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Thursday, November 15, 2018
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KASB Morning Shout: We expect to hear more on the front of Chinese financial assistance. Firstly we think the market is underappreciating the significance of the currency swap. In the past the SBP has used it to borrow money in yuan against PkR and then convert that into USD...
KARACHI: Overall despatches of the cement sector during first four months of current fiscal year went up by 5.37 per cent to 15.353 million tonnes, according to latest data released by All Pakistan Cement Manufacturers Association (APCMA). The growth was led primarily led by exports which went up by 39pc...
ISLAMABAD: The government has taken a big U-turn as it has betrayed the export industry by refusing to provide the RLNG of 189 mmcfd to export industry at subsidized rate of $6.51 per MMBTU putting the industry in tatters. Increasing the exports of the country by bringing down the cost...
KARACHI:  Amreli Steels Limited has planned to invest Rs6.5 billion in the third phase of its expansion at Dhabeji to expand its rebar manufacturing facilities, which will help increase the company’s present production of 605,000 tons per annum to 1.1 million tons. This new investment plan, subject to the approval of...
KARACHI:  The Pakistani currency weakened to Rs133.84 to the US dollar, close to the historic low hit in mid-October, in the inter-bank market on Friday after Islamabad started talks with the International Monetary Fund (IMF) for a bailout package. The rupee lost Rs0.82, or 0.61%, from Thursday’s close of Rs133.02, the...
KARACHI: The World Bank has offered $400 million assistance to the Karachi Water and Sewerage Board for improving water and sewerage services in Karachi. The Sindh government has agreed in principle and decided to go ahead with the plan. This emerged from a meeting on Thursday when a World Bank...
ISLAMABAD: Pakistan and the Republic of Korea (RoK) have agreed in principle on an exchange of high-level visits between them to boost economic cooperation, regional peace and security. The agreement was reached during a meeting between Foreign Secretary Tehmina Janjua and RoK Foreign Minister Kang Kyung-Wha before the 10th round...
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has given a week to the Federal Board of Revenue (FBR) to come up with the details regarding the tax evasion in the sugar sector. The sector’s financials have been under spotlight over lack of clarity in the tax collection from...
ISLAMABAD: The Senate Standing Committee on Power said on Thursday that K-Electric (KE) has to clear all its books and ledgers before the utility’s sale to Shanghai Electric. The committee, chaired by Senator Fida Muhammad, was informed about the ongoing financial dispute between KE and various government entities. The KE management...
KARACHI: Agriculture and textile sectors are likely to be the primary beneficiaries if Pakistan’s exports to China get doubled under the renewed discussions between the two countries, a brokerage said on Thursday. Currently, the bilateral trade is immensely tilting in favour of China with Pakistan’s exports much below than the...

Opinion

remittances unpaid

Of unpaid refunds & figure fudging — II

Everybody knows that collection shown by FBR contains blocked refunds of billons, advances from government-owned corporations and amounts extorted, though not yet due. The...