Month: April 2020

KARACHI: Pakistan’s stock market was down on Tuesday with oil and gas recording a major dip after international oil prices crashed to below zero.Experts, however, are optimistic that the country could benefit from the historically low oil prices.The Pakistan stock exchange’s benchmark KSE-100 index was down by more than 3 percent or 1,131 points by afternoon trade as investors weighed heavily on an unprecedented meltdown in the international oil market where oil prices crashed through zero, closing at -$37 per barrel.“The market is in pressure today due to the international…

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ISLAMABAD -UNS – The meeting of federal cabinet agreed to public the huge corruption scandal report in power sector will public in coming days. Independent Power Producers (IPPs) looting Pakistani nation with cooperation of previous governments and Bureaucracy. Federal Investigative  Agency FIA and others government agencies compiled a report on the huge corruption  of  IPPs. The IPPs report was submitted to Prime Minister Imran Khan and the PM  committed to  exposed the corruption and recovered looted money. The  federal cabinet meeting was held in Islamabad on Tuesday,with Prime Minister Imran…

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ISLAMABAD: Federal Minister for Power Division Omar Ayub Khan on Monday held talks with the independent power producers (IPPs) and discussed the issues pertaining to lowering power tariff of the electricity produced by them, ARY NEWS reported citing sources. According to details, the federal minister was briefed during the meeting that there overall 124 power plants producing electricity from wind energy remained operational in the country. “They produce 1236 megawatts of electricity,” they said. It was briefed that solar power plants were also producing 436 megawatt electricity while power plants…

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Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan on Tuesday said that the federal cabinet has decided to send chloroquine tablets to “friendly nations” to help them in their time of need. While briefing the media after a cabinet meeting in Islamabad, Awan said that one million chloroquine tablets will be sent to Saudi Arabia and United States each, 500,000 to Turkey and Italy each, 5m to the United Kingdom, 700,000 to Kazakhstan and 300,000 to Qatar. The SAPM added that Prime Minister Imran Khan…

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Thanks to government stimulus packages, liquidity is coming back to the market. It will keep enough of the economy afloat so that it can climb out of recession rapidly once the various lockdowns are lifted. But the way much of it is structured means that it will likely benefit already better capitalized larger businesses, over the smaller operators who may struggle. It would be an over-simplification, however, to paint this new era as one of “big” versus “small”, or “incumbents” versus “upstarts”. The past decade’s tropes that pitted fintechs and…

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