Category: Business

ISLAMABAD: Members of the newly constituted Par­­­­liamentary Committee on China-Pakistan Econo­mic Corridor (CPEC) on Tuesday elected Pakistan Tehreek-i-Insaf (PTI) MNA from Peshawar Sher Ali Arbab as their chairman without waiting for nominations from the Senate. According to an official handout issued by the Na­­tional Assembly Secre­tariat, MNA Mehnaz Akber Aziz of the Pakistan Muslim Leag­ue-Nawaz […]

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have finalised, documented and signed a bailout package on exchange rate, public finance, fiscal deficit and energy prices and an IMF mission will be visiting Islamabadin the third week of the current month to work out technical tables, said Finance Minister Asad Umar. “We have reached an agreement […]

KARACHI: Pakistan has paid $1 billion of the total $2bn raised in 2014 through the issue of five-year and 10-year Eurobonds, the State Bank of Pakistan (SBP) announced on Monday. The issue, held in April 2014, was censured by independent economists who criticised the high rates offered to sell these bonds. The returns offered on […]

ISLAMABAD: The Chinese government has finally offered Pakistan market access similar to that offered to countries of Association of South East Asian Nations (Asean) after seven years of negotiations. According to Secretary Finance Mohammad Younus Dagha, the Chinese government has agreed to immediately reduce duties to zero per cent on 313 tariff lines. Dagha led […]

ISLAMABAD: Chairman of China Silk Road Group Limited Yan Lijin on Monday called on Prime Minister Khan and showed a keen interest in the PM’s low-cost housing project. Finance Minister Asad Umar, Housing Minister Tariq Bashir Cheema, Planning Minister Khusro Bakhtiyar, Housing Secretary Dr Imran Zeb were also present during the meeting. The company offered affordable […]

ISLAMABAD: The Central Development Working Party (CDWP) on Monday cleared a total of four development projects costing about Rs210 billion, mostly in the energy sector. The meeting of the CDWP was presided over by Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar. The meeting formally approved a Rs552.71 million hydropower development programme for […]

KARACHI: The cotton market turned listless on Monday as ginners withdrew to the sidelines in the anticipation of higher prices for the commodity in coming days. Overall the underlying sentiment was positive and outlook bright. Despite the fact that buyers were present in the trading ring, sellers stayed away in the hope that cotton prices […]

DUBAI: Dubai’s financial services regulator said on Monday that it was in touch with the US Securities and Exchange Commission about the latest case involving collapsed private equity firm Abraaj. The statement came after Abraaj founder Arif Naqvi and a former Abraaj executive were arrested last week on US charges that they defrauded investors, including […]

The International Monetary Fund (IMF) on Monday said that it held “constructive discussions” with Pakistani authorities during last week’s spring meetings in Washington and that its mission will be visiting Pakistan “before the end of April to continue the discussions” on a bailout package. The announcement was made by the Office of the Resident Representative […]

ISLAMABAD: The federal cabinet is expected to formally clear the Assets Declaration and Amne­sty Scheme 2019 on Tuesday for immediate implementation thro­ugh a presidential ordinance to be given parliamentary sanction as part of Finance Act 2019 in May-June. A senior government official told Dawn that the revenue division had already secured law division’s support for the draft […]