The arithmetic of ongoing political turmoil on May 22, 2021When a reporter asked Pakistan Tehreek-i-Insaf (PTI) leader Jahangir Tareen about his intention of creating a forward bloc in the party on Wednesday, the estranged leader paused for a while and then responded in a very calculated manner that he was neither going to form a forward bloc nor had he formed a forward bloc. […]
Cement sector posts profit of Rs12.5 billion in 3QFY21 on May 21, 2021The country’s cement sector posted a stellar increase in profits of 100pc QoQ as profit after tax stood at Rs12.5bn for 3QFY21 against Loss after tax (LAT) of Rs1.8bn for 3QFY20 while gross margins stood at 30pc against 4pc and 25pc for 3QFY20 and 2QFY21 respectively. The increase in profitability was supported by an exuberant […]
Federal cabinet approves 1st installment of payment for IPPs on May 19, 2021 After a delay of three months since the payments to the Independent power producers (IPPs) became due as per August 2020 MoUs, the federal cabinet on Wednesday finally accorded approval to the clearance of first installment to the IPPs. The government is due to clear these receivables till June 7, 2021. The 40 […]
Pakistan Business Council proposes govt to devise pro-growth economic policy on May 12, 2021The Pakistan Business Council (PBC)- an alliance of about 82 of the largest Pakistani business houses claiming about 18 per cent share in the country’s revenue and GDP — has recommended the federal government and the Economic Advisory Council (EAC) to devise equitable, predictable, pro-growth and pro-formalisation fiscal policy. According to the PBC, the Pakistan’s […]
LHC’s order a slap on Imran’s, Shehzad Akbar’s fake accountability narrative: PML-N on May 8, 2021LAHORE: Pakistan Muslim League-Nawaz (PML-N) spokesperson Marriyum Aurangzeb on Saturday challenged Prime Minister Imran Khan, Adviser to Prime Minister on Accountability and Interior Shahzad Akbar and all government mouthpieces to hold a press conference and read out the detailed decision of the Lahore High Court (LHC) regarding PML-N President and Leader of the Opposition in […]
Shehbaz Sharif’s ticket out of Pakistan sends shockwaves on May 8, 2021The Lahore High Court (LHC)’s decision on Friday to remove PMLN President Shehbaz Sharif from the blacklist to travel abroad for medical treatment has hit hard across the political divide. “Such a haste is not seen in a panchayat [village council] decisions”, tweeted Federal Information Minister Fawad Chaudhry. He lambasted the move a joke, while […]
Fiscal deficit contained at 3.6pc of GDP in 9MFY21 on May 6, 2021The country’s fiscal deficit has clocked in at 3.6pc of GDP (or Rs1,652billion) in 9MFY21 as compared to 3.8pc of GDP (or Rs1,686billion) in 9MFY20. It translates into a decrease of 2pc YoY during 9MFY21. While the overall deficit remained in check, the government has also managed to record a surplus in primary balance at […]
Fissure in PTI may surface due to Asad Umar’s ‘attitude’ on May 6, 2021The resentment against Asad Umar, who heads the National Command Operation Centre (NCOC), surfaced once again due to his ‘stubborn attitude’ and behaviour of the former finance minister towards his fellow cabinet members, Daily Times has learnt. According to party insiders, the NCOC chief recently snubbed Minister for Energy Hammad Azhar and misbehaved with him. […]
3QFY21: Cement despatches clocks in at 14.7mn tons on May 5, 2021The country’s cement despatches in 3QFY21 clocked in at 14.7 million tons (-3pc Quarter-on-quarter (QoQ), +20 per cent year-over-year (YoY), and it is the second highest quarterly sales in the history of Pakistan. The cement sector also posted record profits of Rs18.4 billion in 3QFY21, up 63pc QoQ during the same quarter last year the […]
Bidding farewell to the Justice Munir doctrine of necessity? on May 1, 2021Lahore High Court (LHC) Chief Justice Muhammad Qasim Khan is known for calling a spade a spade. And his recent comments, whereby he termed the Army the country’s “biggest land grabber” were no exception. Whether this signals more confrontation between the judiciary and the military remains to be seen. That being said, the Chief Justice […]