Category: Business

MOST emerging markets suffer from financial exclusion. Pakistan is no exception. In a country of 220 million people, we only have 10m active loan customers. Commercial banks lend to less than 2m people. This appalling situation does not end. For a customer new to the industry, they usually take one month to provide a credit […]

ISLAMABAD: The Nati­onal Electric Power Regu­latory Authority (Nepra) on Thursday allowed the distribution companies — except K-Electric — an increase of Rs1.62 per unit in its tariff to formalise a collection of about Rs165 billion on account of two quarterly adjustments. A spokesperson for Nepra said the regulators’ new rate would become effective after a […]

ISLAMABAD: The government is claiming to have saved about Rs856 billion over a period of 10 years on account of renegotiation with independent power producers (IPPs) and change in terms of contracts and closure of public sector power projects. This was the crux of a meeting of the Cabinet Committee on Energy (CCoE) presided over […]

ISLAMABAD: Prime Minister Imran Khan was informed on Thursday that some leading businessmen of the country have formed a consortium to make a huge investment in two mega development projects — Urban Development and Bundle Island Project (UDBSP) in Karachi and Ravi River Front Urban Development Project (RRFUDP). In a separate meeting of the National […]

KARACHI: The State Bank of Pakistan (SBP) on Thursday eased 100 per cent cash margin requirements on the import of certain raw materials to support manufacturing and industrial sectors. The central bank said the easing of the cash margin would further enhance capacity of manufacturing and industrial sectors to contribute towards the recovery of the […]

ISLAMABAD: The Trade and Development Report 2020 (TDR2020) on Tuesday warned that the Covid-19 recesion — measured in terms of world gross product — will likely amount to a $12 trillion loss in global income by end of 2021. Moreover, the growth recovery in 2021 will coincide with rising unemployment, which is likely to reach double digits […]

ISLAMABAD: The government has called a meeting of the Economic Coordination Committee (ECC) of the Cabinet to approve the removal of additional custom and regulatory duties on a number of textile items and consider waiving guarantee fee on about $5.7 billion Chinese loans for nuclear power plants. To be presided over by Finance Adviser Dr […]

ISLAMABAD: Prime Minister Imran Khan on Tuesday was informed that owing to the reduction in local production and difference of prices between local and imported gas, full cooperation of all the provinces was required to meet the demand of gas during the next few months. Chairing a meeting to review the current demand and supply […]

KARACHI: As textile exporters continue to face gas shortages, Sindh Government Spokesperson and Adviser to Chief Minister Barrister Murtaza Wahab on Tuesday urged the federal government to immediately resolve gas shortage issues being faced by Karachi-based industrialists. Addressing Korangi Association of Trade and Industry (Kati) members on Tuesday, he said that Sindh has first right […]

At the end of December last year, India’s total liquid foreign exchange reserves stood at $427 billion. A gradual build-up boosted them to $582bn on Sept 4 — showing a massive increase of 36.3pc in eight months and four days. Pakistan’s total foreign exchange reserves that stood at $17.93bn at the end of last year […]