Chief Editor: Ansar Mahmood Bhatti

Category Archives: Business

Govt agrees to hike electricity prices by Rs2.60 after IMF deal: sources

ISLAMABAD (DNA) – The government has agreed to stepwise increase electricity prices by Rs2.60 per unit after the bailout deal with the International Monetary Fund (IMF).The hike in rates will provide relief to the national exchequer worth Rs200 billion that are given as subsidy. The prices are scheduled to be surged in two phases which will create a new wave of inflation.

Pakistan, Latvia identify areas for future cooperation

ISLAMABAD, May 08 (DNA): The 5th round of Bilateral Political Consultations between Pakistan and Latvia was held in Riga.Additional Secretary (Europe) Zaheer A. Janjua and Ambassador Janis Mazeiks, Under Secretary of State and Political Director, Ministry of Foreign Affairs of the Republic of Latvia, led their respective delegations.The two sides undertook a comprehensive review of the bilateral relations and identified areas for future cooperation in political, economic, trade, investment, education and cultural fields.

Asad Umar appointed as Chairman of Standing Committee on Finance

ISLAMABAD, MAY 08 (DNA) – Prime Minister Imran Khan has approved to appoint Asad Umar as Chairman of Standing Committee on Finance, on Wednesday.The premier has directed Amir Dogar, the Chief Whip, to handover new responsibilities to Asad Umar.According to the regulations, Pakistan Tehreek-e-Insaf (PTI) Member National Assembly (MNA) and former Finance Minister will first be nominated as a member of the committee, and will then be appointed as the chairman.

Vague economic policy cause of bearish trend in stock market

KARACHI: (DNA) – Experts of Pakistan Stock Exchange and capital market have called upon the government to take quick decision about the direction of economy and sign an agreement with the IMF as early as possible for the improvement of capital market.They have termed unnecessary delay in economic decisions, uncertainty, not fixing direction of economy, decline in interest rate in the market and fear of loss of billions of rupees as main reasons of dwindling investment in the market.

IMF team visits Planning commission

ISLAMABAD, MAY 3 (DNA) – IMF Mission Chief Ernesto Rigo called on Secretary Planning, Development and Reform Zafar  Hasan to discuss PSDP, CPEC and other aspects of planning including macro-economic policies, the Planning Ministry said Friday.Project Director Hassan Daud, Chief Macroeconomic Zafar-ul-Hassan and senior officials of the Ministry were also present in the meeting.The two sides exchanged program on the growth targets as well as policy adjustments to keep the growth momentum. Secretary planning gave a comprehensive overview of the planning process and on CPEC program.

ECC approves sale of petrol at Rs108 per liter: sources

ISLAMABAD (DNA) – The Economic Coordination Committee (ECC) has approved sale of petrol at Rs108 per liter, sources told.The ECC meeting chaired by Adviser on Finance Abdul Hafeez Shaikh has also approved increase in diesel price by Rs4.89 per liter. New prices will be applicable from 12:00am on May 4. On April 30, the federal cabinet had deferred the proposed price hike in petroleum products by the Oil and Gas Regulatory Authority (OGRA) and referred the matter to the Economic Coordination Committee (ECC) for further consideration.

Govt delays hike in prices of petroleum products

ISLAMABAD (DNA) – Government on Tuesday delayed the decision to hike the prices of petroleum products.Addressing a press conference in Islamabad after federal cabinet meeting, Special Assistant to Prime Minister on Information and Broadcasting, Firdous Ashiq Awan said that Prime Minister Imran Khan sent the matter to Economic Coordination Committee (ECC).She said that the federal cabinet felicitated Prime Minister Imran Khan on his successful China visit during which various agreements had been signed.