Abraaj took out $200 million from buyout fund to finance its own business: Report
U.S private equity firm TPG is in negotiations with investors in Abraaj’s healthcare fund to overtake management of the assets of the $1 billion fund
Pakistan doubles size of currency swap agreement with China: SBP
Pakistan obtained $1.5 billion from China during the first ten months of the current financial year 2018-19.
CDWP approves 24 projects worth Rs19.6bn, refers 12 to ECNEC
ISLAMABAD: The Central Development Working Party (CDWP) has approved 24 projects worth Rs19.6 billion out of which 12 projects worth Rs781.39 billion...
SBP to announce fiscal policy for two months on Friday
ISLAMABAD: The State Bank of Pakistan (SBP) will announce the fiscal policy for next two months on Friday.
As per a statement issued...
Pakistan needs 1.3 million new jobs every year: UNDP
The hospitality sector, accommodation and food, directly linked to tourism, accounts for only 1.6 percent of the country’s total employment, said the UNDP report
Pakistan’s growth backed by China’s A1 stable ratings, says Moody’s
Moody’s has reaffirmed Pakistan’s credit profile as B3 stable, while it boasts GDP growth of 5.8 per cent against 3.8 per cent amongst its peers.
FBR unhappy with tax incentives, may take up issue with next government
ISLAMABAD: The Federal Board of Revenue (FBR), which is unhappy over the tax incentives announced by the government in its recently announced...
New export package on the cards
The outgoing government in a bid to please the business community before the general elections is planning to announce another export package ranging from R30 billion to Rs42 billion.
FIA asks FBR to provide records of 1763 confiscated mobile phones
ISLAMABAD: The Federal Investigation Agency (FIA) has asked the Federal Board of Revenue (FBR) to provide records of 1763 confiscated mobile phones...
Country needs 8pc growth to create required jobs for growing population
Pakistan’s population currently has a huge youth bulge. Almost two-thirds of the population is under the age of 16, a large proportion of which will be entering the job market in the near future.
MoF adopts 42 budget recommendations, sends 108 proposals to planning
The government has adopted 42 recommendations of the Senate in the budget fully or partially, meanwhile 108 suggestions mostly related to the development sector, have been forwarded to Ministry of Planning and Development for incorporation.
Miftah Ismail allegedly pressurized former MD PLTL to resign
Incumbent Finance Minister Miftah Ismail has allegedly instructed Pakistan LNG Terminal Limited (PLTL) former managing director Azam Soofi to resign from his post apparently to save Pakistan Gas Port Consortium Limited (PGPCL) from a $40 million penalty.
SBP adheres to SHC order, invites KASB shareholders to register complaints
KASB was sold for a mere Rs1000, while Sindh High Court termed SBP’s role in the BankIslami-KASB merger as a “breach of statutory duty.”
SECP chief appointed on recommendation of Ishaq Dar
KARACHI: The appointment of Shaukat Hussain as new chairman of Securities and Exchange Commission of Pakistan (SECP) was made on the recommendation...
Rs659.5 bn released for development projects under PSDP 2017-18
ISLAMABAD: The government has released over Rs659.5 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes...