Category: Business

Laughter would have been the response had someone told you, a decade back, that the world’s largest hospitality service provider will not own any rooms, or that the world’s leading taxi provider will not own any cars, or that the world’s leading media company will hardly own any video contents. But as you read this, […]

KARACHI/ISLAMABAD: The government moved to remove the State Bank governor and the Federal Board of Revenue (FBR) chairman in a rapid series of developments in Islamabad on Friday. SBP Governor Tariq Bajwa confirmed to Dawn that he was asked to resign while he was in Islamabad for talks with the Interna­tional Monetary Fund (IMF) that […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday approved the recommendations of the Oil and Gas Regulatory Authority (Ogra) regarding increase in prices of other petroleum products, but did not agree with the proposed price of petrol. Ogra had suggested that the price of petrol be increased by Rs14.37 per litre, but […]

ISLAMABAD/LAHORE: The government of Pakistan and the Islamic Development Bank (IDB) share a common goal of enabling people to lead better lives and achieve their full potential, Prime Minister Imran Khan said on Friday. Meeting with IDB President Dr Bandar M.H. Hajjar, who was leading a delegation of the bank, at his office in Islamabad, […]

PRAGUE: Experts called on 5G providers Friday to heed supply chain security in light of concerns about technology providers such as China’s Huawei, recently banned by the US government. “The overall risk of influence on a supplier by a third country should be taken into account, notably in relation to its model of governance, the […]

KARACHI: The country’s oil sales plunged by 24 per cent to 15.3 million tonnes during the first 10 months of this fiscal year owing to significant drop in furnace oil (FO) and high-speed diesel (HSD) demand. The sales of furnace oil and HSD stood at 2.448 million tonnes and 6m tonnes, depicting 56.6pc and 19pc […]

ISLAMABAD: Cellular operator Jazz on Friday approached the Islamabad High Court asking for “clarity” on the terms of its licence renewal that it says should be done “in an equitable, fair and transparent way.” The license in question belongs to Warid, which was acquired by Jazz in 2015. In a statement, the company said that […]

Hafeez Sheikh, adviser to the prime minister on finance, revenue and economic affairs, on Friday said that efforts to improve fiscal and macroeconomic sectors are doomed to fail if public sector enterprises (PSEs) “continue to haemorrhage” the economy. Sheikh, who was addressing a conference in Islamabad, regretted that in Pakistan, “public sector corporations […] continue […]

The Government of Pakistan on Friday expressed its “deep concern” over a statement by Indian Finance Minister Arun Jaitley that New Delhi wanted Pakistan to be placed on the Financial Action Task Force (FATF) blacklist, saying it showed the global illicit financing watchdog was being “politicised” by the neighbouring country. “We want Pakistan downgraded on […]

KARACHI: The Ministry of Finance has asked all the provincial governments to send their finance ministers to Islamabad for a face to face meeting with the IMF team on Saturday. An agenda for the talks has not been declared, but the authorities in Sindh say the talks come after reports emerged in the press that […]