Business

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) senior vice president and former prime minister Shahid Khaqan Abbasi on Monday said after passage of the controversial State Bank of Pakistan (Amendment) Bill 2021 from the Senate, the SBP governor would become so much powerful that even the parliament would be requiring his nod for doing legislation regarding affairs of the bank. Speaking at …

It has been far too long since we saw still-stuck-in-the-1980s policymakers propose something completely out of touch with the changing world. Two months had passed since the removal of the ban on TikTok and boomers were probably looking for a new prey which they found an easy one in cryptocurrencies as a committee formed by Sindh High Court and constituting members from …

THOUGH cognizant of Chinese sensitivities on confidentiality of bilateral agreements, the government moved to comply with the International Monetary Fund’s (IMF) demands of making public all contingent liabilities to have the $6 billion bailout programme revived. It presented in parliament the details of sovereign guarantees, including the risk cover extended by the Government of Pakistan to certain China-Pakistan Economic Corridor …

The ongoing dispute between government and oil and gas exploration and production firms over post facto implementation of the windfall levy on the profits of the said companies is holding back commercial production of oil and gas from new discoveries. “Foreign and local private companies are neither drilling new wells nor commercially producing anything from the new discoveries because of …

China’s economy expanded at its fastest pace for 10 years in 2021, according to an AFP poll of analysts, but its strong recovery from the Covid-19 pandemic is threatened by Omicron and a property sector slowdown. The eight per cent growth would be well above the government’s target of more than 6pc and comes on the back of a strong start to …

PESHAWAR: The Khyber Pakhtunkhwa government has signed memorandums of understanding (MoUs) with 44 foreign investment companies at Dubai International Expo-2020 that would bring more than $8 billion investment in different sectors. Foreign investors showed great interest to invest in integrated tourism zones, water sports in Hund area of Swabi district, energy and power, food processing, livestock and infrastructure. The investors …

ISLAMABAD: The Asian Development Bank will assist the Sindh government develop a programme implementation plan for the ‘Sindh Education Impact Bond’ (SEIB) to address specific challenges to improving the quality of education in the province, it was learnt here. The bank has approved a technical assistance that will support the Sindh government explore, validate and subsequently operationalise an ‘Impact Bond’ …

The government has raised the price of petrol by around Rs3 per litre, according to a notification issued by the Finance Division late on Saturday night. According to the notification, the price of petrol has been increased by Rs3.01, from Rs144.82 to Rs147.83, the price of high speed diesel (HSD) has been raised by Rs3, from Rs141.62 to Rs144.62, the …

KARACHI: Federal Investigation Agency (FIA) Director-General Dr Sanaullah Abbasi on Saturday said the agency will approach the Pakistan Telecommunication Authority (PTA) for blocking websites dealing in cryptocurrencies to prevent fraud and possible money laundering. He was talking to the media after holding a meeting with a team of senior officials of the State Bank of Pakistan (SBP) at the Cyber …

ISLAMABAD: The present government has introduced “historic reforms” in different sectors, including energy, during the last three years aimed at ensuring sustainable development, Minister for Energy Hammad Azhar said on Saturday. Addressing a news conference, he stressed that the State Bank of Pakistan (SBP) Amendment Bill was essential in the wake of “politically motivated damage done to the economy by …