Category: Business

KARACHI: Indian importers have asked Pakistani cement exporters to recall their containers destined for the country following 200 per cent increase in duty on various products and tense situation arising out after the Pulwama attack. “The industry has started receiving messages from Indian buyers to recall containers. Some exporters have started recalling their shipments,” a cement exporter, […]

KARACHI: Pakistan State Oil’s profit after tax plunged 50 per cent to Rs4.249 billion for first half (July-December) of 2018-19 from Rs8.522bn in the same period last year. Gross sales, however, increased by 1.42pc to Rs662.726bn during the period under review. “The challenging economic trend fuelled by rupee devaluation and adverse balance of payments position […]

KARACHI: Governor of the State Bank of Pakistan Tariq Bajwa has said the country has come out of the financial crisis with the help of friendly countries and the economy has been set on the right path. Speaking at a private university in Lahore on Monday, he said uncertainty in the economy had ended. The […]

DUBAI: Pakistan and Peshawar Zalmi speedster Hasan Ali, who ripped through Lahore Qalandars on Sunday with a four-wicket burst to lead his team to a fine victory, said taking South African wizard A.B. de Villiers’ wicket was like a dream coming true for him. “The most important part of any good performance is to help […]

KARACHI: Badly hit by falling area under cultivation, use of poor quality seed and pesticides, cotton production up to Feb 15 stood short by 6.83 per cent at 10.7 million bales over the corresponding period last year. This is the seventh consecutive year the country is faced with a short crop of around 4.8m bales […]

LONDON: Honda will close a car factory in western England with the potential loss of 3,500 jobs, British media and a local lawmaker said Monday, in another blow to a British economy made jittery by Brexit. Sky News said the Japanese carmaker is to announce Tuesday that the Swindon plant will close in 2022. Honda […]

KARACHI: Pakistan Mortgage Refinance Company (PMRC) will provide Rs3.6 billion to House Building Finance Company (HBFC) for the provision of low-cost housing in the country. The PMRC, which gets cheaper loans from World Bank, signed an agreement with the HBFC at the central bank. The signing ceremony was chaired by the Governor State Bank Tariq […]

ISLAMABAD: A four-member Pakistani delegation will be witnessing on Monday a review in Paris of its performance by an expert group of the Financial Action Task Force (FATF) on its compliance with global guidelines against terror financing and money laundering. The Asia-Pacific Group (APG), an associate firm of the Paris-based FATF, will present Pakistan’s report […]

THE first meeting of the newly constituted National Finance Commission (NFC) held on Feb 6 initiated conciliatory moves, required to steer the course of tough negotiations ahead for finalising the long-awaited eighth award. Finance Minister Asad Umar assured the NFC partners that the government will fully implement the 18th amendment, addressing the provinces’ concerns about […]