SECP losing strength to tackle racketeering on December 3, 2017ISLAMABAD: Pakistan’s corporate watchdog is to lose strength in terms of commissioners as three out of five are completing their terms later this month, raising apprehensions of racketeering brokers skipping regulatory controls. Securities and Exchange Commission of Pakistan (SECP) has been going through tough times with regards to asserting as the top corporate regulator since […]
Dar appoints ‘cronies’ in SECP before going on leave on November 24, 2017ISLAMABAD: Just before officially taking leave of absence as finance minister, Senator Ishaq Dar appointed two of his cronies on Policy Board of the Securities and Exchange Commission of Pakistan (SECP) in violation of the relevant code of conduct. According to sources in the Finance Ministry, just days before Dar was to proceed on leave, […]
Ruling PML-N remains at odds over finance minister’s status on November 23, 2017ISLAMABAD: Handling the economy remained an unsettled issue between troubled ruling party’s autocrat head Nawaz Sharif and Prime Minister Shahid Khaqan Abbasi, as the former was not willing to relieve Ishaq Dar as finance minister in any case, Daily Times learnt on Wednesday. According to well-placed sources, PM Abbasi was caught between a rock and […]
China banks on regional support amid ‘Indian threats’ to CPEC on November 22, 2017ISLAMABAD: China and Pakistan on Tuesday signed a long-term plan at the 7th round of the Joint Cooperation Committee (JCC) of the China Pakistan Economic Corridor (CPEC). Planning and Interior Minister Ahsan Iqbal, who headed the Pakistani delegation to the JCC, said that the committee had also approved the mega project of Karachi Circular Railway. […]
China-Pakistan JCC set to approve $27 billion for 22 projects today on November 21, 2017ISLAMABAD: Ministerial Joint Cooperation Committee (JCC) on China-Pakistan Economic Corridor (CPEC) will meet today (Tuesday) to approve an aggregate amount of $27 billion for 22 mega projects, including special economic zones and Gwadar International Airport. A senior official privy to marathon sessions of secretary-level meetings and convening of five joint working groups at the Planning […]
‘Political uncertainty not impacting CPEC projects’ on November 12, 2017ISLAMABAD: The troubled internal politics of Pakistan has, so far, not impacted the China- Pakistan Economic Corridor (CPEC) projects and the projects were progressing within the given timeframe, a well-placed source said. “And they (the Chinese) would not let any political change in Pakistan to impact the CPEC,” the source added. “On CPEC, the Chinese […]
Senators term regulatory duty ‘unconstitutional’ on November 10, 2017ISLAMABAD: The Senate’s Standing Committee on Finance on Thursday came down hard upon the government for its imposition of massive regulatory duty on over 731 import items and for not providing details on Eurobonds and Panama leaks. The committee also recommended issuing a warning to the heads of the private banks over non-provision of the […]
Circular debt swells to over Rs 400 billion on November 9, 2017ISLAMABAD: Mostly state-owned energy sector of Pakistan is fast slipping into hot waters, as notorious circular debt has starting ballooning again beyond Rs 400 billion mark, an official told this scribe on Wednesday. According to the official who requested anonymity, the government faced with political upheavals resulting in reshuffling of portfolios, including that of the […]
SECP yet to finalise answers to objections on Multan Metro project on November 6, 2017ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is in a fix over how to answer questions raised by Senate’s Standing Committee on Finance regarding alleged corruption in the Multan Metro Bus project. Last week, the Senate body, through a letter dated October 27, had given seven days to SECP to answer 10 questions […]
Schism in PML-N taking its toll on economy: officials on October 30, 2017ISLAMABAD: Contrary to Finance Minister Ishaq Dar’s claim that there was not need to seek a bailout package from the International Monetary Fund (IMF), senior officials of the ministry Sunday said they had been asked to prepare a representation for the fund. According to officials, who requested anonymity, they were informed during the recent annual […]