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WB assures of help as Dar vows to complete Dasu project on time

ISLAMABAD – Finance Minister Ishaq Dar chaired a meeting on Thursday to review implementation status of the Dasu Hydropower Project. World Bank Country Director Patchamuthu Illangovan was also present on the occasion. Finance minister highlighted that early implementation of Dasu Hydropower Project Stage-I was a national priority to make affordable …

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CPEC projects will generate 2 million jobs

KARACHI: Governor Sindh Dr Ishratul Ebad Khan said on Wednesday that MQM had distanced itself from him whereas he had not withdrawn from the party. The Governor Sindh performed Eid prayers alongside Chief Secretary Sindh Siddiq Memon and senior officials as well as delegates from Muslims countries, at Bagh-e-Jinnah polo …

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Rs.539,115 mln released for various water, power projects in FY2015-16 J

ISLAMABAD, July 4 (APP): The government has released Rs.539115.990 million out of total Rs.700,000 million allocated for various water and power projects in Public Sector Development Programme (PSDP) 2015-16. According to the Planning Commission data, an amount of Rs.66351.416 million out of total Rs.122,821.605 million allocated during the last fiscal …

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POL prices to remain unchanged for July

ISLAMABAD: The prices of petroleum products would remain unchanged for the month of July despite a recommendation by the Oil and Gas Regulatory Authority (OGRA) to increase the prices. This was announced by Finance Minister Ishaq Dar at a press conference here Thursday. He said that the government has decided …

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Pakistan, EU sign two financing agreements

ISLAMABAD – Financing agreements for the Balochistan Rural Development and Community Empowerment Programme and the International Labour and Environment Standards programme were signed between the European Union and the government of Pakistan on Wednesday. Secretary, Economic Affairs Division (EAD) Tariq Bajwa signed the agreements on behalf of Pakistan while Stefano …

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No sales tax on laptops, desktops from July

ISLAMABAD – State Minister for IT Anusha Rahman said on Wednesday that there would be no sales tax on desktops and laptops from July 2016 onwards. While chairing the 33rd meeting of Pakistan Software Board, she said the IT industry would reciprocate to these tax incentives by remitting all its …

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POL prices may increase up to 19 percent

Islamabad – Ogra yesterday recommended the government increase the prices of different petroleum products up to 19.39 percent, it is learnt reliably here. The Oil and Gas Regulatory Authority (Ogra) sent a summary to the petroleum and finance ministries suggesting Rs 1.93 per litre (3 percent) increase in the price …

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PAKISTAN ADB approves $600m loan package

ISLAMABAD: The federal government has embarked upon a dangerous path to build foreign currency reserves through borrowings. The Asian Development Bank on Tuesday approved $600 million loan package for Pakistan, increasing new loan contracts to $2.1 billion in just a week. Under the latest programme, the ADB will disburse the …

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IMF approves $501m loan installment

ISLAMABAD: The International Monetary Fund has approved the second last loan tranche of $501 million to Pakistan amid fresh concerns the country may go off-track after the completion of its three-year programme. Prior to the approval on Monday, the IMF Executive Board completed the 11th review of Pakistan’s economic performance …

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Rupee up vs euro on UK decision

After Britain’s decision to leave the EU, the weakening rupee gained Rs2.60 on the buying counter and Rs1.90 on the selling counter, hitting almost a month high against the euro at Rs116.50 and Rs118.00 respectively. Earlier the rupee traded weak against the dollar and euro. There was a slight pressure …

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