Category: Business

ISLAMABAD: The government on Friday reconstituted the 9th National Finance Commission (NFC) to give new award for sharing of federal divisible resources among the centre and provinces. The Ministry of Finance has issued a formal notification for the reconstitution of nine-member commission after its reference was approved by President Arif Alvi. The commission will be […]

KARACHI / LAHORE: Just a day after Prime Minister Imran Khan ordered the removal of heads of the Sui Southern Gas Company Limited (SSGCL) and the Sui Northern Gas Pipelines Limited (SNGPL) over the gas crisis that gripped Punjab and Sindh last month, new managing directors of the companies were appointed on Thursday. “SSGC’s board of directors […]

ISLAMABAD: The government on Thursday claimed that inflation had increased negligibly during its first five months as compared with the same period of previous governments. After a meeting of the federal cabinet, Statistics Division secretary Dr Shaista Sohail presented figures on inflation at a press conference. Fed­eral Minister for Planning and Stat­istics Khusro Bakhtyar and […]

ISLAMABAD: Finance Minis­ter Asad Umar has ruled out the possibility that the country may default on repayment of debt and claimed that due to some important decisions being taken by the government to strengthen the economy, Pakistan is better placed to negotiate with the International Monetary Fund. Talking to anchorpersons here on Thursday, he said […]

DUBLIN: Ireland kicked off its funding drive for 2019 by raising 4 billion euros in a new 10-year bond sale after being swamped with bids for four times that amount, the country’s debt agency said on Wednesday. Ireland has begun its annual fundraising with a syndicated sale every year since 2013 and was among the […]

KARACHI: Master Motor Corporation (MMC) will start assembling Iveco trucks in Pakistan this year, said the company’s Chief Executive Danial Malik on Wednesday. He made the announcement while inaugurating the company’s first facility and showroom in Sindh Industrial and Trading Estate Area. “We have imported eight Iveco trucks in the last 2-3 months but now […]

RIYADH: Top oil exporter Saudi Arabia announced a slight rise in its crude oil reserves on Wednesday after they were independently audited, providing more detail about the size of deposits shrouded in secrecy for decades. Saudi Arabia’s reserves of easily recoverable oil have long been the world’s largest but few details were public. The external […]

ISLAMABAD: Hoping to overcome prevailing gas shortage, the government on Tuesday decided to announce a new power policy along with a 25-year composite energy strategy this month. This was the crux of a meeting of the Cabinet Committee on Energy presided over by Prime Minister Imran Khan. The meeting took stock of increasing number of […]

KARACHI: Mega projects of Karachi Port Trust (KPT) have been submitted for possible inclusion in the China-Pakistan Economic Corridor (CPEC) initiative, official sources said on Tuesday. Secretary Maritime Affairs Amir Khawaja, who recently attended the Joint Coordination Committee (JCC) meeting in China, has tabled some of the mega projects of Karachi Port for inclusion in […]

ISLAMABAD: The government is targeting an average economic growth rate of 5.8 per cent — the departing rate of the last government — over the next five years of its term amid poor showing of the agriculture sector next year. This is part of the 12th five-year plan currently being finalised by the Planning Commission […]