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FAISALABAD:  The government has finalised policy interventions for upgrade and value addition in textile sector with enhanced market access, said Adviser to Prime Minister on Commerce Abdul Razak Dawood. Addressing the ‘4th All Pakistan DICE-Textile Innovation Event’, organised by the National Textile University (NTU) Faisalabad, on Wednesday, he said that now...
ISLAMABAD:  The government on Wednesday appointed Mohammad Younus Dagha federal finance secretary, bringing one of the best officers to deal with the most challenging task of ensuring fiscal discipline and negotiating a deal with the International Monetary Fund (IMF). Dagha – a career civil servant – enjoys a good reputation and...
ISLAMABAD:  The Credit Suisse AG Group has won a bid to provide financial advisory services for one of the biggest privatisation transactions of two-LNG fired power plants that is expected to fetch around $2 billion for cash-starved Pakistan. The consortium led by Credit Suisse and comprises of Elixir Securities, Ernst &...
KARACHI:  Pakistan has geared up efforts to receive remittance inflows from overseas Pakistani workers through legal channels to combat against the possibility of money laundering and terror financing. Besides, enhanced inflows through legal channels became the need of the hour at a time when the country requires higher foreign currency reserves...
KARACHI: The current capacity of the local auto industry is 285,000 cars, which are expected to reach 600,000 by 2021, said Indus Motor Company CEO Ali Asghar Jamali. He told the Senate Standing Committee on Production and Industries that the government should adopt wholesale-retail mechanism, as is practiced globally, to increase...
ISLAMABAD:  The government has sacked managing director of the Sui Northern Gas Pipeline Company Limited (SNGPL) for issuing inflated gas bills to over three million consumers during winters. According to a notification, the SNGPL board on Wednesday decided to remove the incumbent MD Amir Tufail and gave the additional charge of...
ISLAMABAD:  The federal government has agreed to a package of Rs5 billion for the rehabilitation and relocation of citizens living around the Line of Control (LoC) and to ensure their protection from Indian military strikes and firing. As per the package, protective bunkers will be built five kilometers from the Line...
ISLAMABAD:  The government on Wednesday approved Rs17.5 billion supplementary budget for largely meeting expenditures of legislators and temporarily displaced persons including Rs400 million for maintaining an aircraft being used by Prime Minister Imran Khan. The Economic Coordination Committee (ECC) of the Cabinet also approved higher hydel profit for Azad Jammu and...
KARACHI: The government should devise policies for growth of the auto sector including formulation of standards for car parts, Senate Standing Committee on Industries said on Tuesday. During a visit to Toyota Motors plant, the committee observed that government functionaries need to facilitate the private sector while ensuring strict implementation...
ISLAMABAD: The government is expected to pay Rs1.15 per unit water use charges to Azad Jammu & Kashmir – on par with net hydel profit (NHP) to provinces – on hydropower generation and reduce its federal grants and transfers proportionately. The Economic Coordination Committee (ECC) of the Cabinet, which meets...

Opinion

structural

Towards structural readjustment

Pakistan is on the brink of negotiating its 15th bailout from the IMF. Like a déjà vu we have gotten used to, we are...