ECC approves supply of uninterrupted gas to zero-rated export-oriented industries

ECC approves supply of uninterrupted gas to zero-rated export-oriented industries

ISLAMABAD: The Economic Coordination Committee at its meeting in Islamabad on Tuesday approved a mechanism for supply of uninterrupted gas to zero-rated export-oriented industries. The meeting, chaired by Finance Minister Asad Umar, approved the supply of RLNG to the export industry for three months from December this year to February...

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Punjab unveils nearly Rs2 trillion budget for remaining fiscal year to eliminate financial crisis

Punjab unveils nearly Rs2 trillion budget for remaining fiscal year to eliminate financial crisis

LAHORE: The Punjab government on Tuesday unveiled a budget of Rs2.02651 trillion for the remaining eight months of current fiscal year 2018-19. The provincial finance minister, during his budget speech, lamented that the previous government’s corruption and shortsightedness resulted in a financial crisis which forced the Pakistan Tehreek-e-Insaf (PTI) government...

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Sindh Minister for Culture & Education Syed Sardar Ali Shah offers incentives to those releasing films in Sindhi

Sindh Minister for Culture & Education Syed Sardar Ali Shah offers incentives to those releasing films in Sindhi

JAMSHORO: Sindh Minister for Culture & Education Syed Sardar Ali Shah has announced to offer incentives for making films in Sindhi language and the culture department would extend unflagging cooperation to the filmmaker in this adventure to gear up the initiative. “Sindhi films constitute a great source of entertainment to...

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Pakistan likely to get hooked into a 3-year IMF agreement of $15bn

Pakistan likely to get hooked into a 3-year IMF agreement of $15bn

A potential International Monetary Fund program for Pakistan could be valued at $15 billion, the Institute of International Finance (IIF) reported. According to the report, IIF expects an agreement on a three-year IMF program of $15 billion by end of this year. The rupee’s 24% depreciation since end of 2017...

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Fluctuations in the US dollar against rupee continues, dollar hikes by Rs.1.57 in interbank market

Fluctuations in the US dollar against rupee continues, dollar hikes by Rs.1.57 in interbank market

KARACHI: Fluctuations in the US dollar against rupee continued as the market opened on Monday. The greenback increased by Rs1.57 and was being traded at Rs133.50 after closing at Rs131.93 on Friday. Following a steep increase in the greenback’s price last week, the rupee made a recovery against the dollar...

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KSA initiates high-speed railway for travelers commute

KSA initiates high-speed railway for travelers commute

Saudi Arabia´s new high-speed railway opened to the public on Thursday, whisking Muslim pilgrims and other travelers between Makkah and Madina. The Haramain High Speed Rail system will transport passengers 450 kilometres (280 miles) via the Red Sea port of Jeddah at speeds of up to 300 kilometres per hour....

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“Where was the money spent?” PM directs Ministry of Finance to furnish detailed analysis spending over the last 10 years

“Where was the money spent?” PM directs Ministry of Finance to furnish detailed analysis spending over the last 10 years

ISLAMABAD: Prime Minister Imran Khan has directed the Ministry of Finance to furnish details of foreign loans taken as well as their spending in the last 10 years. He issued these directions during the Federal Cabinet meeting in Islamabad. PM Khan directed the Finance Ministry to submit a detailed analysis...

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SBP: Pakistan attracts US $11.96 billion net FDI over the last 5 years

SBP: Pakistan attracts US $11.96 billion net FDI over the last 5 years

ISLAMABAD: According to State Bank of Pakistan (SBP) the country managed to attract nearly US $11.96 billion worth of net Foreign Direct Investment (FDI) during the last five years; 2013 to 2018. Year wise data reveals that during 2012-13, net inflow of FDI was recorded at US $1.456 billion, while...

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IMF Chief: Leaders need to fix broken economic models, Pakistan seeks bailout

IMF Chief: Leaders need to fix broken economic models, Pakistan seeks bailout

Pakistan, the flagship country for China’s global infrastructure building initiative, said Monday that it needed a bailout from the International Monetary Fund, amid growing concerns that Beijing’s program is pushing recipient countries into financial crisis. International Monetary Fund (IMF) chief Christine Lagarde said she would meet with Pakistani officials on...

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Auto manufacturers to demand increased prices as dollar shoots up and sales target get inversely affected

Auto manufacturers to demand increased prices as dollar shoots up and sales target get inversely affected

KARACHI: The free dip of the rupee this year against the US dollar will be impacting many industries amongst which auto industry will be one of the worst affected as it is bracing for weak demand. All major auto manufacturers have elevated car prices three to four times since December 2017...

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