Day: April 8, 2020

The phone is constantly ringing in a small dark room furnished only with chairs and a desk with a register lying open on the top. On any other Saturday, the phone attendant would be jotting down the details received on the phone in the register. But today, he is just busy answering every call with — “The main grid station has tripped and we don’t know how long it will take for the electricity supply to be restored.” Bang! The receiver is put back before the voice on the other…

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 8th Apr, 2020 ) :Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said that a delegation of China Machinery Engineering Corporation and Zonergy Company Limited China called on Prime Minister Imran Khan here on Wednesday. In a tweet, she said that the delegation handed over goods worth Rs 3 million and a donation of Rs 5 million cash for Prime Minister‘s Corona Releif Fund.

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Economic growth in Pakistan is expected to slow to 2.6 percent this year due to ongoing stabilization efforts, slower growth in agriculture and the impact of the COVID-19 outbreak, before recovering to 3.2 percent in 2021 according to the Asian Development Bank’s (ADB) latest annual flagship economic publication, Asian Development Outlook (ADO) 2020. “Pakistan’s strong and decisive policy measures have started to yield positive results in reversing macroeconomic imbalances and narrowing current account deficits,” said ADB Country Director for Pakistan Xiaohong Yang. “Although Pakistan’s economy is in better shape than before,…

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Moscow: Ten oil producing nations from outside the OPEC+ alliance including the United States have been invited to a meeting aimed at reaching an agreement to reduce oversupply, Russian news agency TASS reported on Tuesday. During a meeting to be held via video conference on Thursday, OPEC and its allies will discuss oil production cuts. The meeting comes a week after US President Donald Trump claimed that leading producers Russia and Saudi Arabia will slash output to boost tumbling prices. Moscow has said it is prepared to discuss cutting daily…

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ISLAMABAD:  Karachi Electric (KE) is reportedly in a serious financial crisis due to non-payment of receivables by governments, well-informed sources in KE told Business Recorder. The company’s Chief Financial Officer (CFO), Aamir Ghaziani, has brought its financial position to the notice of the federal government, which resisted sales of its shares to China’s Shanghai Electric Power Company Limited subject to clearance of its receivables. In a letter with reference to prevailing situation due to Coronavirus (Covid-19) pandemic and the relief package announced by the Prime Minister to tackle slowdown in the country, KE said…

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