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Weekly inflation up 1.23pc

ISLAMABAD: The weekly inflation for the week ended on August 8, for the combined income group, witnessed an increase of 1.23 percent as compared to the previous week. The Sensitive price Indicator (SPI) for the week under review in the combined group was recorded at 270.31 points against 267.02 points registered in the previous week, according to the latest data ... Read More »

Govt orders all employees to declare assets by Sept 1

ISLAMABAD: The government has directed all federal ministries and institutions and the governments of four provinces, Azad Kashmir and Gilgit-Baltistan to submit by Sept 1 the declarations of assets held and acquired by their employees during the fiscal year ending June 30, 2019. In separate office memorandums, the government has also notified 15 per cent ad hoc relief allowance (ARA) ... Read More »

Accountability Court approves judicial remand of Zardari till August 19

ISLAMABAD: An accountability court on Friday sent PPP co-chairman Asif Ali Zardari to Rawalpindi’s Adiala Jail on judicial remand till August 19 in the fake bank accounts case. Zardari was presented before accountability judge Mohammad Bashir who sent the former president to jail after NAB prosecutor Muzaffar Abbasi argued that there had been a new development in the case and ... Read More »

Chaudhry Sugar Mills case: NAB summons Shehbaz on August 23

LAHORE: The National Accountability Bureau (NAB) on Friday summoned Leader of the Opposition in National Assembly Shehbaz Sharif on August 23 owing to significant progress in the Chaudhry Sugar Mills and Lahore Waste Management Company (LWMC) scandal. Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz has already been arrested in the Chaudhry Sugar Mills reference whereas its shareholder Shehbaz Sharif ... Read More »

US cuts Pakistan’s aid by $440m

ISLAMABAD: The United States has further cut Pakistan’s aid by $440 million, bringing down its commitments under Kerry Lugar Berman Act to just $4.1 billion, which is slightly over half of the total amount that Washington had promised to give nine years ago. The decision to cut Pakistan’s economic assistance, being disbursed under the Kerry Lugar legislation of 2009, was ... Read More »

World Bank declares $66m project as ‘moderately satisfactory’

ISLAMABAD: World Bank has declared the outcome of $66-million Sindh Global Partnership for Education (SGPE) project as moderately satisfactory a notch below the rating that the Washington-based lender assigned in self-evaluation. The Independent Evaluation Group (IEG) has also lowered the World Bank’s performance rating to moderately satisfactory, which the self-evaluation had rated as satisfactory. The Implementation Completion Review (ICR) had ... Read More »

Govt to explore new markets for local honey exports: Razak Dawood

ISLAMABAD: Adviser to Prime Minister on Commerce, Textile, Industries and Production and Investment, Abdul Razak Dawood said the government had evolved comprehensive strategy for exploring new markets for export of local honey. The adviser underlined that the current government was focusing on the diversification of export products through policy intervention by providing technical and financial support to the honey exporters ... Read More »

PMERA prohibits Indian produced TV ads in solidarity with Kashmir

LAHORE: Pakistan Electronic Media Regulatory Authority (PEMRA) has banned all TV commercials produced in India or commercials that contain Indian talent and characters. According to the notice issued on Pakistan’s 73rd Independence Day, PEMRA has reiterated its withdrawal of the permission to air all Indian channels and content on the directions of the Supreme Court of Pakistan dated October 27, ... Read More »

Axle load regime to require $15b investment: Report

KARACHI: The country will need to invest around $15 billion in a short period for inducting an additional 0.2 million trucks to fill the gap being created by implementation of axle load regime. A number of trade and industry bodies have asked the government to stop arbitrary implementation of axle load regime which could turn out to be disastrous as ... Read More »

LNG case: Shahid Khaqan Abbasi’s physical remand extended till August 29

ISLAMABAD: An accountability court on Thursday extended the physical remand of former prime minister leader Shahid Khaqan Abbasi till August 29 in an ongoing probe into the liquefied natural gas (LNG) case. The PML-N leader was presented before the court today, following the expiration of his remand. During today’s hearing, Judge Mohammad Bashir asked the National Accountability Bureau (NAB) prosecutor ... Read More »

