WB agrees to help Punjab in institutional reforms

LAHORE - World Bank mission led by Vincent Palmade met Chief Minister Muhammad Shahbaz Sharif here on Thursday and agreed to cooperate with the Punjab government in taking speedy measures for institutional reforms, urban development, agri business, skills development, information technology, ...

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  • Pakistan received $1.5 billion foreign economic assistance during ...

    , By Imran Ali Kundi

    ISLAMABAD - Pakistan had received $1.5 billion as foreign economic assistance during four months (July-October) of the current financial year 2014-15.Pakistan had received $730 million in the last month as foreign economic assistance mainly thanks to the Islamic Development Bank that disbursed $507 ...

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  • Qaim assures help to provide subsidised gas to TSML

    , By Our Staff Reporter

    Karachi - Sindh Chief Minister Syed Qaim Ali Shah has agreed with Ambassador of the Republic of South Korea Song Jong-hwan to take up the matter of providing gas at the concessionary rate to Pakistan’s largest steel complex in private sector Tuwairqi Steel Mills being operated under the joint ...

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  • Selling in oil sector drags KSE down by 184.37 points

    , By Our Staff Reporter

    Karachi - Political uncertainty ahead of PTI’s sit-in in the federal capital brought fear in local bourse on Thursday, said Fran Rizvi, Manager Equity Sales at JS Securities. At local equity market, benchmark KSE 100-share index shed 184.37 points or 0.59 per cent to end the day at 31270.10 ...

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  • Rupee continues recovery

    Karachi -  Dollar further depreciated against rupee in cash free market while take strength in inter bank on Thursday. According to the data provided by the Forex Association of Pakistan, dollar traded at lowest rate of Rs 101.80 and highest rate of Rs 101.90 in inter bank while it was traded ...

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  • APAT traders convention today

    , By Our Staff Reporter

    Lahore - The All Pakistan Anjuman-e-Tajiran is holding a traders convention on Friday (today) in Lahore at Alhamra which will be attended by trade bodies’ representatives of district and tehsil level from across Pakistan. APTA general secretary Naeem Mir said that invitations have also been ...

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  • Dar in Moscow

    , By INP

    MOSCOW - Finance Minister Senator Ishaq Dar has arrived in Moscow on Thursday after successful launching of Sukuk in London. Besides other engagements he will attend the Pak-Russia Inter Governmental Commission meeting in Moscow.      

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  • Newsbrief

    Punjab governor to inaugurate Foundry Congress on Dec 2LAHORE (PR): Governor Punjab Ch Muhammad Sarwar will inaugurate 2 days 5th International Foundry Congress and Exhibition (IFCE), organized by Pakistan Foundry Association, on 2nd December at a local hotel. This was stated by Asam Qaderi, ...

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  • SBP’s reserves increase by $12 million

    , By Our Staff Reporter

    KARACHI - SBP’s liquid FX reserves, during the week ending November 21, 2014, increased by $12m to $8,506m as compared to $8,494m in the previous week. The total liquid foreign reserves held by the country stood at $13,219.9m on November 21, a press release of State Bank of Pakistan (SBP) ...

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  • Country exports 80pc textile products sans value-addition

    , By Salman Abudhoo

    LAHORE  - Federal Minister for Textile and Industries Abbas Khan Afridi has said that that country is exporting around 80 per cent of textile products in raw shape without making any value addition, which neither payback good prices to Pakistan, nor create employment opportunities at local ...

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  • WWF-Pak Green Skills Project

    , By Our Staff Reporter

    Lahore - WWF-Pakistan through its Green Skills Project held a ceremony to distribute farmer toolkits and veterinary toolkits among less privileged farming families. The ceremony was held at Government Elementary College, Kot Addu, Muzaffargarh where 600 toolkits were distributed among people. Ahmad ...

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  • Strong banking sector a must for economic growth

    , By Our Staff Reporter

    Lahore - Strong banking sector is a must for the Business and economic growth. Pakistan can become a regional hub for Islamic Banking if proper regulatory reforms are introduced. These were the views expressed by the speakers at the seminar held on ‘Banking for Business and Economic ...

