Monthly Archive:: January 2020

Senate panel to take up seven bills tomorrow

ISLAMABAD: The Senate Standing Committee on Law and Justice is set to take up a number of key legislations on Friday. The meeting of the committee headed by Javed Abbasi of the Pakistan Muslim League-Nawaz will discuss two constitution amendment bills moved …

Pakistan rejects US claims regarding CPEC financing

Pakistan has rejected US diplomat Alice Wells’ claims that the China Pakistan Economic Corridor (CPEC) is financed solely through loans or non-concessional financing with sovereign guarantees. During the weekly media briefing on Thursday, Foreign Office Spokesperson Aisha Farooqui sought to set the …

OGDC pulls index down by 65 points

KARACHI: From deep in red, the KSE-100 index re­­bounded in the last hour to close at marginal loss of 65 points (0.15 per cent) at 42,561. The market performance on Wednesday was mainly directed by one heavyweight scrip: Oil and Gas Develop­ment …

Half-yearly uplift spending rises to 55pc of allocation

ISLAMABAD: The government has increased development spending to about 55 per cent of its budgetary allocations, significantly higher than last year’s 35pc during the corresponding period. The data released by the Planning Commission shows that it has approved Rs384 billion disbursements for …

Foreign LNG firms to invest $500m without off-take guarantees

ISLAMABAD: A parliamentary body on Wednesday was informed that international companies investing in liquefied natural gas (LNG) will bring in roughly $500 million foreign direct investment without any financial subsidy and off-take guarantees from the government which earlier placed unnecessary financial burden …

Indo-Pak trade plunges in six months

KARACHI: Amid strained bilateral relations between New Delhi and Islamabad, the trade between the two countries continued to suffer, but still mostly skewed in India’s favour in the first half of 2019-20. The latest data issued by the State Bank of Pakistan …

Central banks mull setting up own cryptocurrencies

ZURICH: A group of central banks on Tuesday said they would discuss creating their own digital currencies — as Facebook prepares to launch a cryptocurrency and China’s state bank steps up plans for electronic money. The Switzerland-based Bank for International Settlements (BIS), …

Electric vehicle policy to focus on local production

ISLAMABAD: Adviser to the Prime Minister on Climate Change Malik Amin Aslam said on Tuesday electric vehicle (EV) policy would focus on encouraging manufacturing of vehicles locally with made-in-Pakistan tagline. Speaking at the inter-ministerial meeting on electric vehicle policy, Amin Aslam said …