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Tag Archives: PML-N

Rs700 to 1,000b embezzled in 8-yrs: Economic corridor to flourish Balochistan: President

QUETTA: President Mamnoon Hussain said that Pak-China Economic Corridor was a monument of this century, which would open doors of progress and prosperity, especially for Balochistan. He was speaking to stakeholders including parliamentarians, political and tribal elders, professors, doctors, lawyers and civil society representatives at Governor House. He said that Pak-China Economic Corridor would start from Kashghar, China and reach ... Read More »

Rs 50b project: Metro bus to ply on Islamabad roads by Jan 30

RAWALPINDI: The PML-N government is likely to inaugurate the metro bus service by January 25-30, authorities said. At the start of the project, the government increased the cost by Rs6.17 billion to Rs44.21 billion, which will be spent on Peshawar Mor Interchange. However, the pace of work by the National Logistic Cell (NLC) on the Peshawar Mor interchange and 9th ... Read More »

Missing macroeconomic targets: GDP to remain 3.5-4%, fiscal deficit to rise 5.5-6%, agri sector to grow 2%

ISLAMABAD: The PML-N-led federal government once again would not be able to achieve main macroeconomic targets, including GDP, budget deficit and rate of investment, set for the current fiscal year 2014-15. This was discussed in an event arranged by Institute for Policy Reforms (IPR) to review the country’s economic performance for the first quarter (July-September) financial year 2014-15 as well ... Read More »

Sale of oil giant OGDCL 10% shares scrapped

ISLAMABAD: The government scrapped Oil and Gas Development Company’s (OGDCL) transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. The government had pitched 311 million shares at a minimum price of Rs216 per share, but received offers for 162 million shares, or ... Read More »

Govt tactfully cuts Rs1.50 per unit subsidy on electricity to appease IMF

ISLAMABAD: The government in a bid to meet IMF demands has tactfully cut Rs1.50 per unit subsidy on electricity, it has been learnt. According to the authorities of Ministry of Water and Power, in order to cut the subsidy an Electricity Equalization Surcharge of Rs1.50 per unit has been imposed. With this development, the electricity consumers with the exception of ... Read More »

FBR likely to carry on tax-exempt status of FWO

FBR thinks FWO is not entitled to income tax exemption, but PML-N government is pressing board to keep FWO out of taxes     ISLAMABAD: Toeing the government’s line, the Federal Board of Revenue (FBR) is expected to carry on the tax-exempt status of the Frontier Works Organisation (FWO). “In the prevailing political scenario, the government is desirous of the ... Read More »

Imran doesn’t pay property tax of Zaman Park residence

LAHORE: Pakistan Tehreek-e-Insaf Chairman Imran Khan has not paid the property tax on his Zaman Park residence. Commencing his civil disobedience movement against the Nawaz-led government around two months ago, Imran had refused to pay his electricity bills and other taxes. To record his protest against inflated electricity bills, the PTI supremo had burnt his electricity bills at the Islamabad sit-in ... Read More »

Huge investment potential lies in Pakistan: Nawaz  

ISLAMABAD: Prime Minister Nawaz Sharif has urged the protesting parties to shun the course of anarchy and practice mature politics to fight the multiple issues faced by the country. Talking to the media persons here on Monday after attending the International Investment Conference, he said those trying to impede the process of development should reconsider their modus operandi. It appears ... Read More »

Thar Coal Project: Chinese banks reluctance to accept sovereign guarantees worries Pakistan

 ISLAMABAD: Chinese banks are showing reluctance to finance Thar Coal Project on sovereign guarantees of the Pakistani government. Sindh Engro Coal Mining Company (SECMC) Chief Executive Officer (CEO) Shamsuddin Ahmed Shaikh during a press briefing to a group of journalists regarding Thar coal power project, said: “Chinese banks want Engro and SinoSure (China Export & Credit Insurance Corporation) to share 50 ... Read More »

ICCI flays PML-N govt for 43 paisas raise in power tariff

ICCI President Muzamil Hussain Sabri presses government to withdraw all unfair charges to provide relief to people and to bring down cost of doing business     ISLAMABAD: Businessmen in a meeting at the Islamabad Chamber of Commerce and Industry (ICCI) on Monday condemned the Pakistan Muslim league-Nawaz (PML-N) government for 43 paisas per unit increase in electricity tariff from ... Read More »

Midday: KSE gives up early gains

KARACHI: The Karachi Stock Exchange (KSE) 100-index witnessed low trading and gain just 5.59 points to reach 29988.04 points with total volume of 49,437,800 shares till midday on Friday, the last day of trading. Earlier, benchmark KSE 100-index took a good start and once again crossed the psychological barrier of 30,000, gaining 155.89 points to reach 30138.34 with volume of ... Read More »

Opening: KSE bounces back, crosses 30,000 level

KARACHI: The Karachi Stock Exchange (KSE) 100-index took a good start and once again crossed the psychological barrier of 30,000, gaining 155.89 points to reach 30138.34 with volume of 831,561,540 shares till 9:45am on Friday, the last day of trading. Yesterday, benchmark KSE-100 index lost 138.54 points on closing to reach 29982.45 points and volume of 80,322,100 shares. Earlier, the ... Read More »

Midday: KSE keeps upward rally, gains 103 points

KARACHI: Started with positive note, the Karachi Stock Exchange (KSE) 100-index kept upward rally and crossed psychological barrier of 30000, by gaining 102.81 points to reach 30081.75 points on Friday, the last day of trading. On Thursday, the country’s biggest stock market lost 124.29 points to reach 29978.94 points and volume of 52,510,770 shares. Experts say that market has to ... Read More »

Opening: KSE gains 12 points

KARACHI: Trading at the Karachi Stock Exchange (KSE) 100-index started with positive trend and gained 12.38 points to reach 29991.32 points and volume of 11,141,200 shares on Friday, the last day of trading. On Thursday, the country’s biggest stock market lost 124.29 points to reach 29978.94 points and volume of 52,510,770 shares. Experts say that market has to survive the ... Read More »

KSE nose-dives by 666 points on political uncertainty  

KARACHI: Karachi Stock Exchange lost its upward momentum on the first business day after Eid holidays and plummeted 666 points, highest blow in 9 months, as political uncertainty spread its tentacles across Pakistan. Panic gripped the market as KSE 100-share index dropped 666.24 points or 2.20 percent to close the day at 29647.83 points below the psychological barrier of 30,000. ... Read More »

Parleys for $200b stashed in Swiss banks in the offing

ISLAMABAD: Finance Minister Ishaq Dar said talks to bring back $200 billion “what he said” belonging to Pakistan and stashed in banks in Switzerland will begin in the current month. In a statement issued here, the federal minister pointed out that the talks would be held in several phases and it could take three to four years to bring the ... Read More »

Privatization and Transparency

ISLAMABAD: After pause of seven years, Pakistan has entered into domestic as well as international capital market to offload its remaining shares in United Bank Limited (UBL) that fetched $387 million for the national kitty. The PPP led regime had made efforts in its five year rule to launch Global Depository Receipts as well as move ahead with other privatization ... Read More »

PAC acts as watchdog to check corruption: Mian Abdul Mannan

ISLAMABAD: The all-powerful Public Accounts Committee of the National Assembly acts as a watchdog to keep an eye on government accounts and ensure transparent utilisation of each and every penny of the public exchequer. The PAC monitors corruption and anomalies in the affairs of different ministries and seeks explanation from the quarters concerned whenever and wherever detects any irregularity. Public ... Read More »