A.Zee Lahore: Rohail Ikram, Chairman Pak-Uzbek Trade and Culture Centre is appointed as brand ambassador in Pakistan to promote tourism in Uzbekistan tourism, by the ministry of the tourism Republic of Uzbekistan. This appointment was announced by Taimur Mirzav, Advisor and deputy minister of tourism of Uzbekistan. A graceful celebration took place in Lahore at…
Ibn-e-Ameer Cabinet has allowed Economic Affairs Division (EAD) to sign agreements for rescheduling an $821 million loan with Saudi Arabia. This amount also includes $41.43 million interest on these two loans. Pakistan will sign two agreements for rescheduling loans-$878 million and $780.37 million. The government had negotiated and finalized two agreements with Saudi Arabia for…
Pakistan has created a fiscal space of US$4billion as a result of successful negotiations for rescheduling of agreements under the Debt Service Suspension Initiative (DSSI). The government has been trying to reschedule debt after the outbreak of Covid-19 to create fiscal space. Pakistan is currently facing record debt and the burden of repayment of loans….
Pakistan on Thursday extended the Defense Credit Line Facility of USD 50 Million to Sri Lanka to enhance bilateral defense and security cooperation. The Economic coordination committee (ECC) considered and gave principal approval on a summary Ministry of Defence Production presented for extending the Defence Credit Line Facility of USD 50 Million to Sri Lanka…
Textile Exports increased to a record high of US$11bn in 7MFY22 up 25%. As per the data reported by the Pakistan Bureau of Statistics (PBS), Pakistan textile exports have witnessed a record 7MFY22 exports of US$11bn in FY22, up by 25% YoY. In PKR terms, the same has clocked in at Rs1,861bn, up 30% YoY…
News Report The government is set to change the gas pricing formula for fertilizer plants in the new proposed Fertilizer Policy. It started deliberations on salient features of the new policy on Thursday. The government has formed a group that would discuss gas pricing in the new fertilizer policy to remove disparity in pricing. Federal…
News Report The economic Coordination Committee (ECC) has approved the RNGL sale price for PLL’s supply to K-Electric (KE). PLL will supply LNG to K-Electric (KE) at a price of LNG notified by Ogra. The ECC also approved the Ministry of Energy, Petroleum Division’s summary on the determination of RLNG sale price for PLL’s supply…
Aftab Ahmed Islamabad: Pakistan’s banking regulator—SBP—has cumulatively fined Rs 58 million for violating regulatory instructions pertaining to general banking operations, said an official order of the SBP on Tuesday. The top regulator on banking through its enforcement actions has penalized the top five banks in Pakistan that included Bank Alhabib Limited, The Bank of Punjab,…
News Report KSE 100 index largely remained in the positive session during the trading session on Friday to settle at 45,910 level up by 0.10%. The Karachi stock exchange also observed some profit-taking in the second half of the trading session as the index settled at a 45,910 level (up by 0.10%). A major contribution…
Ibn-e-Ameer The government has formed a high-level committee to work out a feasible plan for a new rail link from the PIBT terminal to the Pakistan Railways network. The proposal is under consideration that Port Qasim Authority (PQA) will provide sufficient land adjacent to the PIBT Terminal for the development of railways yard for direct…