Power sector touches circular debt of Rs. 2 trillion
The energy sector of Pakistan has touched a new low after circular debt reaches Rs. 2 trillion. On March 17, 2020, Power Division explained to the Cabinet that on August 20, 2018 circular debt was Rs 1.262 trillion (Rs 658+604) and till December 2019, the amount was Rs 1.765 trillion (961+ 804 billion). The build-up […]
Importers/Exporters demanding demurrage chargers to be waived
Patron-in-Chief of United Business Group (UBG) and former president of FPCCI, S. M. Muneer, has urged the government to waive the demurrage chargers at port to facilitate the investors. Commenting on reports of the ECC extending the “free time” period at Karachi Port Trust from 5 days to 15 days, he said that the period […]
NKATI appreciates SBP’s refinance scheme
North Karachi Association of Trade & Industry (NKATI) has lauded the government’s refinance scheme and have expressed their thanks to Prime Minister Imran Khan, Finance Advisor Hafeez Shaikh and Governor State Bank Reza Baqir on fulfilling NKATI demands. This scheme is expected to help the businesses and industries to pay their workers even during this […]
SBP announces anti-layoff scheme
The State Bank of Pakistan (SBP) has announced an incentive policy for business to prevent excessive layoffs during this period of lockdown. According to experts layoffs at this time will not only increase unemployment substantially but will also prevent industries and companies to perform at their maximum capacity after the lockdown is over. According to […]
PSO demanding over 100 bn amid Covid-19 pandemic
To avoid evasion on international responsibilities, Pakistan State Oil (PSO) has sent an SOS to the government demanding for over Rs 100 billion. As under Covid-19 pandemic, many economic sectors of all-most all countries have been wedged severely, the oil industry is being affected badly. An excess has emerged due to reduction in country-wide demand […]