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Business

Pakistan Steel, PIA, OGDCL to be privatised by June

ISLAMABAD: (Web Desk) The government will complete transactions of three major public sector entities by June this year, Chairman of Privatisation Commission, Muhammad Zubair said on Wednesday. Talking to Mrdia, he described 2017 as a ‘strong year for privatisation’. In addition to Pakistan Steel Mills (PSM), the government has decided …

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Moneychangers no more bound to surrender dollars

KARACHI: (Web Desk) The State Bank of Pakistan (SBP) on Tuesday exempted moneychangers from surrendering a certain percentage of imported dollars to banks. The SBP has been showing concerns about the appreciation of the dollar in the open market. Its officials held a meeting with representatives of the exchange companies …

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Foreign direct investment jumps 10pc

KARACHI: Foreign Direct Investment (FDI) has shown a sign of improvement after a long time as inflows improved 10 per cent year-on-year to cross the $1 billion mark in July-Dec. The overall investment increased 52pc to $1.82bn for the period under review. However, this increase was achieved by including the …

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Petrol price reaches Rs68.4 per litre after Rs1.77 hike

ISLAMABAD:  Finance Minister Ishaq Dar has announced an increase of in the prices of petroleum products. “The Oil and Gas Regulatory Authority (OGRA) had forwarded a summary to the Ministry of Petroleum and Gas, seeking a Rs1.80 hike in the price of petroleum products,” Dar said at a press conference …

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Pak, Iran, Turkey establishing road, rail networks to boost trans-regional trade

ISLAMABAD: In a major plan to develop rail and road networks for boosting trans-regional trade, Pakistan-Iran-Turkey road and rail corridor is being operationalised in order to enhance the regional connectivity for boosting trans-regional trade. A senior official at the ministry of the communications informed Pakistan Today that Pakistan, Turkey and …

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Pensioners to get savings returns from banks

KARACHI: (Web Desk) The State Bank of Pakistan (SBP) has allowed clearing house membership to the Central Directorate of National Savings (CDNS), which will enable widows and senior citizens to deposit National Savings-issued instruments directly into their bank accounts anywhere in Pakistan. All banks would now accept profit coupons and …

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Xi to be first Chinese leader to attend Davos World Economic Forum

BEIJING: (Web Desk) President Xi Jinping this month will become the first Chinese head of state to attend the World Economic Forum (WEF) in Davos, which this year will dwell on the rising public anger with globalisation and the coming U.S. presidency of Donald Trump. Xi will take centre stage …

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PM announces Rs180bn incentive package for export sector

ISLAMABAD: (Web Desk) Prime Minister Nawaz Sharif has announced incentives worth Rs180 billion in a bid to boost Pakistan’s sagging exports. He made the announcement at a ceremony attended by members of the domestic business community in Islamabad Tuesday afternoon. The package includes the removal of customs duty and sales …

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