Export industries and Food manufacturers to get special relief
Siraj Kassam Teli the Chairman of the Businessmen Group and former president of the Karachi Chamber of Commerce & Industry (KCCI) , has said that a mechanism has been decided between the industries, the chief minister of Sindh, the secretary of industries/chief secretary under which it has been agreed in principle that the lockdown in […]
SBP reduces interest rate to 11 percent
In a tweet the State Bank of Pakistan (SBP) has said: “MPC (Monetary Policy Committee) has decided to cut the policy rate by a further 150 basis points to 11 percent.” With this decision, SBP has decided to decrease its ‘Policy Rate’ (Target Rate) from 12.50 percent to 11 percent. SBP Overnight Reverse Repo (Ceiling) […]
Evaluation report reveals Diamer Bhasha Dam against PPRA,PEC Rules
The Water Resource Development Company (WRDC) has written a letter to Director General Public Procurement Regulatory Authority (PPRA) pointing out the ambiguities surrounding the Diamir Basha Dam (DBD) project. According to the letter the evaluation report of DBD is contrary to PPRA and Pakistan Engineering Council (PEC) rules as no consultant of international repute for […]
Pakistan will touch absolute water scarcity line within 5 years
A research conducted by the Pakistan Council of Research in Water Resources (PCRWR) states that under the current circumstances Pakistan will touch absolute water scarcity by 2025. According to Dr Muhammad Ashraf, Chairman PCRWR, Pakistan will only be left with 500 cubic meters per person per day in any such situation. The root cause of […]
FDA will work on ten constructive schemes to improve city infrastructure
A meeting has been held under the chairmanship of Director General FDA Muhammad Suhail Khawaja about the implementation of development programme. Additional Director General FDA Amer Aziz, Chief Engineer Shahid Mehmood, Deputy Director Engineering Hasan Zaheer, Deputy Director Admin Yasir Ijaz Chatta and other officers were present as attendee. Under the Prime Minister’s Sustainable Development […]
The auto industry sought bailout against Corona pledge from Government
Under drastic pandemic situation due to coronavirus, the three top Japanese auto companies have shut down their plants. The country’s auto industry has also sought bailout package from government to deal with current economic woes. The auto industry has pursued following incentives from the government i.e. no turnover tax, half of utilities bills from February […]
NTDC will finance the local components of Lucky Electric Coal Fired Plant
For the Evacuation of Power from 660 MW Lucky Electric Coal Fired Plant at Port Qasim project, the Government will arrange Rs 750 million foreign financing. This project has been approved at the cost of Rs 1.315 billion. The official documents of the project have indicated that an amount of Rs. 454 million would be […]