IT minister tells Senate committee headway expected in recovery of $800m from Etisalat
While answering queries from Senator Imamuddin Shouqeen regarding the sale of PTCL properties, Mr Siddiqui said PTCL had been barred from selling its properties
CCoE bars import of imported furnace oil for three months
The Power Division apprised the committee that furnace oil was being utilized to stabilize fuel supply and in the last few months it was being used by power plants rather than LNG
Loan size for Rabi crops being raised to Rs30,000 under E-credit scheme
Minister was told in the meeting that under E-credit scheme interest-free loans of Rs 453,682 had been provided during last four seasons while loans of 32.027 percent were being provided during the ongoing season
Pakistan’s net international reserves stand at negative $4b, excluding IMF debt obligations
Till September 2018, SBP had obtained $7.22 billion from commercial banks in the aegis of forward and currency swap arrangements
Indonesia announces unilateral concession on 20 tariff lines to Pakistan: Dawood
Abdul Razak Dawood said that the ministry of commerce had evolved a comprehensive national tariff policy, which would be presented before the Cabinet for approval on Thursday
Cabinet approves appointment of Arif Usmani as NBP CEO: Report
Mr Usmani has been serving at Mashreq Bank and his previous experience includes stints as global head of wholesale banking at Abu Dhabi Islamic Bank PJSC, managing director and country officer of Citibank NA Pakista
SBP issues ‘Security of Digital Payments’ for banks/MFB in the wake of recent cyber attacks
SBP on Wednesday issued “Security of Digital Payments’ in order to safeguard banks/MFBs and their customers from potential losses due to cyber-crimes and online banking frauds.
Pepsi and Coca-Cola pouring $1.4 billion into Pakistan: government
Pepsi planned to make “a further investment of $1.2 billion” in next five years, Khan’s office said on Wednesday, after the company’s chief executive for Asia, Middle East and North Africa, Mike Spanos, led a Pepsi delegation that met Khan
Volkswagen’s entry to challenge dominance of Asian producers in Pakistan: Fitch Solutions
Fitch Solutions projected LCV sales in Pakistan to average annual growth of 8.7% over FY19-FY22, reaching a total of around 40,400 units by the end of FY22
Suzuki Motors likely to invest $450m in Pakistan
KARACHI: Suzuki Motor Corporation (SMC) Chairman Osamu Suzuki on Tuesday expressed his interest to invest $450 million in setting up another production...
Next Capital announces client’s intention to acquire 49.90% stake in Johnson and Phillips
Johnson and Phillips have a market capitalization of Rs343.90 million and counts itself amongst the first foreign company to have opened an office in Pakistan after independence in August 1947
Vopak to buy 44% stake in Elengy Terminal Pakistan
The acquisition will be done in separate transactions with International Finance Corp (IFC) and Engro Corp and will include a 29 percent share it had already said it would buy in July, the company said in a statement
Dawood praises Pak Suzuki Motors for achieving 2m unit production
KARACHI: Advisor to Prime Minister on Commerce, Textile, Investment, Industries and Production Abdul Razak Dawood on Monday night inaugurated the ceremony held by...
ECC okays Rs200bn Islamic banks facility to settle circular debt
Committee decides using RLNG to avoid gas load-shedding during winter
ISLAMABAD: In a move to settle the ever-ballooning circular debt in the power...
Japan’s Line ties up with Tencent, Mizuho; shares jump
Japanese retailers offering Line Pay services will be able to process payments from the growing numbers of Chinese tourists using Tencent’s WeChat Pay from early next year, Line said