Category: Business

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved Prime Minister’s Rs24 billion Package to reduce input cost for farmers for the upcoming rabi season, with the intent of increasing wheat production. The approval came at a time when farmers were working on sowing rabi crops and the government’s timely intervention is estimated to […]

ISLAMABAD: Prime Minister Imran Khan on Thursday said that he would soon visit Balochistan and unveil a comprehensive development package for “backward” southern parts of the province. Presiding over a meeting on development projects for backward areas of the province, he said: “I will soon visit south Balochistan and announce a comprehensive development package for […]

KARACHI: The State Bank of Pakistan (SBP) earned highest-ever profit in its history during the fiscal year 2019-20 after reporting losses in the preceding year mainly on account of stability in the exchange rate, the central bank’s Annual Per­for­­­mance Review 2019-20 showed on Thursday. The bank earned a net profit of Rs1,163.433 billion in FY20 compared to […]

LAHORE: Pakistan’s first and mega High Voltage Direct Current (HVDC) project — Matiari-Lahore transmission line — has almost been completed as engineers finished the entire line stringing work besides energising the converter station near Lahore. The project, launched under the China-Pakistan Economic Corridor, has now officially entered the testing and commissioning phase that is likely […]

The Financial Action Task Force (FATF) has found that Pakistan has successfully complied with 21 out of 27 points of action and decided to keep the country on its ‘grey list’ until February 2021, the watchdog’s president said on Friday. FATF President Marcus Pleyer announced the decision at a virtual press conference held after the […]

KARACHI: Millers on Thursday reduced prices of various varieties of flour by Rs7 per kg prior to release of Sindh government’s wheat to millers followed by drop in price of imported and locally-produced wheat. Pakistan Flour Mills Association Sindh Zone Chairman Chaudhry Mohammad Yousuf said the price of flour no. 2.5 has been slashed to […]

ISLAMABAD: The Com­petition Commission of Pakistan (CCP) has finalised its inquiry report on the sugar sector and noted that the Pakistan Sugar Mills Association (PSMA) has maintained cartels among its members not only to protect inefficient mills but also keep the commodity’s prices high. The CCP report highlighted that the PSMA was maintaining an illegal […]

ISLAMABAD: The federal government has decided in principle the outsourcing of responsibilities of billing and recovery of loss-making grids of distribution companies starting with Peshawar Electric Supply Company (Pesco) and introduction of smart meters in at least three companies. A cabinet member told Dawn that a plan on outsourcing mechanism would be presented to the federal cabinet […]

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday acknowledged that the circular debt has crossed Rs2 trillion mark with an increase of more than 30 per cent in the last fiscal year. In its ‘State of the Industry Report 2020’, the power regulator said that the circular debt has reached Rs2.15tr by June […]

ISLAMABAD: Prime Minister Imran Khan on Tuesday reprimanded the relevant authorities for delaying the import of wheat which led to flour shortage in the country. Presiding over a meeting of the federal cabinet, Prime Minister Khan said the situation could have been averted if at least 1.5 million tonnes of wheat had been imported in […]