Pakistan suspends Lahore-Delhi bus service

ISLAMABAD: Federal Minister for Postal Services and Communications Murad Saeed announced that Lahore-Delhi bus service had been suspended in the wake of recent steps taken by the Indian government in occupied Kashmir. In his tweet on Friday, the minister said in line with the decisions of National Security Committee (NSC), the federal government has suspended Dosti (friendship) bus service between ... Read More »

Minimum gas charges enhanced by 39pc

ISLAMABAD: After increasing gas tariff by up to 200 per cent, the government hiked minimum gas charges by 39pc for almost all consumer categories, except 9pc increase for commercial and no change for domestic consumers. The decision was notified by the Oil and Gas Regu­latory Authority (Ogra) on the advice of the Ministry of Energy — Petroleum Division. Minimum gas ... Read More »

Pakistan cuts trade ties with India

ISLAMABAD: Pakistan completely cut trade ties with India as the ministry of commerce issued notification for banning import and exports with the neighboring country. The ministry of commerce on Friday issued SRO 927(I)/2019 and SRO 928(I)/2019 to impose ban on trade with India. Through SRO 927 (I)/2019, the ministry of commerce amended Import Policy Order, 2016 and included India in ... Read More »

Assassination attempt on NAB deputy prosecutor registered

ISLAMABAD: An assassination attempt has been filed when shots of fire were reported outside the house of NAB Deputy Prosecutor Sardar Muzaffar Abbasi in Islamabad Sector I-8. Deputy Prosecutor NAB Sardar Muzaffar Abbasi made a written request to the police for the registration case which included murder and other provisions. His request states that he has no enmity with anyone ... Read More »

Govt forms authority to expedite CPEC projects

ISLAMABAD: The National Development Council (NDC), during a high-level meeting chaired by Prime Minister Imran Khan, has made important decisions with regard to the ongoing development projects, a private media outlet reported on Friday. The meeting was attended by Foreign Minister Shah Mehmood Qureshi, Chief of Army Staff (COAS) General Qamar Javed Bajwa, chief ministers of Balochistan and Khyber Pakhtunkhwa ... Read More »

Traders postpone strike call after talks with FBR chief

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday held out assurances to traders that no action will be taken against them merely on the basis of information emanating from submitting their CNICs until Sept 30. The traders had announced a shutter down strike after the FBR mandated submission of CNICs during the sale and purchase of goods. Talking to ... Read More »

Plastic exports increase by 34pc during FY2018-19

ISLAMABAD: The exports of plastic material from the country witnessed an increase of 33.90 percent during the financial year 2018-19 as against the exports of the corresponding period of last year. The plastic exports from the country were recorded at $ 318.699 million during July-June (2018-19) against the export of $238.010 million during July-June (2017-18), showing growth of 33.90 percent ... Read More »

Techaccess Pakistan receives Oracle Advanced Customer Services ASEAN Best Partner Award

ISLAMABAD: TechAccess Pakistan (TAP), a regional system integrator and a secure cloud enabler, received the Advanced Customer Services (ACS)ASEAN Best Partner Award by Oracle for the year 2019, during a ceremony held in Marriott Hotel, Islamabad. The ceremony was attended by the regional and local teams of Oracle, including Mr. Freddy Tan and Mr. Alvin Chia from Oracle ACS Singapore, ... Read More »

Govt extends export package for another three years to facilitate non-traditional items

ISLAMABAD: The National Assembly was informed on Thursday that government has extended the export enhancement package for another three years with the same previous conditions to encourage non-traditional exports of the country. Parliamentary Secretary for Textile Aliya Hamza Malik told the House that under this package new export sectors such as transport equipment, auto parts and accessories, machinery, furniture, stationary, ... Read More »

Italy to provide 20.5m euro for economic uplift in GB

ISLAMABAD: Federal Minister for Economic Affairs Muhammad Hammad Azhar witnessed the signing ceremony of Financial Agreement with the Government of the Italian Republic.  Noor Ahmed, Secretary Economic Affairs Division and Stefano Pontecorvo, Ambassador of Italy in Pakistan, signed the agreement for Economic Transformation Initiatives, Gilgit-Baltistan amounting to 20.5 million euro. This is 28 years facility with 10 years of grace ... Read More »