Business

ISLAMABAD: Prime Minister Imran Khan on Wednesday said the privatisation of Pakistan International Airlines (PIA) was not in the manifesto of Pakistan Tehreek-i-Insaf government. “Privatisation of the national flag carrier is not in the manifesto of the PTI government and therefore it has initiated a reform process to overcome losses being incurred by the airline,” he said at a meeting …

FIGURES released by the State Bank of Pakistan (SBP) last week showed a 40 per cent slump in profits and dividends repatriated on Foreign Direct Investment (FDI) in the first half of the financial year (July-Dec 2018). There could be numerous reasons for this slowdown. FDI has fallen to$628.8 million in 1HFY19 against $1,055.4m in the same period last year, …

LONDON: Japanese car manufacturer Nissan announced on Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government. “While we have taken this decision for business reasons, the continued uncertainty around the UK’s future relationship with the EU is not helping companies like ours to plan for the future,” …

The State Bank of Pakistan (SBP) is not upbeat about the prospects of agricultural growth during the current fiscal year. Its first quarterly report acknowledges all the issues that the farmers’ lobby has been highlighting right from the beginning of the year. Severe water shortages in Sindh that created a drought-like situation in some areas, higher prices of inputs, including …

THE provinces are not inclined to lay their cards on the table at this point as they are probably still in the process of articulating their stance on the vertical and horizontal sharing of resources and the special separate pool for security and other needs. The marathon meetings for the eighth National Finance Commission (NFC) Award are expected to kick-start …

This is not the time for keeping interest rates stable. The State Bank of Pakistan (SBP) has given its verdict against the government’s desire for — and most analysts’ predictions about — no interest rate hike. The SBP has raised its policy rate by 25 basis points to 10.25pc for February and March. At a meeting of the Monetary and …

ISLAMABAD: The government is expected to offer a series of incentives to ensure the success of Special Economic Zones (SEZs) and mobilise overseas Pakistanis to invest in Pakistan. A meeting of the Economic Coordination Committee (ECC) of the cabinet has been summoned on Monday (today) to discuss a two-point agenda: challenges faced by the existing SEZs and those proposed under …

KARACHI: The stock market extended the winning streak for fifth week in a row, notching up gains of 848 points (2.11 per cent) and storm past the physiological barrier of 40,000 to close at 50-session high of 41,113. The week’s upsurge took the 2019 year-to-date return to 10.9pc. The rally was underpinned by the preceding week’s economic reforms package that …

ISLAMABAD: Neelum-Jhelum Hydropower Project (NJHP) resumed generation on Saturday after it was closed on Jan 5 for scheduled maintenance during the low water flow period in the Neelum river. Spokesperson for the Water and Power Development Authority (Wapda) said the inspection of plant on depressurisation of tailrace revealed that civil, electrical and mechanical works were in good quality while adding …

KARACHI: Higher inflows of US dollars during the last week of January eased up pressure on the exchange rate as the rupee gained about one per cent against the US dollar in the open market. “We have been selling dollar at Rs139.50 before the $2 billion inflows which fell to Rs138.20 on Saturday,” said Secretary General of Exchange Companies Association …