Month: May 2021

The President Hyderabad Chamber of Commerce and Industry Fahad Hussain Shaikh and members of the governing body have demanded the high ups of the Federal and provincial government to exempt power load management during business hours. In a joint statement issued here on Monday, they said that the government has been engaged in boosting up the economic development therefore it is the need that the issues being faced by the business community should be addressed. The Sindh government has already reduced the business hours due to COVID-19 with directives of…

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Prime Minister Imran Khan while chairing the National Coordination Committee on Housing (NCCH) asked Finance Minister Shaukat Tarin to present a comprehensive plan for providing easy low cost loans to weaker segments of society, including for house building. It is coincidental that the same day the State Bank of Pakistan, the more appropriate entity to deal with commercial banks’ lending to the disadvantaged, a 60 billion rupee collateral-free lending scheme to small and medium enterprises (SMEs) for three years was reported in Business Recorder – a largely unserved sector that…

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Fitch Ratings – Hong Kong – 24 May 2021: Fitch Ratings has assigned Pakistan Water and Power Development Authority ‘s (WAPDA, B-/Stable) proposed US dollar senior unsecured notes a rating of ‘B-‘. The proceeds of the proposed notes will be used to finance or refinance eligible green projects. KEY RATING DRIVERSThe proposed notes will be direct, unconditional, unsubordinated and unsecured obligations of the issuer and will rank pari passu with its present and future unsubordinated and unsecured obligations. RATING SENSITIVITIESFactors that could, individually or collectively, lead to positive rating action/upgrade:…

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Special Assistant to Prime Minister (SAPM) on Climate Change Malik Amin Aslam on Sunday said that Pakistan would become the world’s best example in green energy revolution as government was well on track to meet the renewable energy targets by 2030 and will raise it to 60% through renewable resources. Pakistan was encouraging private sector investment in renewable energy projects to reach its clean energy goal by 2030 and it would produce 60 per cent of its electricity from renewable sources, he said this while talking to media. The SAPM…

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