Business News
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Centre seeks control over energy firms | The Express Tribune
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[ad_1] ISLAMABAD: The federal government is seeking a free hand in administrative control and making decisions for energy companies without the involvement of provinces. The federal government claims that it has exclusive jurisdiction and can make decisions for the oil and gas sector, except for formulating new or amending the existing policies. Khyber-Pakhtunkhwa (K-P) and…
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Sukkur-Hyderabad Motorway project to get priority | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Communications and Postal Services Asad Mahmood said on Friday afternoon that China-Pakistan Economic Corridor (CPEC)’s Sukkur-Hyderabad Motorway (M-6) will be completed on a priority basis. The minister stated this in a meeting with Federal Minister for Water Resources Syed Khursheed Shah during his visit to the National Highway Authority (NHA)…
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Experts raise red flag for economy | The Express Tribune
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[ad_1] KARACHI: Pakistan is slowly and gradually heading towards Sri Lanka-like crisis situation due to the worsening domestic political and economic situation, which can be turned around through political dialogue and prudent economic policies. “We are at a distance of 30-35 days from Sri Lanka’s (crisis-like situation),” Exchange Companies Association of Pakistan (ECAP) General Secretary…
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Govt plans Rs800b PSDP | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Finance on Saturday agreed, in principle, to allocate Rs800 billion for the Public Sector Development Programme (PSDP) in the next fiscal year, as the Ministry of Planning seeks to cut the number of ongoing schemes by up to 90% due to the fast-shrinking fiscal space. The decision to increase development…
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Farmers criticise tractor subsidy mechanism | The Express Tribune
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[ad_1] LAHORE: The farming community has protested against the Federal Board of Revenue (FBR)’s SRO 563, issued on April 29, under which only those farmers can get tractors at 5% sales tax, who will provide the copy of pass book or landholding record verified by the Land Revenue Office. In all other cases, where farmers…
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Stock market tumbles in lacklustre week | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange witnessed a lacklustre trading week as jittery investors struggled to find positive cues amid continuously deteriorating macroeconomic indicators. Continuously falling rupee that hit record lows against the US dollar and depleting foreign exchange reserves haunted the trading environment in the outgoing week, thus keeping market participants at bay. Consequently,…
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Experts suggest making solar panels in SEZs | The Express Tribune
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[ad_1] BEIJING: Pakistan is manufacturing cellphones in collaboration with Chinese and other companies. Similarly, the country can also take the initiative to manufacture solar panels locally. Talking to CEN, Amjad Hussein, renewable energy expert and consultant in Pakistan, said that China is the leader in solar technology right now. Pakistan should work with China to…
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Measures to cut imports on cards | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Miftah Ismail on Saturday hinted at implementing a steep reduction in imports through a combination of regulatory duties and import controls, as the government seeks to curtail the current account deficit by around 40% to $10 billion in the next fiscal year. The government will compress the imports through various measures…
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N. Korea’s Kim says COVID ‘great turmoil’, 21 new deaths reported | The Express Tribune
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[ad_1] SEOUL: North Korean leader Kim Jong Un said on Saturday that the spread of COVID-19 had thrust his country into “great turmoil” and called for an all-out battle to overcome the outbreak, while 21 new daily deaths were reported among people with fever. North Korea made an unprecedented admission of its first COVID outbreak…
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Industries assured of gas supply | The Express Tribune
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[ad_1] KARACHI: Federal Minister for Commerce Syed Naveed Qamar has assured the textile industry that every effort will be made to supply gas to the industrial units in order to boost the country’s economy. “Gas supply has been affected due to increase in consumer demand,” he said while chairing a meeting with Karachi’s textile industry,…
