No subsidy? Industries likely to get expensive gas

KARACHI: The Ministry of Energy has moved a summary to the Federal Cabinet for ending subsidised gas rates for industries, including captive power plants, which would likely increase the prices, Topline Securities reported in a research on Tuesday. — BY STAFF REPORTER

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Pakistani exports to China to set new records this year: envoy

BEIJING: The bilateral trade volume between Pakistan and China and the Pakistani exports to China would set new records by the end of the current year, a diplomat said on Tuesday. The bilateral trade between the two countries has grown by more than 60 per cent and Pakistani exports to China have grown 75 per cent. — APP

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Sugar crisis escalated due to black marketing: minister

ISLAMABAD: The current sugar crisis escalated due to black marketing by the industrialists, which left adverse effects not only on the supply chain mechanism but also on the economic growth of the country, a senior official said. — APP

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Govt to bring back Pakistan’s past economic glory: Tarin

ISLAMABAD: The government wants to bring back Pakistan’s past economic glory when the country was one of the four largest economies in the Asian region, a senior official said. The government is focusing on human resource capital and the Small and Medium Enterprises, which would be the government’s top priority. — APP

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World food crisis deepens as situation in 43 countries worsens: UN

UNITED NATIONS: The World Food Programme, a Rome-based UN agency, has warned that the number of people teetering on the edge of famine in 43 countries, has risen to 45 million, up by three million this year, as acute hunger spikes around the world. — APP

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CDWP gives go-ahead to four projects worth Rs140 billion

ISLAMABAD: The Central Development Working Party (CDWP) cleared three development projects with a cost of Rs9.2 billion and recommended two projects worth Rs130 billion to the Executive Committee of the National Economic Council for further consideration. — BY HAMZA HABIB

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PM Imran Khan urged for steps to put agriculture, other sectors in top gear

KARACHI: The Union of Small and Medium Enterprises has advised Prime Minister Imran Khan to take immediate steps to put agriculture, livestock, poultry, dairy farming, horticulture and hydroponic farming in top gear to fight inflation, which is damaging the economic fabric of the country. — BY STAFF REPORTER

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Saudi Arabia allows non-Saudis to invest in real estate funds

RIYADH: The Capital Market Authority allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invest in assets within the boundaries of the holy cities of Makkah and Madinah. — WEB DESK

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Toshiba to split business into three

TOKYO: Toshiba plans to split into three companies as early as 2023, a report said on Tuesday, after a series of crises at the firm, including the ouster of the board’s chairman and a contentious buyout offer. — AFP

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