KARACHI/ISLAMABAD: The Pakistan Sugar Mills Association (PSMA) submitted a detailed response on Thursday to the Federal Investigation Agency (FIA) over the sugar probe report, rejecting it and terming it “one-sided”. In a 45-page letter to the FIA Director-General, the PSMA said allegations leveled against the sugar mill owners were false and that the investigative agency had not included their view…
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The Covid-19 global pandemic has created unprecedented worldwide health and economic crisis. The energy sector, as a critical enabler of modern life, is uniquely affected by this crisis but is also essential for global and national response and recovery efforts. The impact caused by the coronavirus crisis has highlighted how much modern societies rely on energy sources like electricity. Electricity…
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Pakistan’s central bank unexpectedly cut its policy rate for a third time in a month in an attempt to revive economic growth that has stalled because of a lockdown to stop the spread of the coronavirus pandemic. State Bank of Pakistan cut its key target rate by 200 basis points to 9% in an unscheduled meeting, according to a statement…
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DUBAI/RIYADH/WASHINGTON (Reuters) – Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world’s poorest countries through the end of the year, a move quickly matched by a group of hundreds of private creditors. The actions to freeze both principal repayments and interest payments will free up more than $20 billion…
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Staff were putting the finishing touches to the field hospital on Wednesday. At full capacity, hundreds of doctors and nurses would work at the site in central Dubai. It is understood there would be a staggered roll out of available beds from Thursday, rising to precisely 3,030 if needed. It may well turn out that the field hospitals are not…
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KARACHI: The World Health Organisation (WHO) is supervising a research about fast-track development of Covid-19 treatment in Pakistan which would help ascertain the effectiveness of anti-Malaria drugs while treating the coronavirus patients, officials and industry sources said on Wednesday. The development emerged after Getz Pharma — Pakistan’s only WHO-approved manufacturing facility — joined hands with the University of Health Sciences…
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LONDON: Since April 9, the Pakistan International Airlines (PIA) has not taken any passengers — stranded in Britain because of the coronavirus pandemic — back to Pakistan. The April 9 flight had flown members of a federal minister from London to Islamabad. The national airline has no information whether or when there will be any flight to repatriate nearly 400…
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Nations belonging to the G20 group of leading economies have agreed to suspend debt payments owed to them by some of the world’s poorest countries. The agreement covers money that is due to be paid to G20 governments up to the end of 2020. The aim is to help countries deal with the health and economic impacts of the coronavirus…
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At a time in the world when countries are desperately seeking a cure and are trying to stem the spread of COVID-19, not only has society’s daily routine been transformed, but the electric industry’s as well. Patterns of energy demand that have been largely predictable are now turned on their heads. In addition, social distancing has led to lower energy…
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KARACHI: Pakistan’s leading pharmaceutical company, Getz Pharma donated 15000 testing kits as well as 1.9 million tablets of Hydroxychloroquine to the Sindh government to help in its fight against the Coronavirus pandemic. Hydroxychloroquine, or HCQ 200 is an anti-malarial drug shown to be effective against the Coronavirus. Getz Pharma is among a handful of companies that manufactures the drug. The…
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