KARACHI: Pakistan’s economy has started showing signs of recovery from the Covid-19 pandemic as Port Muhammad Bin Qasim handled 9% more cargo in July 2020 compared to the corresponding month of previous year. In a tweet on Thursday, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi underlined that the Port Qasim Authority (PQA) handled 4.8 million tons of cargo…
Read More
ISLAMABAD: How is Pakistan’s public sector pension system managed? What are the main components of the annual budget and current account? What is the total revenue, profit and annual repatriation by the multinational companies operating in Pakistan? What is the share of profit that private and foreign banks earn in Pakistan; what are their main lending portfolios and how much…
Read More
KARACHI: Without exports no country has ever developed, just like no country has developed without generating other countries’ interest in its economy through foreign investment, remarked Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh. Speaking at a webinar titled “Stabilising the economy through realistic reforms”, organised by the Karachi Council of Foreign Relations, Shaikh said because…
Read More
LONDON: Oil prices fell on Thursday on demand concerns driven by cautious views from OPEC+ producers and the US Federal Reserve regarding economic recovery from the coronavirus pandemic. Brent crude LCOc1 was down $0.48, or 1%, at $44.89 a barrel at 0933 GMT and US West Texas Intermediate (WTI) CLc1 fell $0.34, or 0.8%, at $42.59 a barrel. “The surge…
Read More
KARACHI: Mari Petroleum Company Limited’s profit surged 25% to Rs30.31 billion in the year ended June 30, 2020 due to notable depreciation of rupee against the US dollar, higher sales and surge in finance income. The oil and gas exploration firm had booked a profit of Rs24.32 billion in the preceding year ended June 30, 2019, the company said in…
Read More
ISLAMABAD: The Water and Power Regulatory Authority (Wadpa) has sought about 150 per cent increase in its revenue requirement for the current fiscal year by raising bulk power tariff by about 30pc. In a tariff petition filed before the National Electric Power Regulatory Authority (Nepra), Wapda has demanded that its total annual revenue requirement for 2020-21 be increased to Rs177.5bn,…
Read More
KARACHI: Welcoming the agreement between the government and independent power producers (IPPs) for lowering generation costs, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Anjum Nisar on Thursday also called for forensic audit of these firms to save industries. He further sought impeachment of those who were responsible without any discrimination in the larger national interest. While…
Read More
ISLAMABAD: Leading political parties on Thursday vowed to ensure a conducive political environment and favourable public opinion for the progress and development of the China-Pakistan Economic Corridor (CPEC), besides shielding it from threats. The political parties at the conclusion of the Second Conference of the China-Pakistan Economic Corridor (CPEC) Political Parties Joint Consultation Mechanism (JCM), through a joint statement, denounced…
Read More
