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 […]
All you need to know about the New Auto Policy 2021-26 By: Web Desk on December 23, 2021ISLAMABAD: The federal government has developed the Auto Industry Development and Export Policy (AIDEP) 2021-2026 with the goal of improving car quality, adding safety features, and making small cars more affordable to Pakistani buyers. The government has proposed a tax exemption for locally produced cars with engines up to 800cc, according to a document issued […]
Cars’ sale surges 61pc in five months By: Web Desk on December 22, 2021The sale of cars during five months of the current fiscal year 2021-22 (Jul-Nov) has surged by 61.89 percent as compared to the same period of last year, a recent data released by the Pakistan Automobile Manufacturing Association (PAMA) said. According to the data, as many as 90,303 cars were sold during the period under […]
Pakistan and ADB sign financing agreements for $1.54b By: Web Desk on December 22, 2021ISLAMABAD: Pakistan inked six agreements with the Asian Development Bank (ADB) on Wednesday to secure $1.54 billion in financing. The agreements were signed in the presence of Minister for Economic Affairs Omar Ayub Khan by the secretary of the Economic Affairs Division and the country director of the ADB. Under the agreements, $300 million would […]
Pakistan and ADB sign financing agreements for $1.54b By: Web Desk on December 22, 2021 ISLAMABAD: Pakistan inked six agreements with the Asian Development Bank (ADB) on Wednesday to secure $1.54 billion in financing. The agreements were signed in the presence of Minister for Economic Affairs Omar Ayub Khan by the secretary of the Economic Affairs Division and the country director of the ADB. Under the agreements, $300 million […]
Fawad Chaudhary: Pakistan paid $12.27 billion in foreign debt in FY2021-22 By: Web Desk on December 21, 2021ISLAMABAD: Fawad Chaudhry, the Minister of Information and Broadcasting, stated on Tuesday that the existing administration has paid off $12.27 billion in foreign debt this year alone. Fawad added that Pakistan had paid $12.27 billion in foreign debt payments alone in the current fiscal year 2021-22, according to his Twitter account. Fawad Chaudhry further said […]
UAE firm will invest $15 million in Faisalabad SEZ: Razak Dawood By: Web Desk on December 16, 2021ISLAMABAD: Abdul Razak Dawood, Pakistan’s Adviser on Commerce and Investment, announced that a UAE firm will spend $15 million in a special economic zone (SEZ) in Faisalabad. Abdul Razak Dawood said on Twitter that Brothers Gas of the United Arab Emirates (UAE) has announced a $15 million investment in the Faisalabad Special Economic Zone. He […]
In Pakistan, a foreign airline begins flight operations By: Web Desk on December 15, 2021KARACHI: Cham Wings Airlines, a Damascus-based airline, has started flying in Pakistan, with its maiden aircraft landing at Karachi’s Jinnah International Airport today. In Pakistan, Cham Wings Airlines has officially begun operations. Cham Wings Airlines’ inaugural flight from Damascus will arrive at Karachi airport at 2:15 pm today. More than 150 passengers will arrive in […]
New monetary policy to be announced by SBP today By: Web Desk on December 14, 2021KARACHI: On Tuesday, the State Bank of Pakistan (SBP) will announce its new monetary policy (today). The central bank’s Monetary Policy Committee (MPC) will convene today to discuss economic indicators and make a decision on key policy rates. The SBP is set to raise its policy rate by 125 basis points to handle inflation and […]
From December 16, the government may lower the price of petrol by Rs11 per litre, according to reports By: Web Desk on December 14, 2021From December 16, the government may lower the price of petrol by Rs11 a litre, according to reports. According to industry insiders, the price of diesel is projected to drop by Rs9 per litre, and the government will finalise petroleum product prices after either hiking or lowering tax rates. The price of crude oil has […]