hile we wait to get a clearer picture of the health coronavirus curve in India, we already have the first estimate of the job-destruction caused by the nation-wide lockdown. The numbers are staggering, worse than anything the world has ever known. More jobs were lost in India in the last two weeks than anything ever recorded in economic history. The…
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The Fauji Foundation has appointed renowned corporate figure Waqar Ahmed Malik as its new Managing Director and Chief Executive Officer. The announcement has recently been made through a notification issued by the foundation. Spanning over 30 years in corporate and business sectors across three continents, Malik has specialty in strategy, corporate/ business leadership and board governance. His professional experience includes…
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KARACHI: Pakistan’s public debt rose by 5.14 percent to Rs1.635 trillion in the eight months of the current fiscal year, mainly due to increase in domestic debt accumulation, the central bank data showed on Tuesday. Public debt was Rs33.421 trillion at the end of February 2020, up from Rs31.786 trillion till end June 2019. Domestic debt increased 7.02 percent to…
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ISLAMABAD: Pakistan on Tuesday received an unexpected relief when it was given a five-month grace period by the Financial Action Task Force (FATF) to submit its performance report on 13 outstanding benchmarks for foolproof arrangements against money laundering and terror financing. “We have just received an intimation from FATF through the State Bank of Pakistan that our review scheduled for…
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Prime Minister Imran Khan has taken serious notice of the threats being hurled at the inquiry commission probing the sugar crisis and warned the elements of severe action if they continue to intimidate the committee. “The prime minster has expressed extreme displeasure over the threats being given to the FIA inquiry commission probing the sugar crisis,” Special Assistant to Prime…
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Stocks in Asia Pacific were mixed on Wednesday as countries in the region continued to put measures in place to battle the coronavirus pandemic. In Japan, stocks saw a turnaround after an earlier slip, with the Nikkei 225 rising 2.13% to close at 19,353.24 as shares of index heavyweight Fast Retailing surged 7.7%. The Topix index also gained 1.59% to…
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ISLAMABAD: An electric vehicle policy came up for discussion on Monday, and persistent differences in views between commerce ministry and climate change ministry continued to mar the smooth passage of the policy. The meeting presided over by Adviser to the Prime Minister for Commerce, Investment and Industries & Production Abdul Razak Dawood was attended by Minister for Science and Technology…
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Large numbers of people flocked to popular tourists sites and major cities across China over the country’s holiday weekend, despite warnings from health authorities that the risk posed by the coronavirus pandemic remains far from over. Images from the Huangshan mountain park in Anhui province on Saturday April 4 showed thousands of people crammed together, many wearing face masks, eager…
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The priority is to move ahead with the rapid financing instrument that Pakistan requested to fight the novel coronavirus pandemic, International Monetary Fund resident representative Teresa Daban Sanchez says in reply to questions. • Work continues on the $6 billion extended fund facility: statement • Pakistan authorities remain committed to the policies and reforms outlined under the EFF-supported program secured…
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Successful commissioning of a few hydro projects in last two years has added 2487 MW of cheap and clean energy in Pakistan’s Grid and is reducing our reliance on expensive IPPs. After Mohmand Dam and Dasu Project as Pakistan is all gear up for a cracker of Diamer Basha Dam to commence in a few weeks time (despite Corona crisis)…
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