Business

ISLAMABAD: Prime Minister Imran Khan was informed on Friday that economic activities worth Rs1 trillion had been generated in Punjab through initiation of several housing and construction projects. According to the Prime Minister Office, Punjab Chief Secretary Jawad Rafique Malik told a meeting of the National Coordination Committee on Housing and Construction presided over by the prime minister that construction …

• Allows ministry to seek extension in debt relief from G20 • 2,738 new infections, 36 deaths reported ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved, in principle, a $150 million supplementary grant to procure anti-Covid vaccine. The committee also allowed the Ministry of Economic Affairs to formally request G20 countries for extension in Covid-19-related debt …

ula ISLAMABAD: The Public Accounts Committee (PAC) was informed on Thursday that the number of audit paras pending before it ha risen to about 21,000. Auditor General of Pakistan (AGP) Javed Jahangir informed a meeting of the PAC that 18,500 audit paras had been pending till August 2018, but later 2,000 to 2,200 new paras were added to the backlog. …

ISLAMABAD: The Competition Commission of Pakistan (CCP) team on Thursday carried out a search and inspection of the All Pakistan Cement Manufacturers Association (APCMA) offices in Karachi to investigate possible anti-competitive activities by manufacturers. Sources in the CCP said that two different teams entered and searched the offices of APCMA chairman and vice chairman located in Karachi and impounded relevant …

ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday deferred a final decision relating to unbundling of gas utilities — Sui Nothern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) — and instead decided to constitute a sub-committee to examine the proposal at length and see if domestic consultants could come up with a way forward. The …

mer ISLAMABAD: The government has been supporting demands of the business community for revival of industrialisation as it is essential for economic growth in the country, Minister for Planning, Development and Special Initiatives Asad Umar said whilst addressing a delegation of Islamabad Chamber of Commerce and Industry (ICCI). “The government is fully focused on reviving industrialisation to achieve rapid economic …

ISLAMABAD: Members of the federal cabinet on Thursday announced a Rs600 billion package for development projects in south Balochistan. The announcement was made by Minister for Planning and Development Asad Umar along with Information Minister Senator Shibli Faraz, Minister for Defence Production Zubaida Jalal and Minister for Communication Murad Saeed. The projects will be implemented in nine districts of southern …

ISLAMABAD: Pakistan’s textile and clothing exports posted a paltry growth of 3.78 per cent year-on-year to $4.76 billion in July to October FY21 compared to $4.58bn, data released by the Pakistan Bureau of Statistics (PBS) showed on Wednesday. In October, export proceeds were up by 6.18pc from a year ago. In September, they grew by 11.03pc while a decline of …

ISLAMABAD: The Asian Development Bank (ADB) has raised Rs1.83 billion ($11.4 million) local currency ‘Karakoram bonds’ and promised its continued support for Pakistan’s development efforts and Covid-19 pandemic response. This is a first issue of local currency ‘Karakoram bonds’ by a multilateral development bank of which Pakistan is a member, said the ADB in a statement. A Karakoram is an …

t KARACHI: The State Bank of Pakistan (SBP) expects GDP growth to stay within the range of 1.5–2.5 per cent in FY21 against the target of 2.1pc set by the government, said the annual State of the Economy report for 2019-20 issued on Wednesday. This year-on-year improvement is expected to come from a steady performance of agriculture and a recovery in the …