Category: Business

China will take steps to safeguard its interests, but won’t close its door to foreign investment and the global industry despite trade frictions with the United States, a Chinese official said on Tuesday. Earlier this month, before key Sino-US trade talks, Washington decided to widen its so-called “entities list” to include some top Chinese artificial […]

THE rural economy is set to suffer losses worth billions of rupees because of the low cotton crop yield, leading to an increase in poverty. The Pakistan Cotton Crop Assessment Committee (PCCC) in its first estimate of the current crop season predicts that only 10 million bales will be produced against the target of 15m […]

The National Accountability Bureau (NAB) on Monday announced the formation of a six-member committee for the improvement of the economy and to address the reservations of the business community and their “valid complaints”. In a press release, the accountability watchdog said that the committee has been formed after consultation with NAB’s executive board using the […]

The synchronised slowdown in the global economy remained the key phrase of the World Bank-International Monetary Fund (IMF) Annual Meetings 2019 in Washington DC. The newly appointed managing director kicked off the week-long consultations of the global financial and economic czars with a gloomy picture. The buzzword reverberated all along. Managing Director Kristalina Georgieva, who […]

The International Monetary Fund (IMF) and the World Bank provided assurances of their continued support to Pakistan’s economy in meetings with Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh, a press statement issued by the government on Monday said. According to the press release, issued by the Finance Division, Sheikh, along with […]

Last week, the federal cabinet took notice of the increasing food prices, a major source of surging inflationary pressures in the economy. It ordered (administrative) steps for controlling prices of essential food items and devise a strategy to curb inflation. The cabinet also decided to activate the provincial price control committees and deal strictly with […]

ISLAMABAD: While giving a four-month lifeline, the Financial Action Task Force (FATF) has strongly urged Pakistan to swiftly complete its full action plan by February 2020 and until then the country will remain on the ‘grey list’. The Paris-based FATF reviewed measures taken and progress made by almost 15 countries, including Pakistan, vis-à-vis anti-money laundering […]

LAHORE: Ministry of Energy’s Power Division is working on a proposal to give discounted power tariff hours, ending peak hours and issues/complications related to tariff applicable to the industrial sector. The division is also set to get input from the chief executive officers (CEOs) of all power distribution companies (DISCOs) and other stakeholders soon, Dawn has learnt. […]

The International Monetary Fund (IMF) appreciated the progress made by Pakistan in order to achieve economic stability and the government’s commitment to bring about reforms, a press release issued by the finance ministry said on Saturday. In a meeting with the Pakistani delegation, headed by Adviser to the Prime Minister on Finance Dr Abdul Hafeez […]

KARACHI: The country’s current account deficit (cad) in the first quarter of current fiscal year declined by a huge 64 per cent mainly on the back of a 21pc reduction in the imports bill. The State Bank’s latest data issued on Friday showed the current account deficit for July-September FY20 clocked in at $1.548 billion […]