Pak-IMF talks begin today

Pakistan would formally request for a $5 billion fresh loan package from the International Monetary Fund (IMF) in policy level talks likely to begin...

Shahbaz Sharif approves “Khadim-e-Punjab Ujala Programme”

Punjab Chief Minister Muhammad Shahbaz Sharif has approved the “Khadim-e-Punjab Ujala Programme” under which ten thousand schools will be shifted to solar energy system across...

PSO cashes in on turnover tax reversal

KARACHI - The reversal of turnover tax decision has significantly benefited Pakistan State Oil with a positive impact of Rs 21 per share on its bottom line. The turnover tax was increased to one percent, as announced in the budget of FY11, adversely affecting companies with a high turnover and relatively lower margins.
According to details, PSO booked additional tax expense amounting to Rs 5.0 per share, thereby lowering the profit to Rs 4.54 for the first quarter of financial

Pakistan–US Business Conference in Dubai on 25th

In an effort to expand business, commerce and trade relations between Pakistan and United States (US), a special conference entitled the ‘Pakistan US Business...

India owes Pakistan more than Rs 5.6b!

State Bank of Pakistan believes India has yet to cough up money equivalent to the present-day value of assets that the Reserve Bank of India...

Oil prices rise to cover earlier losses

World oil prices rose Monday, reversing earlier losses, with focus on the United States where refineries were on strike. US benchmark West Texas Intermediate for...

Lucky Cement records 26.55pc increase in profit

Lucky Cement Limited declared a profit after tax, for the year ending June 30 2011, of Rs3.97 billion which is 26.55 per cent higher...

EOBI’s subsidiary company termed ‘illegal’, corruption unearthed

  The very existence of the Pakistan Real Estate Investment and Management Company (Primaco), a subsidiary of the Employees Old Age Benefits Institution (EOBI), has...

TDAP organises workshop on cost reduction

Proper planning and scheduling, selection of good service providers, training of staff and complete documentation are the essential elements for managing cost component during...

Samsung chairman ordered to appear in Indian court in decade-old dispute

NEW DELHI- India's Supreme Court has ordered Samsung Electronics chairman Lee Kun-hee to appear before a local court within six weeks to avoid arrest in...

Rs 32 billion allocated under PSDP for Diamer Bhasha Dam

The federal government has allocated Rs 32 billion under Public Sector Development Programme for the year 2016-17 for a construction of Diamer-Bhasha Dam. According to...

Microfinance falls on hard times

LAHORE: Slow economic growth, double digit inflation, high unemployment rate and the high cost of production is not only hampering the growth of industry but also hitting the microfinance sector hard.
Official figures show that Pakistan's real GDP growth rate plummeted from six percent in the financial year (FY) 2005 to 2.7 percent (estimated) in FY10, productivity fell sharply and average annual inflation rose from 4.8 percent in FY05 to 14.2 percent in FY10. Economists believe

Customs clearing agents observe strike in Torkham

Customs clearing agents observed strike in Torkham on Tuesday. The customs clearing agents boycotted clearing activities for four hours against allegedly unjustified closing of all...

Towards the white revolution

Despite the fact that Pakistan is the fourth largest milk producer in the world, the country still lags far behind in realising the full...

Food & Oil imports hike by 14.38pc

The import bill of food and oil rose 14.38 pc YoY to $9.258 billion in the first seven months of the current fiscal year,...

IFC praises Pakistan’s economic turnaround

    The Executive Vice President of the International Finance Commission (IFC), Philippe Houerou praised economic policies and strict financial discipline of the Pakistan government that...

Pilots hint at strike over PIA-TA deal

LAHORE - Pakistan Air Line Pilots Association (PALPA) plans to go on strike from 8 February, 2011, if Pakistan International Airlines (PIA) does not annul the imbalanced agreement with Turkish Airlines (TA).
PALPA President Captain Sohail Baloch while speaking to Pakistan Today said his organisation has given the airlines the deadline of February 7, 2011 to cancel the agreement with TA. He threatened that the alternative is a strike and halt the flying operations of the airlines