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  • K-E BoD ratifies various accords for adding 850MW

    KARACHI : K-Electric’s Board of Directors has ratified various accords to enhance its capacity of electricity supply by about 850MW which would help meet the rising demand of energy in Karachi, parts of Balochistan and interior Sindh. These arrangements are in collaboration with both local ...

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  • Scientists discover novel, extraordinary enzyme for food industry

    Lahore - Since the last three decades, scientists around the globe were in search of efficient enzymes that could simplify the process of starch hydrolysis for glucose and maltose production. Scientists from Institute of Agricultural Sciences including Dr Nasir Ahmad, Dr Muhammad Saleem Haider and ...

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  • corporate corner

    Pak preferred destination for finance, accounting  servicesLAHORE (PR): Pakistan is fast becoming a preferred destination for Finance and Accounting related shared services, a business segment worth $35 billion globally. In a newly announced move, Azure Global, the ranking financial ...

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  • OPEC heading for no output cut despite oil price plunge

    , By Reuters

    OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June. "The GCC reached a consensus," Saudi Arabian Oil MinisterAli al-Naimi told reporters, referring to the Gulf Cooperation Council ...

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  • Lesco workers to get one month ex-gratia payment

    , By Our Staff Reporter

    LAHORE - The workers of Lahore Electric Supply Company (LESCO) would get one month ex-gratia payment alike other Elecy. Companies. Every effort would be made to conditions and prevent the accident of the field workers while working on elecy, work. Dependents would be paid Rs. 2.5 million Ex-Gratia ...

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  • Energy crisis: Punjab industry uncompetitive within country

    , By Our Staff Reporter

    Lahore - Expressing serious concern over continued declined in textile exports owing to deteriorated power crisis, the Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea) has sought the level playing field for value-added textile industry of Punjab, as industries in other ...

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  • Moot on energy challenges

    , By Our Staff Reporter

    ISLAMABAD- The 20th Annual Technical Conference (ATC) 2014 jointly organised by Pakistan Association of Petroleum Geoscientists (PAPG) and Society of Petroleum Engineer (SPE) Pakistan “Energy Challenges of Pakistan and E&P Strategies” was  inaugurated by Muhammad Rafi MD/CEO ...

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  • TSML stakeholders threaten to divest $340m investment

    , By Our Staff Reporter

    Karachi - Shareholders of Tuwairqi Steel Mills Limited (TSML) hold Extra Ordinary General Meeting (EOGM) to decide about the future of their $340 million investment in PakistanThe EOGM was called by the shareholders to decide about the future of TSML, as the Government has not yet been able to ...

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  • corporate corner

    Zameen.com’s celebrates 1m monthly trafficLAHORE (PR): Zameen.com, recently celebrated 1 million monthly traffic. November has been a record month in terms of traffic for the property portal as it continues to see higher and higher numbers of visitors.Over the past 12 months, Zameen.com has ...

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  • Iran would not terminate gas deal with Pakistan: Minister

    , By INP

    TEHRAN - Iran’s oil minister has rejected speculations that Iran would withdraw from gas deal with Pakistan.Bijan Namdar Zanganeh told reporters that Iran was prepared to start its gas exports to Pakistan. “Pakistan has signed a deal to import 21.5 million cubic meters of natural gas ...

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  • $1b Sukuk bonds issued at 6.75pc

    , By Imran Ali Kundi

    ISLAMABAD-Pakistan on Wednesday successfully returned to the international Sukuk market by issuing the Sukuk bonds worth of $1 billion that would increase the country’s foreign exchange reserves. “Pakistan successfully returned to the international Sukuk market, with the issuance of US ...

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  • Senate body for 20 per cent cut in POL prices

    , By Imran Ali Kundi

    ISLAMABAD-Following the downward trend in petroleum products prices in international market, the Senate Standing Committee on Finance and Revenue on Wednesday asked the Competition Commission of Pakistan (CCP) to issue a policy note to Oil and Gas Regulatory Authority (OGRA) for 20 per cent ...

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