ISLAMABAD: A major fraud has been detected in the National Savings — a public sector organisation of Rs3.6 trillion — in which insiders have reportedly siphoned off around Rs200 million, breaching trust of more than seven million small-to-medium individual savers. The fraud came to light on maturity of 10-year saving certificates of individuals at a […]
BEIJING: China will provide necessary assistance to Pakistan to steer the country out of the current economic crisis but more talks are needed on the details of such assistance, Chinese Vice Foreign Minister Kong Xuanyou said on Saturday following the meeting of Prime Minister Imran Khan with his counterpart Li Keqiang. Speaking to reporters at […]
ISLAMABAD: Inflation in Pakistan surged to seven per cent in October, up from 3.8pc in the same month last year — marking the biggest increase in three years and 10 months. Compared to September this year, the consumer price index (CPI) in October increased by 2.6pc. The government has projected a 6pc annual inflation target […]
ISLAMABAD: Pakistan on Thursday said it would not seek rescheduling of about $2.7bn Chinese loans due for repayment this year but expected a good economic package, including expansion of the multi-billion dollar China-Pakistan Economic Corridor (CPEC) to a next level. “We will give you very good news on return,” said minister for planning and focal […]
ISLAMABAD: The Rs 45 billion olive cultivation project has been closed down more than 18 months ago due to financial irregularities. The government handed over the project to the Pakistan Agriculture Research Council (PARC). The Italian agriculture experts declared Potohar region in Punjab and some parts of Khyber Pakhtunkhwa and Balochistan suitable for the olive […]
The largest chunk from this amount, $900 million, is available for reimbursement to Pakistan but almost half of it, $400m, has been put out of its reach. To get those $400m, Pakistan will have to get a ‘good conduct’ certificate from the US defence secretary. Like a schoolmaster waiving the punishment given to a student, […]
PESHAWAR: The Khyber-Pakhtunkhwa (K-P) government is seeking a loan of Rs70 billion from the World Bank (WB) for developmental projects which are capable of generating revenue. Provincial government officials held their first meeting with bank officials on Thursday at the K-P House in Islamabad. Sources present in the meeting chaired by K-P Chief Minister Pervaiz […]
Member National Assembly Tahira Aurangzeb on Saturday said that incumbent PML-N government is endeavouring its best to bring special persons in mainstream for economic development and prosperity of the country. She was speaking here at National Press Club in the event about Participation of Women with Disabilities in Decision Making Process Observance of International Day […]
ISLAMABAD: Pakistan is expected to attract direct investment of at least $150 million after the Nov 23 bidding for three direct-to-home (DTH) broadcast licences. A top official of the Pakistan Electronic Media Regulatory Authority (Pemra) told journalists that 12 companies, including three foreign operators as part of local consortiums, had been shortlisted to bid […]
The 3rd Session of the EU-Pakistan Strategic Dialogue – which took place in Brussels this morning – saw High Representative, Federica Mogherini and Sartaj Aziz, Advisor to the Prime Minister of Pakistan on Foreign Affairs, meet to discuss issues of mutual interest, including the current situation in Kashmir. The EU expressed its concern with recent […]
