KARACHI: The government raised more than Rs760 billion from the domestic sukuk market with Islamic banks still having enough liquidity to fill in the fiscal gap, The News learnt on Wednesday. Issuance of the government of Pakistan Ijara sukuk based on variable and fixed rental rates amounted to Rs561 billion last year. Two hundred billion rupees was generated through Pakistan…
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ISLAMABAD: Former federal minister and PML-N leader Ahsan Iqbal has claimed the PTI government has delayed the decision for seeking a loan from the IMF, so the monetary organisation has come in a position to dictate its conditions, knowingly that Islamabad had exhausted all other options. In an interview with ‘The News’ on Wednesday, Ahsan Iqbal said, “If the government…
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Experts have agreed that the time is ripe for Pakistan to shift towards green energy and called on the government to devise policies to facilitate stakeholders in exploring additional avenues for sustainable renewable energy. At a webinar titled “Clean Energy Transition in Pakistan” on Wednesday, Private Power and Infrastructure Board (PPIB) Managing Director Shah Jahan Mirza said power and energy…
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ISLAMABAD: Energy Minister Omar Ayub Khan has said that the government is focusing on energy projects under the new renewable energy policy by harnessing local resources for power generation. Omar Ayub Khan said this during a meeting with Ambassador of the Kingdom of Saudi Arabia Nawaf bin Saeed Ahmed Al-Malki who called on him on Wednesday. The minister and ambassador deliberated…
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Stocks on Wednesday ended near three-year high as a surprise oil surge fired up energy sector that was later joined by cements on price hike hopes and banks because of strong earnings outlook, dealers said. Benchmark KSE-100 shares index hit a high of 1.13 percent or 502.99 points to close at 45,153.42 points at Pakistan Stock Exchange (PSX). Volumes increased…
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Hundreds of US President Donald Trump’s supporters stormed the US Capitol on Wednesday in a stunning bid to overturn his election defeat, battling police in the hallways and delaying the certification of Democratic President-elect Joe Biden’s victory for hours. In the gravest assault on the symbol of American democracy in more than 200 years, rioters forced their way past metal…
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SINGAPORE — Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal. Analysts said prices of the commodity in the country have shot up due to the reported crunch. The reports also follow rising trade tensions between Beijing and Canberra, leading some analysts to tie the coal shortages and blackouts to the…
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It is autumn of 2019 and the world knows nothing of Covid-19 or R numbers. I’m stood at Concordia camp in the Karakoram mountains of Pakistan. Tomorrow, I will complete the final leg of a two-week trek to K2 base camp at the foot of Earth’s second-highest mountain….
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