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Senate Committee on Industries recommends Rs3bn package to PMTF, opposes privatisation KARACHI: Led by Senator Hidayatullah, Senate Standing Committee on Industries and Production has recommended immediate bail out package of Rupees three billion for Pakistan Machine Tool Factory (PMTF) and write-off of Rs1.155 billion bank loans besides permission to induct manpower.Other members of the Senate committee included Senator Aurangzeb Khan, Senator Mrs Khalida Perveen and Senator Mrs Kulsoom Parveen. The committee had a detailed visit to PMTF on Thursday.Once very strong and successful public sector industrial entity, PMTF's decline started when it was placed on privatisation list in 1999, PMTF management said.PMTF is facing financial crisis after very successful four decades since its commission in 1970. The decline in PMTF's production and sales is due to its shrinked capacity because of no modernization and upgradation of the plants and machinery since 1985, said PMTF's Chairman, Syed Mohiyuddin Kaukab and its Managing Director, Engr. Ahmed in their briefings to the Senate Committee.The ...

PIA clarifies media report about imposition of fine in Saudi Arabia ISLAMABAD: Pakistan International Airlines (PIA), through its legal department, has appealed to Qazi court in Saudi Arabia to resolve a matter regarding hiring of a building for pilgrims in 2011."With reference to reports being carried by a segment of media, regarding imposition of fine on PIA for hiring of a building for Hujjaj in 2011, it is clarified that PIA, through its legal department, has appealed to Qazi court in Saudi Arabia which has asked ...
Providing gas to domestic consumers top priority: SNGPL MULTAN: Sui Northern Gas Pipelines Limited Multan region General Manager Muhammad Hanif Ramay said providing gas supply to domestic consumers was a top priority.He said sui gas loadsheding under the load management plan was being made from 9 pm to 6 am daily across the region while gas supply was being provided to domestic and commercial consumers in day time with full pressure.Talking to APP here on Friday, Hanif Ramay said the demand of sui-gas ...
Gov't takes concrete measures to revive film industry: Pervez Rashid ISLAMABAD: Federal Minister for Information and Broadcasting, Senator Pervaiz Rashid said on Thursday that the government taken several measures to revive the film industry of the country and promote the positive image of the country abroad."Films are actually face of any society to promote itself in the world, unfortunately this face was mutilated and our society was gradually driven away from this," he said while responding to questions during question hour in the National Assembly.He ...
All set to get hands on shale gas deposits ISLAMABAD: Spurred by growing energy needs and steady depletion of producing hydrocarbon resources, government is also diverting resources to get hands on shale gas deposits in the country which are over 10,000 trillion cubic feet(TCF).The public sector company-Oil and Gas Development Company Limited(OGDCL) and Pakistan Petroleum Company Limited(PPL) have been tasked to carry out a pilot project, drilling first Shale gas well in four months in a part of Sindh.The project is being launched following ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln