Business News Archive

Another hurdle crossed as FATF meetings loom

ISLAMABAD: The Asia-Pacific Group — a regional affiliate of the Financial Action Task Force (FATF) — has adopted Pakistan’s third Mutual Evaluation Report (MER) on strengthening of anti-money laundering and countering financing terrorism (AML/CFT) safeguards and is expected to make public its …

Production from two major gas fields stopped

ISLAMABAD: The government has stopped production of cheap gas from two major fields and drastically reduced production from a third one to ensure smooth flow of expensive imported liquefied natural gas (LNG) into the gas network facing capacity constraints. A senior petroleum …

Rs200bn to be raised for circular debt payment

ISLAMABAD: Amid ongoing probes into dollar-based tariff indexations, ‘unnatural profits’ in the power sector and last year’s capacity payments of over Rs466 billion, the government will be raising about Rs200bn through Islamic bonds next month to reduce circular debt after securing about …