Category: Business

ISLAMABAD: The Privatisation Commission (PC) on Tuesday started the process of evaluating draft transaction structure for the privatisation of the Pakistan Steel Mills. The details will be discussed by the transaction committee at its meeting on May 14. Financial advisers hired by the PC have completed due diligence and reports received in this respect are […]

KARACHI: Despite the easing in lockdown, tech-enabled mobility startups operating in the country continue to have their services shut, yielding financial significant losses to them. “Despite our full assurance to follow the Standard Operating Procedures (SOPs) laid down by the government, services haven’t been allowed to resume and is causing losses to both the company […]

ISLAMABAD: Amid a fresh political debate on constitutional and financial powers of the federation and its units, the government on Tuesday constituted the 10th National Finance Commission (NFC) to announce a new award for sharing of federal divisible resources between the Centre and the provinces. The Ministry of Finance formally notified the constitution of the […]

ISLAMABAD: Just four days before the expiry of the extended deadline given to an inquiry commission for the release of forensic audit reports on the 2019 sugar and wheat crises, federal Minister for Planning and Development Asad Umar has recorded his statement on the decisions taken by the Economic Coordination Committee (ECC) and the federal […]

KARACHI: External debt servicing in the third quarter of the current fiscal year declined by 30 per cent compared to second quarter, data released by the State Bank of Pakistan (SBP) showed on Tuesday. The country paid $2.728 billion in external debt servicing during the third quarter (January-March) compared to $3.907bn in the second quarter […]

ISLAMABAD: In a risky move, the petroleum ministry is seeking purchase of oil at $8-15 per barrel higher than the current low price for hedging of about 20 per cent of its total oil imports and pass on the cost of this higher rate to consumers. In a summary moved to the Economic Coordination Commit-tee […]

ISLAMABAD: The Pak­istan Young Pharmacist As­­sociation (PYPA) has written a letter to Special Assis­tant to the Prime Minister on Accountabi-lity Shahzad Akbar urging him to look into the import of over 450 medicines from India despite a ban. They said the federal cabinet had been briefed that there was a shortage of medicines for cancer […]

THE agriculture sector is facing one of its biggest crises. On one hand, erratic weather and the resultant untimely heavy rains and hailstorms, coupled with the locust attack, are making it hard for farmers to sleep at night. On the other hand, the lockdown since mid-March has created many challenges and negatively impacted the rural […]

Saudi Arabia’s finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid record low oil prices and a coronavirus-led economic slump. The measures, which could stir public resentment with the cost of living rising, come as the petro-state steps […]