Category: Business

The tail-end areas of Sukkur and Kotri barrages face unending water shortage problems. Both barrages feed large swathes of agricultural lands in left bank areas — known as the breadbasket of Sindh — of the river Indus where cash crops like cotton, rice and sugarcane are produced. Mango and banana orchards also located here. Farmers […]

KARACHI: The stock market remained dull and drab on Friday despite a four-day hiatus on account of Eid holidays. The KSE-100 index fell 664 points (2.26 per cent) to close at 28,764. Investors were jittery due to a constant stream of negative news on the economic front and the rising tensions on the border. The […]

ISLAMABAD: Making a slow beginning, the government has disbursed only Rs15.4 billion to the country’s development programme in the first month of the current fiscal year, down 32 per cent from the comparable period last year. According to official data released by the Planning Commission, the total disbursement of Rs15.4bn for the Public Sector Development […]

ISLAMABAD: The Commerce Division on Friday clarified that the trade suspension decision with India will not apply to those shipments already in the pipeline before the announcement. A week after the issuance of notifications, the division in an official statement said that the trade suspension decision will not affect all those shipments for which letters […]

The federal government on Saturday appointed Aamir Khan as the new chairman of the Securities and Exchange Commission of Pakistan (SECP) with immediate effect, a notification issued by the Finance Division said. Khan replaces Farrukh Sabzwari, who was appointed the corporate sector regulator’s chairperson just seven months ago. The federal cabinet had last week decided […]

ISLAMABAD: The government’s battle against bloated trade deficit is bearing fruits as it shrank by 29 per cent in the first month of this fiscal year, driven largely by a decline in non-essential luxury items. The trade deficit decreased 28.84pc to $2.27 billion in July, from $3.19bn over the corresponding month of last year. The […]

ISLAMABAD: The government has directed all federal ministries and institutions and the governments of four provinces, Azad Kashmir and Gilgit-Baltistan to submit by Sept 1 the declarations of assets held and acquired by their employees during the fiscal year ending June 30, 2019. In separate office memorandums, the government has also notified 15 per cent […]

KARACHI: With banks parking their money in risk-free government securities in huge sums, private sector has found no space to borrow from financial institutions since the beginning of FY20. The State Bank of Pakistan’s latest data shows the government borrowed Rs1.367 trillion from July 1 to Aug 2 (33 days) as against net debt retirement […]

KARACHI: Domestic gold price hit a new record peak of Rs88,300 per tola and Rs75,703 per 10 grams, up by Rs950 and Rs815 as compared to rates prevailing on Aug 10. The All Sindh Saraf Jewellers Association (ASSJA) attributed the fresh hike in rates to increase in world gold price by $16 per ounce to […]

LONDON: European stock markets lost ground again on Thursday as investors all but gave up hope that a US-China trade war could be nearing its end, while US equities nervously traded sideways. Fears over the stand-off between the world’s two biggest economies added to jitters over the state of the world economy which had inflicted […]