SBP cuts policy rate to 9 percent
The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) has reduced the key policy rate by 200 basis points (bps) to 9 percent to minimize the Coronavirus shock on economic growth. The MPC had reduced the interest rate to 11 percent in its last meeting. This decision was taken in an emergency meeting […]
Riyadh Edrees appointed chairman KE
Riyadh S. A. A. Edrees has been elected as the new chairman of K-Electric Limited. Edrees holds twenty-five years of experience across the fields of construction, finance, oil & gas and telecommunications and academics, He is also chairman of Meezan Bank Limited – Pakistan, Chairman and Managing Director of Ikarus Petroleum Industries Company and is […]
PM ordered to keep check on implementation of SOP’s
Prime Minister Imran Khan has ordered Mian Aslam, Punjab Minister for Industries, to persist constant contact with the business community and chambers to ensure the implementation of Standard Operating Procedures (SOPs) against coronavirus. Under current scenario, while opening certain industries, the government has also shared SOPs with the provinces for protection of the labours and […]
World Bank insisted Railway’s restructuring for ML-I
The World Bank (WB) has penned that without restructuring the railway sector in Pakistan, the ML-I project under the China-Pakistan Economic Corridor (CPEC) worth $9.172 billion will not be successful. As the implementation of the Pakistan Railways Strategic Plan (PRSP) is a pre-requisite to the success of this Project, the improvement of the quality and […]
Oil and gas production showing declining trend amid lockdown
The oil and gas production has taken a massive hit due to the current lockdown situation. Oil production has been decreased by 35 percent while gas production is down by 17 percent in the two weeks of lockdown. Oil production in the country during the third quarter of FY20 is likely to record a fall […]