Category: Business
Public debt increases to Rs 34.5 trillion just 9 months
The central government’s debt increased at a double-digit pace to Rs34.5 trillion by the end of May 2020 on an annualised basis, according to State Bank of Pakistan....
SBP imposes Rs 1.6bn fine on 15 commercial banks for violating laws
The State Bank of Pakistan has imposed heavy fines on 15 commercial banks. Their offences include not recording customers’ data and violating foreign exchange laws as...
IMF predicts Pakistan’s economy will recover in 2021
The International Monetary Fund (IMF) on July 10 predicted recovery in Pakistan s economy during financial year 2021. In a report titled “Policy Actions Taken by...
Corona aid: Pakistan gets Rs335bn debt relief from G20
Pakistan will sign its debt relief agreement with G20 countries separately before the deadline of December 31, 2020, in order to avail debt relief of slightly over $2...
State Bank receives $1.3b loan from Chinese banks
The State Bank of Pakistan confirmed on June 30 receiving loans worth $1.3 billion from Chinese banks this week. In a tweet, the bank said that it has received the...
Shanghai Electric makes a fresh plea to purchase 66% shares of K-Electric
Shanghai Electric Power Company Limited has made a fresh Public Announcement of Intention (PAI) to purchase up to 66.4 percent of the ordinary share capital of...
Pakistan is no more self-sufficient in wheat, Parliament told
Minister for National Food Security and Research Syed Fakhr Imam informed the National Assembly on June 25 that Pakistan was no longer self-sufficient in wheat as the...
Pakistan earns $688 million by exporting transport services
Pakistan earned US $ 688 million by providing different transport services in various countries during the ten months of ongoing fiscal year (2019-20) as compared to the...
Developing Asia to grow just 0.1% in 2020: ADB forecasts
Developing Asia will barely grow in 2020 as containment measures to address the coronavirus disease (COVID-19) pandemic hamper economic activity and weaken external...
Pakistan declared seventh biggest country in mango production
The Punjab Agriculture Department (PAD) has said that Pakistan is seventh biggest country in production of mango in world. According to spokesman of department Najaf...