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Thursday, January 17, 2019
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ISLAMABAD: The large-scale manufacturing sector shrank 0.6 per cent during November, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. The sector’s performance also remained lack lustre during 5MFY19 as it declined 0.9pc year-on-year due to dismal performance of pharmaceuticals, petroleum products, iron and steel products, and electronics. The LSM decrease...
ISLAMABAD: The government on Wednesday sought the opposition’s support on the ‘mini-budget’ to be announced on Jan 23. In this regard, National Assembly Speaker Asad Qaiser facilitated two meetings between the government and opposition in which the issues of the mini-budget and formation of committees of the National Assembly were...
KARACHI:  Pakistan achieved a six-month high foreign investment in different productive sectors of the economy in December 2018 after the country finished a year-long exercise of letting the rupee depreciate against the US dollar to create an equilibrium. Foreign direct investment (FDI) increased 17% to $319.2 million in December 2018 compared...
ISLAMABAD:  Year 2019 will be good for all as ExxonMobil has started drilling an offshore well, said Petroleum Minister Ghulam Sarwar Khan and invited the US oil and gas company to engage in onshore exploration as well. “We will make things easy for international investment. For this purpose, duties and taxes...
KARACHI: Owing to unavailability of high quality cotton in Pakistan, the country’s textile industry is becoming increasingly reliant on imported fibre. The cotton imported from the United States has been greatly helping the textile industry cope with challenges such as high production costs and compliance requirements. Consequently, the cotton import from...
ISLAMABAD: Pakistan has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through the National Summary Data Page (NSDP). The e-GDDS was established by the IMF in 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and...
ISLAMABAD:  Statutory auditors of Pakistan International Airlines (PIA) have refused to validate financial statements for the last almost two years due to some missing record, which could carry huge implications for the company, shareholders and the management. Ernst & Young Ford Rhodes and KPMG Taseer Hadi and Co – the top...
ISLAMABAD:  Pakistan wants to lift trade relations with all its neighbours and regional countries, including Iran, India, and Turkey, said Finance Minister Asad Umar. Addressing the 11th annual report launch by Burky Institute of Public Policy on Wednesday, the minister said Iran was an important neighbour of Pakistan in the west...
ISLAMABAD:  The Pakistan Tehreek-e-Insaf (PTI) government faces a tough choice between implementing an economic stabilisation programme that will lead to creating slightly over 5 million jobs or giving economic stimulus to fulfill promise of creating 10 million promised jobs. In case it picks up the option of economic stabilisation, the average...
The Lahore Chamber of Commerce and Industry on Tuesday has demanded immediate withdrawal of hike in NHA charges including NOC fee, approach rentals and security. LCCI President Almas Hyder said the industry cannot afford the increase that is bound to jack up the cost of doing business and promote...

Opinion

nfc asad

Asad: between rock and a hard place

The beleaguered Finance Minister gets no respite. He is constantly in the line of fire; at times under friendly fire as well. He puts...