Business

LAHORE: In a bid to keep its power transmission and distribution system upgraded and stable, the National Transmission and Dispatch Company (NTDC) has installed three shunt reactors of 22-MVAR capacity on the 152km-long 500kV Dadu-Jamshoro transmission line emanating from the 500kV Dadu grid station. The NTDC’s Hyderabad-based team also energised the reactors worth Rs340 million on Monday, according to a …

KARACHI: Pakistan Railways scaled down its freight rates, it was announced on Monday. According to a press release issued by the department, the Pakistan Railways has markedly reduced the freight rates of its different services during Eid holidays from May 10 to 16. The move is aimed at offering an affordable means of service to cargo and container parties during …

Carved out of the Mianwali district in 1982, Bhakkar district is known for its Thal desert and the gram/chickpeas and moong pulse produced there. The desert, which protrudes into adjoining Khushab and Layyah districts, produces 80 per cent of chickpeas in the country. Spread over 8,153 sq km, the district lies along the left bank of River Indus and is …

ISLAMABAD: The government’s move to allow bureaucrats to compete for lucrative management positions and enabling private sector experts to join the civil service has generated a debate in the capital. A few bureaucrats, commenting on the government’s decision, said the opening of MP scales would benefit well-connected officers. “Those who are in the good books of the government, ministers or federal secretaries …

ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood said on Sunday that the country’s exports were gradually increasing and export to Australia jumped by 29 per cent during 10 months of the current fiscal year. In a tweet, the adviser said that the country had witnessed $52 million worth of more exports to …

LAHORE: Traders on Sunday asked the Chief of Army Staff (COAS) to take notice of inappropriate use of army troops for forcibly closing down the businesses of small traders by the government and announced that they would hold a protest demonstration in front of the NCOC headquarters in Islamabad after Eid. “This is for Gen Qamar Javaid Bajwa (COAS). The …

• Specialised agencies to probe money laundering cases • Special prosecutors to be hired to ensure implementation ISLAMABAD: The government is set to introduce new rules on forfeiture, management and auction of properties and assets relating to Anti-Money Laundering (AML) cases and transfer of investigations and prosecution of AML cases from police, provincial anti-corruption establishments (ACEs) and other similar agencies …

KARACHI: The non-performing loans (NPLs) of all banks significantly increased by Rs22 billion in the first quarter of the calendar year 2021 to Rs866bn, while the recovery remained less than half of the preceding quarter (October-December 2020). Increased NPLs are a sign of poor banking particularly when the role of the private sector is limited in the banks’ money. The …

LAHORE: Pakistan’s cement producers plan to expand their capacity by more than 40 per cent from nearly 69 million tonnes to nearly 99m tonnes over the next several years in anticipation of 10-15pc growth in their sales every year, claims an All Pakistan Cement Manufacturers Association (APCMA) official. Speaking with Dawn, the APCMA official, who requested anonymity, said almost every cement …

ISLAMABAD: Cellular subscriptions in Pakistan crossed the 183 million mark by the end of March 2021 from 178.97m in January, figures shared by the Pakistan Telecommunication Authority (PTA) on Saturday showed. Mainly owing to pressures from the education sector in the wake of Covid-19 lockdowns, authorities have been expanding internet infrastructure in the country for more than a year. Broadband …