ISLAMABAD: While stock exchange continues to bleed, the Securities and Exchange Commission of Pakistan (SECP) on Thursday notified amendments in the base minimum capital (BMC) requirements, anticipating that it would support the market players. The downfall in the Pakistan Stock Exchange (PSX) continued on Thursday with a decline of 286 points in the KSE-100 index […]
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LONDON: Credit rating agency Moody’s is carrying out a global review of its corporate ratings in light of the coronavirus and oil price slump, with a first mass wave of downgrades or downgrade warnings likely in the coming days. The firm has already begun the process in a number of the hardest-hit sectors such as […]
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ISLAMABAD: Projecting at least $10 billion losses to the national economy because of coronavirus pandemic, the government is considering an “economic emergency bailout package” within a week to address the likely short-to-medium term liquidity crunch to various sectors of the economy. A series of meetings involving various federal ministries and divisions, provincial and regional governments […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has estimated a revenue loss of over Rs300 billion during the April-June quarter of the current fiscal owing to a slowdown in economic activities because of a coronavirus threat. At a time when the government is struggling to contain the spread of the virus, top FBR officials are […]
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ISLAMABAD: Fissures have started to emerge in the judicial hierarchy after the recent elevation to the Supreme Court as Chief Justice of the Peshawar High Court (PHC) Waqar Ahmed Seth has sent a complaint to Chief Justice of Pakistan (CJP) Gulzar Ahmed, who is also chairman of the Judicial Commission of Pakistan (JCP). In a […]
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KARACHI: In a rare gesture, Pakistan Peoples Party (PPP) chairman Bilawal Bhutto-Zardari on Thursday announced a “no criticism policy” against Prime Minister Imran Khan and his government over its response to the coronavirus pandemic. He expressed the hope that the federal government will meet the challenges posed by the situation, but at the same time […]
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ISLAMABAD: The Pakistan Muslim League-Nawaz (PML-N) on Thursday submitted a requisition notice to the National Assembly secretariat, asking Speaker Asad Qaiser to convene a session of the lower house of parliament to discuss the prevailing situation in the country in the wake of coronavirus threat. The party submitted the notice under Article 54(3) of the […]
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Pharmacies in Pakistan’s major cities of Karachi and Lahore have run out of medicines having hydroxychloroquine phosphate, also known as cholroquine, it emerged on Friday, after news began circulating on social media that the drug was effective in treating patients who test positive for the novel coronavirus. Several pharmacy chains in Karachi including Bin Hashim […]
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Prime Minister Imran Khan on Friday expressed the hope that Pakistan’s “hot and dry” weather will help to mitigate the coronavirus outbreak, urging citizens to exercise social distancing and self-discipline. Speaking to senior journalists in Islamabad, the premier said: “We can manage [the outbreak]. There is a difference of opinion, but some doctors say that […]
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RIYADH: Saudi Arabia announced on Tuesday that mosques would no longer accept worshippers for the customary five daily prayers and the weekly Friday prayer, in exceptional measures intended to help limit the spread of novel coronavirus. Prayers will continue only at the two holy mosques in Makkah and Madina, state news agency SPA reported, citing […]
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