PSX stays bearish, loses 265 points


ISLAMABAD   –   The 100-index of the Pakistan Stock Exchange (PSX) con­tinued with bearish trend on Friday, losing 265.57 points, a negative change of 0.41 percent, closing at 65,151.83 points against 65,417.40 points the previ­ous trading day. A total of 208,408,686 shares valuing Rs.7.149 billion were traded during the day as compared to 389,654,899 shares valu­ing Rs. 11.307 billion the last…

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SBP reserves cross $8bn mark, again


KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) increased by $105 million to reach $8 billion again. The SBP’s report on Thursday indicated that the reserves of both commercial banks and the SBP increased during the week ending March 15, showing the presence of excess dollar liquidity in the banking market, which also supports exchange rate stability.…

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Aggressive’ funding for nuclear energy needed


Dar calls for support from global financial institutions in developing initiative BRUSSELS: Minister for Foreign Affairs Ishaq Dar, on Friday, called for “aggressive” financing by International Financial Institutions and multilateral development organisations for developing countries to help them launch nuclear energy projects. Speaking in a video message after attending the First Nuclear Energy Summit hosted by the Belgian government and…

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Chinese investment: cabinet panel notified


ISLAMABAD: Prime Minister Shehbaz Sharif has constituted the Cabinet Committee on Chinese Investment Projects (CCoCIP).According to a notification issued by the Prime Minister’s Secretariat on Friday, the Minister for Planning, Development and Special Initiatives would be the chairman of the CCoCIP.While the Minister for Foreign Affairs, Minister for Interior, Minister for Finance, Minister for Commerce, Minister for Petroleum, Minister for…

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Privatisation of Discos, various IPPs projects under study


ISLAMABAD: Federal Minister for Privatisation and Board of Investment Abdul Aleem Khan and Federal Minister for Power and Works Awais Ahmed Khan Leghari held a detailed meeting in which they discussed the privatisation of DISCOs and various projects of IPPs for the purpose of privatisation.It was decided that the process of privatisation would be accelerated.Similarly, the pace of handing over…

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PM sets up seven cabinet panels; to lead ECC, CCoE


• Five other bodies to oversee affairs related to airports’ outsourcing, state-owned enterprises, privatisation, disposal of legislative cases and Chinese projects• Reko Diq feasibility to be completed by year-end ISLAMABAD: Prime Minister Shehbaz Sharif on Friday formed seven cabinet committees, inclu­ding the Economic Coordi­nation Committee (ECC) and the Cabinet Committee on Energy (CCoE). According to separate notifications issued by the…

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Govt plans PMU for upgrades amid refineries pushback


PMU will be led by DG (Oil) and will consist of representatives from refineries, OGRA, and a consultant to be jointly engaged by the refineries KARACHI: The government is setting up a project management unit (PMU) to streamline the upgrade of the country’s aging refineries under the oil refining policy, official documents showed. “Pursuant to the Cabinet Committee on Energy…

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