Category: Business

ISLAMABAD: Pakistan continues to face funding challenges for disaster risk reduction and disaster response, and the heavily decentralised approach to disaster relief fund is complicating challenges in enhancing disaster relief management, says a new report of the Asian Development Fund. The report titled ‘Diagnostics Assessment of the Disaster Risk Financing (DRF) in Pakistan’ suggests that […]

LAHORE: Gas supplies to power plants, general industry and CNG sector could not be restored as per schedule on Saturday night as Engro re-gasification terminal remained shut for technical reasons, it is learnt. The re-gasification facility was shut for 60 hours at 8am on Thursday for annual repair and maintenance and was to restart operation […]

Amazon jilted New York City on Valentine’s Day, scrapping plans to build a massive headquarters campus in Queens amid fierce opposition from politicians angry about nearly $3 billion in tax breaks and the company’s anti-union stance. With millions of jobs and a bustling economy, New York can withstand the blow, but experts say the decision […]

Once-too-high imports are now tumbling. Once-battered exports are crawling up. The change is visible. The trade deficit is down. Remittances are doing better. Hopes for a huge foreign investment are about to start materialising: follow-up events of Saudi Crown Prince Mohammad bin Salman’s visit to Islamabad will show how. Things are cool on the external […]

SEOUL: North Korea, which suffers from poverty and isolation partly due to international sanctions imposed against the country for its nuclear and missile tests, has proclaimed a shift in national focus from nuclear weapons development to economic development. “North Korea has done a lot of case studies on economic development plans that brought rapid growth […]

Economic policymaking is all about trade-offs. A bad trade-off makes the economy suffer. “Mushroom growth of sugar mills in the main cotton-growing areas of Southern Punjab and Sindh has placed the cotton crop in direct competition with sugar cane for area and resources,” says the State Bank of Pakistan (SBP) in its first quarterly report […]

ISLAMABAD: Pakistan plans to borrow another 200 billion rupees ($1.44bn) to help clear power sector debt destabilising the finances of the government and private power producers, a senior official tasked with energy reforms said. Pakistan’s economy and society have been racked by a decade of chronic electricity shortages which have crippled its manufacturing sector and […]

ISLAMABAD: Minister for Foreign Affairs Shah Mehmood Qureshi on Friday invited German companies to take advantage of Pakistan’s investor-friendly policies, especially in the fields of energy, infrastructure development and agriculture. During a meeting with his German counterpart Heiko Maas on the sidelines of the Munich Security Conference, the foreign minister also urged the German firms to […]

ISLAMABAD: Pakistan will consider all available options to retaliate for the Indian government’s decision to withdraw Most Favo­ured Nation status, Razak Dawood, the prime minister’s adviser on commerce, told the media on Friday. The response came from the adviser while giving briefing to media at the office of board of investment on the two-day visit of […]