Category: Business

KARACHI: The World Bank released a statement on Friday, giving its view on a report ‘Kabul links trilateral transit trade to Wagah border opening’ which appeared in Dawn on April 24. The World Bank’s country director claimed that the government of Pakistan had not requested the Bank to drop the two projects as was mentioned […]

ISLAMABAD: A staff mission of the International Monetary Fund (IMF) would be visiting Pakistan on Monday (April 29) for negotiations on a three-year bailout package for economic reforms including the introduction of a single Value Added Tax (VAT) regime. The announcement came following a meeting between Prime Minister Imran Khan and IMF Managing Director Ms […]

ISLAMABAD: With an addition of 700,000 consumers last year, Pakistan’s gas shortfall is estimated to jump by 157 per cent to 3.7 billion cubic feet per day (bcfd) in fiscal year 2019-20 — almost equal to total gas supplies at present. The estimates have been made by the Oil and Gas Regulatory Authority (Ogra) that […]

ISLAMABAD: Qatar has emerged as the front-runner for a long-term gas supply deal to Pakistan, a senior government official said on Friday, with the cabinet of Prime Minister Imran Khan set to decide in the coming weeks on an agreement. Pakistan, with 208 million people, is running out of domestic gas and has turned to […]

KARACHI: The stock market extended its rally into the third day on Friday as the KSE-100 index propelled by 334.60 points (0.91 per cent) to close at 37,130.63. The market opened positive and remained bullish for the entire session on the last trading day of the week and the index touched intraday high by 362 […]

ISLAMABAD/KARACHI: Despite government’s commitment to implement its writ in the markets, prices of essential food items have increased significantly across the country ahead of Ramazan, which starts from first week of next month. Sugar hit new retail peak of Rs70 per kg from Rs65 per kg few days back following persistent rise in wholesale rates […]

KARACHI: The government’s budgetary borrowings grew by 17.03 per cent to Rs917.13 billion from Jul-April 19, from Rs786.67bn in corresponding period last year, latest data from the State Bank of Pakistan revealed. The government borrowing for budgetary support has taken an upward trajectory for some months now, with latest figures further supporting that trend. The […]

ISLAMABAD: Pakistan and China agreed on Friday to revive cooperation between the Chinese Investment Promotion Agency (CIPA) and the Board of Investment (BoI) to ensure investment promotion in prioritised sectors of information technology, textiles and agro-based products. BoI Chairman Haroon Sharif, who is in Beijing as part of prime minister’s delegation to participate in the […]

World Bank CEO Kristalina Georgieva on Friday pledged to further strengthen cooperation with Pakistan in the areas of ‘disbursements programme lending’ and ‘guarantees provision for raising external funds’ , according to a press release received by Dawn.com. The pledge was made in a meeting with Prime Minister Imran Khan on the sidelines of the second Belt […]

ISLAMABAD: The government is working on a plan to merge ministries of commerce, industries and production, and the Board of Investment (BoI) to consolidate and integrate existing institutions at the federal level to enhance effectiveness of policy reforms, ‘Dawn’ has learnt on Thursday. Following the merger, a National Competitiveness Council (NCC) will be established having […]