Business

ISLAMABAD: Noting that the ongoing second phase of the China-Pak­is­tan Economic Corridor (CPEC) would reinforce Pakistan’s efforts towards economic development with an enhanced cooperation in diverse areas, Prime Minister Imran Khan invi­ted Chinese investors to benefit from the lucrative investment opportunities in Pakistan. The PM made these rem­arks during a meeting with Chinese State Coun­cilor and For­eign Minister Wang Yi …

KARACHI: Indus Motor Company (IMC) on Tuesday gave a massive price shock of up to Rs1.257 million, with the new retail prices effective on all new orders booked from March 23. The company attributed the latest hike to sudden devaluation of Pakistani rupee, massive increase in prices of commodities and freight which pushed up the rates of completely-knocked down kits …

ISLAMABAD: The plight of pensioners belonging to Pakistan Railways, the largest state-owned enterprise, continues and it is feared that not all the pensioners will be able to get their already-delayed monthly pension this month since the finance ministry has not released the full amount for payment of pension. Sources privy to the railways ministry told Dawn that the finance ministry had been …

HOUSTON: Oil prices jumped by more than $6 on Monday, with Brent crude climbing above $114 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities. Brent crude futures were up $6.52, or 6pc, at $114.45 a barrel by 1442 GMT, adding to a 1.2pc …

ISLAMABAD: The Jeddah-based Islamic Development Bank (IsDB) on Monday signed framework agreements to extend $180 million loans to Pakistan to finance Mohmand Dam Hydropower Project (MDHP). The financing agreements were signed by Secretary Economic Affairs Mian Asad Hayaud Din and Special Adviser to the President IsDB Mohammad Jamal Al-Satti. The signing ceremony was also witnessed by IsDB President Dr Muhammad …

ISLAMABAD: Amid declining domestic gas production and expensive fuel imports, a new policy for conversion of Coal-to-Gas (LTG) and Coal-to-Liquid (CTL) with lucrative tax holidays and duty exemptions is being finalised to be made part of the upcoming federal budget 2022-23. Informed sources said the draft Policy on Coal-to-Liquid and Coal-to-Gas was prepared by Oracle Power and China National Coal …

KARACHI: The cost of fuel for electricity generation in February went down 27 per cent to Rs8.94 per unit on a month-on-month basis, according to data recently released by the National Electric Power Regulatory Authority. The sharp month-on-month decline in the fuel cost was partly because hydel-based generation surged 2.9 times in February, according to Arif Habib Ltd. However, the …

THE critical domains of the economy and foreign affairs have taken a back seat as the political leadership has been left to scramble for continuing in power. This seems to be rather dicey in a world that is trying to deal with fragile energy markets and food security in its Covid-battered existence, and global peace in the wake of the …

Agriculture and housing loans — along with micro, small and medium enterprises (MSME) finance — are vital for boosting economic activity. And, if banks start lending more to all the three sectors at the same time, that almost guarantees accelerated GDP growth in the short-to-medium term. Currently, though, banks are not wholesomely engaged in such an exercise. But the government …

ISLAMABAD: Senior officials of Pakistan, Uzbekistan and Afghanistan will meet in Tashkent next week for a trilateral meeting to discuss a potential railway project aimed at laying a railway track linking Termez, Mazar-i-Sharif, Kabul and Peshawar to promote trade in the region. Minister of State and chairman of the Board of Investment (BoI) Azfar Ahsan has left Islamabad for Tashkent …