Category: Business

ISLAMABAD: The Council of Common Interests (CCI) on Thursday made a number of important decisions, including resolution of 30-year-old controversies among the provinces over the 1991 Water Accord through consensual distribution of water resources in one month. The 42nd meeting of the CCI chaired by Prime Minister Imran Khan referred the issue of appointment of […]

ISLAMABAD: The National Assembly Standing Committee on Privatisation decided on Thursday to hold an in-camera session to discuss the leasing of the Roosevelt Hotel site. The Managing Director of PIA Investments Limited, Najeeb Samie, who attending the meeting, requested chairman of the standing committee to make the event in-camera. He added that a financial adviser […]

ISLAMABAD: The government has secured relaxation in parliamentary oversight and reporting of its budgetary exercise and has tightened cash flow mechanisms of all the federal entities and ministries. This has been achieved by amending the Public Finance Management Act 2019 through the Finance Act 2020, followed by notification of Cash Management and Treasury Single Account […]

WASHINGTON: Microsoft Corp is chasing a deal to buy all of TikTok’s global business, the Financial Times reported on Thursday, citing five people with knowledge of the talks. However, a source familiar with the discussions told Reuters that Microsoft had not raised the prospect of buying all of TikTok in its negotiations with ByteDance. Microsoft had said it was […]

ISLAMABAD: Railways Minister Sheikh Rashid Ahmed on Thursday said the Main Line-I (ML-I) project is the biggest Pakistan Railways project since 1861, adding it will improve the railway system and prevent accidents. “After completing the track from Karachi to Peshawar, we will open the track to private investors so they can run their trains while […]

ISLAMABAD: The National Tariff Policy Board on Thursday decided to rationalise tariff structure on the textile sector, particularly on raw materials. An official statement said that during the board meeting chaired by Commerce Adviser Razak Dawood, it was decided that the Tariff Policy Centre (TPC) would conduct a detailed study on the tariff structure of […]

ISLAMABAD: The overall business confidence in Pakistan fell all past year due to a combination of factors including high inflation and interest rates, currency devaluation and economic stabilisation programme coupled with Covid-19 related lockdowns and uncertainty. This has been revealed in Business Confidence Index (BCI) Survey — Wave 19, conducted by Overseas Investors Chamber of […]

KARACHI: A massive jump of $66 per ounce in the world market on Wednesday took the local gold price to a new peak of Rs128,700 per tola and Rs110,340 per 10 grams — registering a sharp increase of Rs4,800 and Rs4,116, respectively. All Sindh Saraf Jewellers Association (ASSJA) fixed the price based on the world […]

ISLAMABAD: The Fede­ration of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday lodged a complaint to the Directorate General of Trade Organisations (DGTO) against the Lahore administration for cancelling FPCCI’s Executive Com­mittee and General Body Meeting that was scheduled to be held on Wednesday. In his letter, FPCCI President Mian Anjum Nisar said “it […]

KARACHI: A huge consignment of active/inactive pharmaceutical ingredients, imported by local companies from India are stuck up at port awaiting no objection certificates (NOC) from the Drug Regulatory Autho­rity of Pakistan (Drap). Pakistan Pharmaceutical Manufac­turers Association (PPMA), in a letter to Minister for National Health Services, Regulation and Coordination Division Dr Faisal Sultan on August […]