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Pakistan to set up electric rickshaw & motorcycle factories

ISLAMABAD: Advisor to the Prime Minister on Climate Change, Amin Aslam talking to the media on Thursday said that Pakistan is planning to save 2 billion dollars in fuel costs by shifting to electric vehicles. According to media, the advisor said that the cabinet has given formal approval for the country’s first electric vehicle policy. He added that by incorporating ... Read More »

NEPRA approves Rs1.82 per unit increase in electricity tariff

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday allowed Rs1.82 per unit increase in electricity tariff under monthly fuel adjustment for electricity consumed in September, 2019, expect lifeline consumers, according to a notification issued by the regulator. As the decision takes effect, the consumers will have to pay additional amount starting from the month of December. Collectively, the ... Read More »

PIA expands its operation by inducting another Airbus-320 to its fleet

KARACHI: In a move to expand flight operation, the Pakistan International Airlines (PIA) on Thursday inducted an Airbus-320 in its fleet, bringing the number of airbuses to 12. According to media, the national flag-carrier is working on its business plan and recently inducted an Airbus-320 into its fleet on dry lease. The aircraft was handed over to the PIA. According ... Read More »

Govt to improve labour standards for conducive business environment: Dawood

ISLAMABAD: Prime Minister’s Adviser for Commerce, Industries and Investment Abdul Razak Dawood on Wednesday said the government’s priority was to improve labor standards and provide conducive working environment at work place for enhancing the quality of labor. “We are working in all 27 conventions given by European Union after signing the Generalized Schemes of Preference (GSP- Plus) including 7 conventions ... Read More »

Imported tomatoes stabilize its price in wholesale market

KARACHI: Prices of tomatoes were seen stabilize as 13 containers loaded with the imported tomatoes from Iran reached Karachi’s Sabzi Mandi. According to media,  the price of per kg tomatoes in Karachi’s Sabzi Mandi witnessed a reduction of 100rupees, leading its rate to rs 180 per kg in the wholesale market. The prices are expected to see more reduction after ... Read More »

BRI effective instrument of cooperation: Shah Mehmood Qureshi

ISLAMABAD: Underlining the importance of the Belt and Road Initiative of China, Foreign Minister Shah Mehmood Qureshi has said the BRI has emerged as the single most effective instrument of globalization and international development cooperation. He was addressing a conference on BRI in the federal capital, here on Wednesday. Shah Mehmood Qureshi said Pakistan-China friendship is an example for the ... Read More »

All federal offices to be converted into e-offices by June 2020

ISLAMABAD: National Information Technology Board (NITB) Wednesday stated that all federal government offices will be converted into E-offices by June 2020. This was informed by the officials of NITB in 9th National Assembly standing committee on Information Technology which met here with Member National Assembly (MNA) Ali Khan Jadoon in the Chair. The committee was apprised that a few ministries ... Read More »

NEPRA reserves ruling as DISCOs file application for Rs17.2b recovery of arrears

ISLAMABAD : The National Electric Power Regulatory Authority (NEPRA) on Wednesday reserved its ruling after hearing an application filed on behalf of the power distributing companies (DISCOs) for quarterly recovery of loses and arrears amounting to Rs17.2 billion in the balance sheet from July to September, 2019. If approved in the form of power arrears, the amount will put additional ... Read More »

Timesaco offers free rides for customers in Islamabad & Rawalpindi

ISLAMABAD: Timesaco, the instant services company in Pakistan offers free rides for customers in Islamabad and Rawalpindi on its taxi service. Timesaco launched online taxi service in mid of this year in ten major cities including Islamabad, Rawalpindi, Lahore, Karachi, Peshawar, Abbottabad, Faisalabad, Gujranwala, Sialkot and Multan. Now, the company is offering multiple discounts and free rides for customers, Donald ... Read More »

Governor SBP appreciates banks for efforts in increasing credit to agri sector

KARACHI: Governor State Bank of Pakistan (SBP) Dr Reza Baqir on Tuesday appreciated the banks for their efforts in increasing the bank credit to the agriculture sector, which reached its historical high by end of FY19. Presiding over annual meeting of the Agricultural Credit Advisory Committee (ACAC) held in Peshawar, KPK as part of SBPs continued efforts to enhance agriculture ... Read More »

