Rs 6b approved to PSO to prevent default
The Ministry of Finance has approved payment of Rs6b to Pakistan State Oil (PSO) on an urgent basis to avoid an international...
GE to install 1,320 MW power plant in Balochistan
GE is supplying Northwest Electric Power Design Institute Co. Ltd. (NWEPDI) and Tianjin Electric Power Construction Company (TEPC) with two units each...
GSMA recommends tax cuts for Telecom sector
Higher taxes mean lower purchasing power of an average consumer. (Groupe Spéciale Mobile) Association (GSMA) has set out a number of measures...
Capital Analytics, PSX collaborate to encourage research-based trading
Capital Analytics (CA) (subsidiary of Capital Stake), a fin-tech startup and the Pakistan Stock Exchange (PSX) have agreed to enter into a...
Govt raises Rs 284b through t-bills
The government managed to raise Rs 284b at an auction of market treasury bills (t-bills) on Wednesday, rejecting bids for 12-month papers...
Farmers compelled to borrow at higher rates than the industrial sector
The National Assembly Standing Committee on Finance and Revenue has unanimously approved a proposal asking the government to bring the cost of...
World Bank likely to give $200m loan for renewable energy project
The World Bank has initiated the process to approve a load of $200m for increasing the installed generation capacity of renewable energy...
US Federal Reserve increases benchmark interest rate a quarter point
The US Federal Reserve on Wednesday raised the benchmark interest rate a quarter point, after noting that inflation is moving closer to...
Circular debt impacts fuel supply chain
The unending power sector circular debt has impacted the entire fuel supply chain in Pakistan, choking ports, refineries and down to railway...
Govt releases Rs 483m under PSDP against a total budget of Rs 800b
The federal government has released Rs 482.8b (60.4pc), including Rs122b foreign aid, for different development projects under the Public Sector Development Programme...
HUBCO offers upto 40 pc TEL stakes to FFC & CMEC
The Hub Power Company (HUBCO) has informed in a notice sent to the Pakistan Stock Exchange (PSX) that the company has decided...
Abraaj Group likely to miss deadline for K-Electric deal
The Abraaj Group is likely to miss the deadline for the $1.8 billion deal to sell off its stake in K-Electric sale...
OGRA has the discretion to cancel LPG producers’ licenses
The Oil and Gas Regulatory Authority (Ogra) has the discretion to cancel licenses of the gas producing companies, if they fail to...
LNG import likely to double by July 2017
Import of Liquefied Natural Gas (LNG) is likely to double to1200mmcfd by July 2017 from its current volume of 600 million cubic...
CNG prices likely to go down in Punjab
Ghiyas Abdullah Paracha, central chairman of the All Pakistan CNG Association (APCNGA) is reported to have said that CNG prices are likely...