An overwhelming number of investors have shown their interest in the establishment of LNG terminals/ virtual pipelines at Karachi and Gwadar Ports, and applications for at least seven LNG licenses are in various stages of considerations.According to of…
Here’s How International Lenders Are Making Billions from Pakistan
International banks like the China Exim Bank and the International Islamic Trade Finance Corporation (ITFC) are charging up to 6.5 percent interest per annum on lending to Pakistan while loans from Italy and China Development Bank are interest-free.Acc…
Rice Exporters Body Voices Concerns over Proposed Finance (Supplementary) Bill 2021
Rice Export Association of Pakistan (REAP) has expressed concern regarding the withdrawal of the zero-rating status of various export-oriented sectors in the Finance (Supplementary) Bill 2021, reported Business Recorder.REAP termed the bill as a “devas…
Secretary Water & Power Sees Entire Electricity System ‘Hijacked’ by Few Companies
Three to four companies have hijacked the entire electricity system, said the Federal Secretary Ministry of Water & Power, Hyder Shah, during a meeting of the National Assembly Standing Committee on Power.The secretary expressed frustra…
Pakistan’s Circular Debt to Decrease by Rs. 350 Billion This Fiscal Year
Federal Secretary Power, Asif Hyder Shah, has said that by the end of the current fiscal year, the circular debt would be reduced by Rs. 350 billion.While talking to ProPakistani, Secretary In-charge Power Division said that the circular debt is now ac…
3-Year Govt Framework for Job Creation & Economic Uplift on the Cards
The government is in the process to finalize a 3-year strategic growth framework to enable all ministries and departments to work together for employment generation and overall economic growth.To review the progress, the Deputy Chairman Planning Commis…
Carrefour Invests Another Rs. 1 Billion in Pakistan
Carrefour, owned and operated by UAE-based Majid Al Futtaim in Pakistan, has added a further Rs. 1 billion to its current investment of Rs. 9.5 billion in the country with the inauguration of a new hypermarket in Gujranwala.The new standalone hypermark…
Reza Baqir Responds to Opposition Parties on Questions Whether He Works for the IMF
Governor State Bank of Pakistan (SBP) Dr. Reza Baqir has responded to the criticism of him by the opposition parties, especially with reference to various conditions set by the International Monetary Fund (IMF) — for the renewal of a $6 billion loan fa…