The Board of Directors of MCB Bank Limited met under the Chairmanship of Mian Mohammad Mansha on Tuesday to review the performance of the Bank and approve the financial statements for the…
Farm loan disbursement swells to Rs 98b in 1QFY15
During first quarter of the current fiscal year (Jul-SeptFY15), the banks have disbursed Rs 98.1 billion, said the central bank on Tuesday. This amount constitutes 20 per cent of the overall annual…
Govt decides to keep power tariff unchanged
In what seems to be a decision heavily influenced by the protests staged by Pakistan Tehreek-e-Insaf (PTI) in Islamabad, the government on Tuesday decided to keep the electricity tariff unchanged at an…
16 projects of 2,685 MW under process, minister tells Senate
The Senate was informed on Tuesday that 16 power projects with aggregate capacity of 2,685 megawatts are currently in different stages of completion. Minister of State for Water and Power Abid Sher…
Engro Foods’ reports loss in third quarter
In a sign of continuing struggle amid declining margins, Engro Foods reported a net loss in the third quarter of 2014, according to the company’s latest financial results. However, the local…
Meezan Bank acquires HSBC
Pakistani branch operations of HSBC Bank Middle East have now merged with and into Meezan Bank. Subsequently, all customers of HSBC Pakistan will automatically become customers of Meezan Bank. Earlier on,…
Turkish businessmen for joint ventures to promote business
Turkey for being the second fastest growing economy of the world after China has a lot to offer to their Pakistani counterparts through joint ventures, said Murat Agabay, leader of a four-member…
SC allows govt for OGDCL privatisation
The Supreme Court on Monday allowed the government to privatise Oil and Gas Development Company (OGDCL). Hearing the OGDCL case, the apex court in an interim order directed that OGDCL shares be…
‘Lack of credit access keeping Pakistan underdeveloped’
The Pakistan Economy Watch (PEW) on Sunday said lack of access to credit is one key factor keeping Pakistan underdeveloped. Like many other developing countries, private sector in Pakistan is facing problem…
Micro financing aiming at small ventures: KP CM
While talking to Bank of Khyber Chief Executive Shamsul Qayum at CM Secretariat Sunday, Khyber Pakhtunkhwa Chief Minister Pervaiz Khattak said that provincial government has established first Islamic Microcredit Division by providing…
ADB links reforms with improved economic conditions
The Asian Development Bank (ADB) in its recent report has said that economic reforms initiated by the government in the past year contributed to improved economic conditions, growth edged up, budget deficit…
ASEM to provide platform for innovation: Rashid
Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid has said that 6th Asia-Europe Culture Ministers’ Conference (ASEM) will provide an opportunity for innovative ideas and practices in the fields of…
Dar for keeping tax reforms realistic
Dar asks Tax Reforms Commission to make recommendations to broaden tax net and ensure improvement in tax-to-GDP ratio, facilitation of tax payers and transparent client-friendly system Finance Minister Senator Ishaq Dar has…
Nasser comes in as new PIA chief
The aviation division has appointed Nasser NS Jaffer as the new chairman of Pakistan International Airline (PIA). “A notification has been issued after approval from Prime Minister Nawaz Sharif,” a spokesman for…
ICCI president grills govt for low FDI
Islamabad Chamber of Commerce & Industry (ICCI) has shown concern over the falling foreign direct invest (FDI), which has declined by 26 percent during the first quarter of this financial year and…
PTA rejects hike in water tariff
Pakistan Tanners Association (PTA) Chairman Hamid A Zahur has rejected the upward revision of water tariff for industry, terming it uncalled. Zahur said that the KWSB act would only contribute to push-up…
Pakistan to ink accord with China for 10,400 MW power projects: Asif
Minister for Water and Power Khawaja Asif on Friday expressed the hope that agreements will be signed next month with China for 10,400 MW projects of electricity generation in Pakistan. Addressing a…