SECP warns public against investing in companies offering ‘unreal’ profits

ISLAMABAD: The Security and Exchange Commission of Pakistan has issued a warning to the general public regarding investing in fake investment companies and Ponzi schemes. The Twitter page of SECP, on Tuesday, posted that the general public should be aware of investing with companies offering attractive and unreal profits. “SECP has become aware that some companies, including B H Online ... Read More »

Pak-China FTA to be implemented by Dec 1: Dawood

ISLAMABAD: Advisor to the Prime Minister for Commerce and Investment Abdul Razak Dawood said on Monday that the Free Trade Agreement (FTA) with China would be implemented by Dec. 1, and Pakistan’s exports would enhance by USD 500 million in the first year. He was talking to the media after addressing the trade agreement signing ceremony between Pakistan’s Service Tyre ... Read More »

Pakistan become best destination for foreign investment: Shah Mehmood Qureshi

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Tuesday said that Pakistan has become the best destination for foreign investment. Talking to a delegation of ‘adecto group’, a Malaysia-based telecommunications infrastructure services company, FM Qureshi said that the government was providing every possible facility to foreign investors and created business-friendly environment in Pakistan. He said that they introduced new economic reforms ... Read More »

Nadeem Babar for producing quality manpower in petroleum sector

ISLAMABAD: Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar Tuesday underlined the need for increased collaboration between academia and industry to produce quality manpower, having skills to use modern techniques and technologies in tapping the country’s unexplored hydrocarbon potential. “We will have to produce skilled human resource and stop brain drain with the nexuses among academia, industry and ... Read More »

Pakistan decides to renegotiate gas price with TAPI Co

ISLAMABAD: Pakistan is in the process of renegotiating gas price with Tapi Project Company Limited (TPCL), following which construction work will begin on Pakistan’s section of the multibillion-dollar transnational gas pipeline in Chaman. “We are keen to have a new compatible gas price under the Turkmenistan-Afghanistan-Pakistan-India (Tapi) project. Accordingly, renegotiations for the gas price will take place with TPCL before ... Read More »

Malaysia keen to help Pakistan’s tourism sector

ISLAMABAD: Malaysia has shown keenness to help Pakistan’s burgeoning tourism and hospitality industry in its promotion and projection, along with logistical support. Government sources revealed that there is a good chance of a memorandum of understanding (MoU) between the two countries on the matter. Special Assistant to the Prime Minister for overseas Pakistani’s and Human Resource Development, Syed Zulfikar Bukhari ... Read More »

Pakistan generates Rs31b through defence exports this financial year: Zubaida Jalal

DUBAI: Federal Minister for Defence Production Zubaida Jalal on Monday said that Pakistan made at least Rs31 billion from the export of defence-oriented products this financial year. The minister was talking on the sidelines of the Dubai Airshow 2019 that kicked off on Sunday. The airshow was opened by vice-president and prime minister of UAE and ruler of Dubai, Sheikh ... Read More »

Pakistan’s pharma imports decline

ISLAMABAD: The imports of medicinal products into the country during the first quarter of financial year (2019-20) witnessed a decrease of 12.11 percent as compared to the corresponding period of last year. Pakistan imported medicinal products of worth $257.139 million during July-September (2019-20) compared to the imports of $292.566 million during July-September (2018-19), showing negative growth of 12.11 percent, according ... Read More »

SC restricts govt from selling Pakistan Steel Mills land

ISLAMABAD: The Supreme Court (SC) on Monday barred the government from selling land owned by Pakistan Steel Mills to generate funds to pay provident funds and gratuities to mills’ former employees. The court order came during the hearing of a petition concerning a shortage of funds to pay to former PSM employees. A two-member bench, headed by Justice Gulzar Ahmed, ... Read More »

Cement exports grow 16.48pc in four months FY2019-20

ISLAMABAD: Cement exports from the country grew by around 28pc to 798,000 tonnes in Oct 2019, as against 616,000 tonnes in the same month of 2018. The surge in cement exports was particularly seen from the southern region, which rose by 48.75pc, from 0.352 million tonnes in Oct 2018 to 0.591 million tonnes in Oct 2019. Exports from the northern ... Read More »