ISLAMABAD: The government is working on budgetary incentives for 2021-22 to maintain its gains what it has so far achieved to put the country on way to industrialization, making solid ground for import substitution and emphasizing more focus on diversification in exports of the country, an adviser to the prime minister said Sunday. In an exclusive chat with The News,…
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Trees sustain life. They give us the air we breathe; the shade we sit under. But many trees do a lot more than just that. The Indus Delta’s mangrove forest ecosystem, for example, supports various life forms. These dense trees, that protect us from storms, cyclones and tsunamis, are also home to different kinds of marine life including fish, shrimp…
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PIA has announced its financial results for FY 2020 as it submitted audited accounts with the Stock Exchange of Pakistan. What has been termed as one of the worst year in decades for the global aviation industry whereby even largest players in the market have obtained huge bailout packages from their respective governments to stay afloat, PIA came up with…
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LAHORE: The PTI government’s strategy to cap the flow — or the addition of new stock — of the power sector’s circular debt in the next two years has ‘too many variables and moving parts’, which need to be implemented concurrently for the success of the proposed plan. The government has formulated the Circular Debt Management Plan with the assistance…
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A delegation of Russian businessmen led by Sergey Savchuk, CEO, CC RusWelding called on Board of Investment (BOI) Chairman Atif Bokhari to discuss investment opportunities in Pakistan. The delegation briefed about their projects related to water desalination and conversion of solid waste to energy, which they intend on setting up in Karachi. They also spoke about developing an engineering center…
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Pakistan Refinery Ltd (PRL) is looking to buy a second-hand refinery complex to upgrade its operations and increase output to help meet rising demand for petroleum products as the country emerges from a pandemic-driven slump. The South Asian country currently has five refineries with a total capacity of 417,000 barrels per day (bpd), according to Pakistan’s 2020 economic survey, the…
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Shell Pakistan on Friday organised a webinar to look at the global transformations taking place in the energy sector due to the Covid-19 pandemic and its resultant impact on demand. Head of Shell Scenarios and Vice President of Global Business Environment Jeremy Bentham was the keynote speaker at the event titled “The Energy Transformation Scenarios”. “The COVID-19 pandemic is having…
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Pakistan is set to become the world’s 23rd biggest economy by 2040 based on its predicted gross domestic product (GDP) rank which currently sits at 39th position, according to a United States intelligence report, which is issued every four years. The assessment was included in this year’s Global Trends report by US National Intelligence Council (NIC), which is designed to help policymakers…
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Pakistan needs economic transformation by redefining resource allocation and incentive structure, said Federal Minister for Planning, Development and Special Initiatives Asad Umar. Addressing a seminar on Friday, Umar said that deeper understanding and new levers are needed to trigger growth, and the most important function of the government is to provide policy signalling, a framework for competitiveness and supportive regulatory…
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The country’s development and defence budgets have shrunk significantly over the past two years and spending at a reduced level will remain almost flat in the medium term, that is until 2026, in line with fiscal consolidation measures under the ongoing International Monetary Fund (IMF) programme. Documents released by the IMF after revival of its programme about two weeks ago…
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