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Daily Archives: October 17, 2021

Chinese firm blacklisted for a month over ‘forged’ documents


October 17, 2021

LAHORE: The National Transm­ission and Despatch Company (NTDC) has blacklisted a Chinese firm and barred it from participating in all tenders/bidding process for a month. The state-owned subsidiary of the Ministry of Energy (Power Division) blacklisted the firm over allegations of preparing and submitting forged documents to the department concerned during the bidding of a project, Dawn has learnt. “[The Chinese firm] …

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Private sector borrows Rs175bn in 1QFY22


October 17, 2021

KARACHI: The private sector borrowed Rs175 billion from the banking sector during the first quarter of this fiscal year reflecting improved economic activities when compared with a net debt retirement in the same period last year. However, the growth in credit offtake looks stagnant after a jump in mid-September mainly because of growing problem of higher input prices. All eyes …

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Foodpanda to reach breakeven in 2023: CEO


October 17, 2021

KARACHI: Foodpanda Pakistan CEO Nauman Sikandar Mirza has said he expects the company to reach breakeven in 2023. In a recent interview with Dawn, the CEO of the online food and grocery delivery platform said the company has been growing its top line at an annualised rate of more than 50 per cent for the last three years. “We haven’t hit …

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No immediate impact of SBP measures on auto financing, imports


October 17, 2021

KARACHI: As assemblers have advance booking orders for the next four to five months, the State Bank of Pakistan’s recent decision of putting brakes on booming auto financing and curbing import of vehicles is unlikely to have any immediate impact on auto sales. Auto financing plays a key part in determining auto sales as it contributes around 30-40pc of the …

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Another six killed in occupied Kashmir


October 17, 2021

SRINAGAR: Clashes bet­ween fighters and Indian forces as well as street killings left six more dead in occupied Kashmir on Saturday, officials said, as the disputed Himalayan region battles a worsening wave of violence. At least 28 people, including nine civilians, have been gunned down in the past two weeks as a decades-old armed rebellion has intensified in the disputed …

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Islamabad sees record rise in dengue cases


October 17, 2021

ISLAMABAD: Once again, a record number of dengue fever cases were reported in the capital on Saturday. District Health Officer (DHO) Dr Zaeem Zia said in the last 24 hours 152 new cases emerged in Islamabad, taking tally to 1,801. On Oct 13, the capital had reported 125 cases, he added. The DHO said 84 cases were reported from the …

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Fatal attack on British MP termed terrorist incident


October 17, 2021

LONDON: The fatal stabbing of British lawmaker David Amess was a terrorist incident, police said on Satur­day, as MPs pressed for tougher security in the wake of the second killing of a UK politician while meeting constituents in just over five years. Veteran Conservative MP David Amess, 69, was talking to voters at a church in the small town of Leigh-on-Sea east …

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Fazl asks PDM members to take to streets


October 17, 2021

FAISALABAD: President of the Pakistan Democratic Movement (PDM) and chief of his own faction of Jamiat Ulema-i-Islam, Maulana Fazlur Rehman, has requested all partners in the opposition alliance to take to the streets instead of holding meetings. Announcing the movement’s next public meeting in Dera Ghazi Khan on Oct 31, Fazl asked the masses to join them. “We should not …

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Merkel meets Erdogan, sees continuity in Germany-Turkey ties


October 17, 2021

ISTANBUL: Chancellor Angela Merkel on Saturday vowed continuity in Germany’s relations with Turkey that included both cooperation and criticism of Ankara as she paid her final visit to President Recep Tayyip Erdogan. Merkel and Erdogan developed complex but close relations over the German chancellor’s 16-year term that navigated the perils of Turkey’s tumultuous ties with the West. Their personal bond …

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