Category: Business

ISLAMABAD: Pakistan and the International Monetary Fund kicked off on Monday technical level talks to sort out details of the proposed bailout package over the next 10 days. The visiting IMF mission will stay in Islamabad to conclude the technical details by May 6, while the policy level understanding will be reached over the next […]

ISLAMABAD: The Senate Standing Committee on National Food Security and Research has asked the government to set minimum support price for cotton to ensure growers can earn reasonable profit on their crop. If cotton price falls below support price levels, the government should intervene to safeguard and protect interests of growers, Senator Muzaffar Shah said […]

ISLAMABAD: The China-Pakistan Economic Corridor (CPEC) can only become a success if jobs are provided to the local people and Chinese companies are made bound to do businesses through joint ventures. Transfer of technology should also be ensured otherwise local people would never be benefited by the CPEC projects. Moreover, there should be equal opportunities […]

NEW YORK: Alibaba Group Holding Ltd said on Monday it will pay $250 million to settle a US lawsuit faulting the Chinese e-commerce company for concealing a regulatory warning about its ability to stop counterfeiting before it went public in 2014. The lawsuit accused Alibaba of securities fraud for failing to disclose it had met […]

ISLAMABAD: A number of officials in the finance ministry and some top members of the ruling Pakistan Tehreek-i-Insaf (PTI) believe that reasons behind the removal of Asad Umaras finance minister were “political” rather than economic policies. Justifying this view, they said only a few days back the prime minister had praised Mr Umar for his efforts […]

BEIJING: Prime Minister Imran Khan on Sunday invited Chinese entrepreneurs to take benefits of investment-friendly policies of his government and relocate their industries to the special economic zones being built under the China-Pakistan Economic Corridor (CPEC). The Pakistan government wanted Chinese entrepreneurs to relocate their industries to special economic zones being constructed in the country […]

ISLAMABAD: Pakistan and China on Sunday embarked on the new phase of the China-Pakistan Economic Corridor by signing memoranda of understanding (MoUs) on the first Special Economic Zone (SEZ) and socio-economic development and a new agreement on free trade. The MoUs and the second stage Free Trade Agreement (FTA) were signed towards the conclusion of […]

ISLAMABAD: The government has firmed up a plan for privatisation and restructuring of major public sector entities (PSEs) as part of the proposed medium-term economic and financial policies. This will be part of discussions with the International Monetary Fund (IMF) this week for a three-year bailout package under which the provinces have agreed in principle […]

Prime Minister Imran Khan on Sunday met the founder and chief executive of Chinese tech giant Huawei, Ren Zhengfei, in Beijing, who expressed his interest in making “heavy investment” in Pakistan, according to a statement by the Ministry of Planning. Huawei has already set up a regional service centre in Pakistan, the statement notes, adding […]

SIALKOT: Special Assis­tant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said on Sunday that early revival of national economy was the priority of the government so that maximum financial relief could be provided to people. She stated this while addressing a public meeting in Sambrial town of Sialkot district. She […]