Category: Business

ISLAMABAD: President Dr Arif Alvi on Thursday said procedural transparency in the banking sector was important to keep a control on financial exploitation of consumers. Addressing a seminar organised by the Banking Mohtasib (Ombudsman), the president urged the banks to adopt such a pattern to effectively address the grievances of consumers in case of disputes. […]

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Thursday approved seven major road projects worth Rs162.607 billion along with three power projects of Rs410.66bn for Punjab and Khyber Pakhtunkhwa. The Ecnec meeting presided over by Adviser to the Prime Minister on Finance and Revenue Dr Hafeez Shaikh also approved in principle the […]

KARACHI: The US dollar lost 70 paisa on Thursday and was traded at three-and-half month low against the rupee. The dollar was closed at Rs165 in the interbank market which was closely followed by the open market where the demand for greenbacks was also flat. The dollar exchange rate has been steady around Rs166 for […]

WASHINGTON: Prime Minister Imran Khan urged the international community on Tuesday to create fiscal space for developing nations to help them cope with the adverse effects of the Covid-19 pandemic. Addressing a meeting of world leaders on the pandemic’s economic impact via video link, the prime minister also emphasised the need to ensure an equitable […]

ISLAMABAD: The Power Division on Tuesday took the Federal Cabinet in confidence over a string of measures to contain pace of increase in the circular debt and suggested some unpopular proposals for curtailing capacity payments to independent power producers (IPPs). The cabinet meeting chaired by Prime Minister Imran Khan took a special briefing from Planning […]

ISLAMABAD: Pakistan will this week begin the process of selling unused telecom spectrum in an auction it hopes will raise around $1 billion and enhance network capacity, said three senior government officials familiar with the matter. The spectrum is in the 1800 and 2100 MHz bands typically used by operators for 4G LTE (long-term evolution) […]

ISLAMABAD: The Senate Standing Committee on Finance was informed on Tuesday that there is no tax on export of goods from Gwadar port. The committee headed by its Chairman Senator Farooq H. Naek took up the issue of tax exemptions, establishment of green channels and linking of Gwadar port with Gulf countries. Federal Board of […]

The stock market went into turmoil on Monday on the sudden flare-up in political temperature with the arrest of Leader of the Opposition Shehbaz Sharif after his bail was rejected in a money-laundering case. The KSE-100 Index plummeted 960 points (2.30 per cent) and closed below the 41,000 level at 40,741. The market opened slightly in the […]

The Asian Development Bank (ADB) on Monday approved a $300 million loan to help strengthen Pakistan’s struggling finance sector. The fresh loan, according to an official of the bank, will be used to support measures to develop competitive capital markets and encourage private sector investment in the country. “The reforms proposed under this programme will […]

Pakistan has moved towards Euro V standard fuel despite the fact that a majority of locally produced vehicles are of Euro II standard. Only Honda Atlas Cars has been rolling out Euro IV vehicles. Others, including bike assemblers, have been making Euro II vehicles on the excuse that refineries are still producing Euro II fuels. […]