Category: Business

The pharmaceutical industry consists of 759 manufacturing units, including those operated by 25 multinational companies. The last pharmaceutical company to be listed on the stock exchange was AGP Ltd — the eighth largest pharmaceutical group in the country — which offered 35 million shares or 12.5 per cent of the company’s capital to the public. […]

Newspaper reports that the government is set to withdraw agricultural subsidies ahead of the International Monetary Fund (IMF) package have shocked stakeholders. They fear that it may further choke the sector, which is already under stress for want of subsidies. “The local farming sector receives just 20 per cent of subsidies that are available to […]

China’s president has called for technological self-reliance in the escalating rivalry with America, but experts believe Beijing’s late start on tech and relatively backward capabilities could make that a mission impossible. China has no doubt made an amazing transformation, from a former basket case wracked by mass famine and political upheaval to a highly connected […]

Adviser to the Prime Minister on Finance, Hafeez Shaikh, on Saturday said that the International Monetary Fund (IMF) loan programme that Pakistan is about to enter into has a lower rate of interest as compared to other programmes. The advisor on finance acknowledged that the programme was being debated upon heavily in the media as well as […]

ISLAMABAD: The government is planning to recover Rs300 billion from electricity “defaulters and thieves”, besides providing Rs50bn additional subsidy to exempt consumers using up to 300 units from tariff increase required under the International Monetary Fund programme. The assertions were made by Energy Minister Omar Ayub at a press conference here on Friday. He said […]

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has said that the upcoming budget will include measures to clamp down on the country’s bustling parallel cash economy. “My objective is very clear and simple: to document the economy,” he told Dawn on Friday. He did not elaborate on the tools that the FBR […]

ISLAMABAD: At least three important factors caused a crucial setback to the country’s dismal economic growth rate this year even though major contributors to GDP missed their targets. Informed sources told Dawn that during a presentation on the performance of macroeconomic indicators, the Annual Plan Coordination Committee (APCC) was informed on Thursday that the most […]

Billionaire entrepreneur Elon Musk’s SpaceX has raised more than $1 billion in financing in the last six months as it aims to roll out an ambitious high-speed internet service by using a constellation of satellites to beam signals from space. The company raised $486.2 million in an equity offering, starting December, and another $535.7m in […]

LAHORE: The government has devised a concrete plan for currency stabilisation and the rupee is already on its way to stability, claimed Adviser to the Prime Minister on Information Dr Firdous Ashiq Awan here on Friday. Speaking at an Iftar dinner, where PPP leader Zikria Butt joined the Pakistan Tehreek-i-Insaf (PTI), the adviser said that […]

NEW DELHI: Dissatisfaction with lagging economy didn’t deter Indian voters from handing Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) a landslide parliamentary election victory. Now, they’ll be expecting something in return: faster, bolder action on long-promised reforms to transform the economy and improve the lives of 1.3 billion people. Modi made big […]