Category: Business

ISLAMABAD: Petroleum Minister Ghulam Sarwar Khan on Friday promised to revise existing slabs for domestic gas consumers to settle the issue of inflated bills caused by the price hike. Speaking at a news conference, the minister said the prices were increased following pressure from the International Monetary Fund (IMF) but said the government would revise billing slabs […]

LONDON: The British government on Friday dismissed as a “hiccup” its latest parliamentary defeat over Brexit, saying it would press on with trying to renegotiate its EU divorce deal as exit day looms in just six weeks. But as Prime Minister Theresa May prepares to return to Brussels next week, a senior minister conceded the […]

QUETTA: Members of the Balochistan Assembly both from treasury and opposition benches have called upon the federal government to take the provincial government and the province’s political leadership into confidence on the Saudi plan for establishing an oil refinery in Gwadar. During a session of the assembly, which was presided over by Deputy Speaker Sardar […]

KARACHI: The country’s external debt servicing has increased significantly in the first two quarters of the current fiscal year, reaching $5.367 billion at the end of Dec 2018. The State Bank reported on Friday that external debt servicing has been rising sharply compared to the last fiscal year. The second quarter debt servicing was equal […]

ISLAMABAD: The government is anticipating the fiscal deficit for the current fiscal year to reach 6.3 per cent of gross domestic product (GDP) and miss the 5.1pc target set in September last year by a wide margin. According to finance ministry’s revised estimates for fiscal operations, the fiscal deficit has been worked out at Rs2.39 trillion in […]

KARACHI: JPMorgan Chase & Co, CLSA and Credit Suisse Group AG are pitching for a role on Pakistan’s biggest privatisation in a decade, expected to raise around $2 billion, according to a Bloomberg report. Citigroup Inc and Standard Chartered Plc made their own separate proposals, while Lazard Ltd is pitching with Pakistani brokerage Next Capital […]

ISLAMABAD: The government has formally sought help from the World Bank (WB) to improve the business and investment environment in the country, said Adviser to the Prime Minister on Commerce and Investment Razak Dawood on Thursday. In an official statement issued after the meeting with World Bank Country Director Patchamuthu Illangovan, the adviser said the […]

PESHAWAR: The Khyber Pakhtunkhwa government is considering a proposal to build a major highway to connect all seven merged tribal districts at the whopping cost of Rs70 billion. The documents available with Dawn show that the proposed high-speed 750 miles long highway will connect all merged districts from Bajaur in the north to Waziristan in […]

KARACHI: The Sindh High Court on Thursday issued notices to officials of the Oil and Gas Regulatory Authority (Ogra) and Hydrocarbon Development Insti­tute of Pakistan (HDIP) after it was told that no proper mechanism was in place to check and verify the CNG and LPG kits being used in vehicles. When a set of petitions […]

NEW YORK: Amazon announced on Thursday it was abandoning plans for a new headquarters site in New York City, citing opposition from local politicians angry at the huge subsidies being offered to one of the world’s most successful companies. The New York neighbourhood of Long Island City had been one of two locations Amazon selected […]