Category: News & Announcement

March 11, 2020: The Prime Minister of Pakistan, Imran Khan, held an interactive session on Wednesday, March 11, 2020, with the Managing Committee members of Overseas Investors Chamber of Commerce and Industry (OICCI) at the Prime Minister House, Islamabad where he also shared his views on the current economic situation of the country. Shazad Dada, President OICCI informed the Prime Minister that “OICCI is the largest chamber of commerce in Pakistan based on economic contribution and has always been in the forefront as an FDI ambassador of Pakistan and promoted the…

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ISLAMABAD: Prime Minister Imran Khan on Thursday said that power sector was the biggest challenge for the country, ARY News reported. Presiding over a meeting of the parliamentary party of ruling PTI and other allied parties in Islamabad, PM Imran said that they were producing costly electricity and selling it on cheap rates to the consumers. He said that they were providing relief to the masses despite losses in the energy sector. The overall political situation and other matters of importance also came under discussion in the meeting. Earlier on…

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International oil prices (Brent crude) have come down to 36.79 USD/bbl (Monday, March 9). By the time, readers read these lines, Brent crude may go down further. At its highest peak in the last days of February, Brent Crude was $56. This is a 35 percent drop in international oil prices in less than a month. The highest peak within the current year was $70.25/bbl. From that reference, it is almost a 50 percent drop today. This is a God-send opportunity and concession for the government of Pakistan and the…

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Coronavirus’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you going to work, forcing your employer to make you redundant, or bankrupting your business. The trillions of dollars wiped from financial markets this week will be just the beginning, if our governments do not step in. And if President Trump continues to stumble in his handling of the situation, it may well affect his chances of re-election. Joe Biden in particular has identified Covid-19…

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LONDON: Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 5% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply. Brent crude was up $1.83, or 5.5% on the day, at $35.05 per barrel by 1100 GMT but were still 23% lower on the week – the biggest weekly drop since December 2008. US West Texas Intermediate (WTI) crude was up $1.54, or 4.9%, at $33.05 per barrel but was also on track to lose a fifth of…

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