Record growth of housing and finance construction in 2021 By: Web Desk on January 6, 2022KARACHI: Housing and construction finance recorded “exceptional” growth of 85 percent in 2021, according to the State Bank of Pakistan (SBP). The central bank said that bank financing for dwellings and construction climbed by Rs163 billion to Rs355 billion from Rs192 billion, and that loan disbursement under the Government Markup Subsidy plan, popularly known as […]
In Saudi Arabia, PIA hires 11 companies for quarantine services By: Web Desk on January 6, 2022KARACHI: Pakistan International Airlines (PIA) has planned to contract 11 businesses for quarantine facilities in order to provide better services to passengers going to Saudi Arabia. According to insiders familiar with the situation, the decision was made to provide greater amenities to visitors upon their arrival in Saudi Arabia. In this regard, the PIA has […]
Urea sale increases 11% in 2021: CEO Engro Fertilizer By: Web Desk on January 5, 2022A pro-farmer initiative by the PTI government to ensure a smooth supply of Urea fertilizer across the country has resulted in an increase of the urea fertilizer sale by 11 percent in 2021 as compared to the last year, said Chief Executive Officer (CEO), Engro Fertilizer, Nadir Salar Qureshi. According to the official sources, during […]
As part of ‘Sony Mobility’ project, Sony will show off SUV and explore building electric cars By: Web Desk on January 5, 2022The Sony Group aims to establish a firm this spring to investigate entering the electric vehicle market, leveraging its strengths in entertainment and sensors to play a larger role in next-generation mobility. Sony chairman and president Kenichiro Yoshida said at a press conference ahead of the CES technology trade show in Las Vegas that the […]
IMF holds off on releasing new forecast to the factor in Covid-19 impact By: Web Desk on January 5, 2022A representative for the International Monetary Fund said on Tuesday that the World Economic Outlook will be released on Jan. 25, a week later than anticipated, to take into account the latest COVID-19 developments, amid concerns that another downgrade is on the way. “On January 25, the World Economic Outlook update will be released to […]
In the name of Ehsaas program, FIA busts gang for defrauding people By: Web Desk on December 30, 2021KARACHI: In the Sindh province’s Naushahro Feroze district, the Federal Investigation Agency (FIA) caught a gang allegedly involved in scamming individuals under the Ehsaas programme. After a recipient of the Ehsaas scheme pointed out the scam, the FIA said that it had detained three people for their roles in it. Fake SIMs, fingerprints, and mobile […]
SHC requests response from govt in regard to suspension of gas to non-export sector By: Web Desk on December 30, 2021KARACHI: The Sindh High Court (SHC) on Thursday granted the federal government one more chance to submit its response in a matter involving the suspension of gas supplies to non-export sectors. The matter of the Sui Southern Gas Company suspending gas supply to non-export producing enterprises in Sindh was heard by the SHC bench (SSGC). […]
After five years, PIA resumes direct flights to Iran By: Web Desk on December 30, 2021KARACHI: Pakistan International Airlines (PIA) resumed direct flights to Iran on Thursday after a five-year hiatus in order to strengthen people-to-people ties and boost the tourism industry. According to reports, PIA has resumed flight operations to Iran after a five-year hiatus, with the first PIA flight PK-119 departing for Mashhad, Iran, with 165 passengers on […]
NEPRA likely to increase electricity tariff by Rs4.33 per unit By: Web Desk on December 29, 2021ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has concluded its hearing on the Central Power Purchasing Agency’s (CPPA) request for a Rs4.33 per unit increase in energy pricing. The price of per unit electricity would be increased by Rs4.33 per unit if the features provided by the CPPA were correct, while the power tariff […]
A $195m loan for Pakistan approved by the World Bank By: Web Desk on December 23, 2021ISLAMABAD: The World Bank’s Board of Executive Directors has approved $195 million in funding to help Pakistan improve its energy distribution and improve consumer service quality. Pakistan and the World Bank signed a financing deal in Islamabad, according to the economic affairs division. Secretary economic affairs division Mian Asad Hayauddin and WB’s Operation Manager Anjum […]