The federal government has released Rs526.3 billion (75 percent) including Rs95.84 billion foreign aid (74.7 percent) for various ongoing and new development projects under the Public-Sector Development Programme (PSDP) 2019-2020 against the budgeted allo
The government has decided to constitute an inter-ministerial committee to formulate privatisation mechanism of power sector distribution and generation companies, well-informed sources told Business Recorder.
The World Health Organization warned on Saturday that recovering from coronavirus might not protect people from reinfection as the death toll from the pandemic approached 200,000 around the globe.
The government is expected to grant special tax incentives to the small and medium enterprises in coming budget (2020-21) to facilitate estimated 5.2 million enterprises affected due to Coronavirus outbreak and partial lock down.
Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Saturday said the federal and all the provincial governments were together trying to defeat the coronavirus pandemic and provide relief to the vulnerable segm
Dozens of doctors and nurses have launched a hunger strike demanding adequate protective equipment for frontline staff treating coronavirus patients, the lead organiser of the protest said Saturday.
The Finance Ministry has set up a front desk in the ministry for receiving budget orders from the ministries and divisions for the next fiscal year, and has directed that only one relevant person along with summary of demands should approach the desk owin
Pakistan will convene a group of interested countries at the United Nations to commence consultations on further steps that can be taken to evolve a comprehensive solution to the debt challenges of developing countries resulting from the COVID-19.
The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has said that Pakistan's project performance marginally declined, from 80 percent in 2016-18 to 78 percent in 2017-19.
A meeting of the think tank recently formed by the prime minister to deliberate on the Covid-19-related economic downturn and mitigation of ensuing risk on Saturday, emphasized the need for further downward revision in policy rate, coupled with passing on
Deutsche Bank has declined a request by prominent US senators to provide information about the German lender's recent business dealings with President Donald Trump and his family, according to a letter this week seen by Reuters.
The government on Saturday extended the suspension of international flight operations till May 15 in line with the national strategy to contain the spread of novel coronavirus (COVID-19).
Sindh Chief Minister Syed Murad Ali Shah launched counselling & psycho-social support service during Covid-19 emergency which could be reached on helpline 1093, web page COVIDPSS.PK and community-based psycho-social support mobile app on android and IOS.
The Pakistan International Airlines (PIA) has incurred an estimated Rs12 billion financial losses following suspension of its flights operation worldwide; however, it has no plan, like other airlines, to lay-off its employees, high-level sources said.
Foreign Minister Shah Mahmood Qureshi on Saturday said Pakistan had enhanced the capacity to bring back 7,000 stranded Pakistanis from abroad every week, and hoped that all the 60,000 stranded nationals would be repatriated before Eidul Fitr.
Saudi Arabia has abolished flogging as a punishment, the state human rights commission said Saturday, hailing a "major step forward" in the reform programme launched by the king and his powerful son.
India plans to fast track the review of some investment proposals from neighbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.
Ministry of Planning, Development & Reforms (MoDP&R) has proposed the procedure to clear the pending liabilities of the closed development projects. The development projects approved by different forums are executed by Ministries/Divisions. As per existin
The State Bank of Pakistan (SBP) has asked all the banks, microfinance banks and DFIs for registration of their security interests on movable assets of entities with Secured Transactions Registry (STR) under the Financial Institutions (Secured Transaction
Boeing announced Saturday it was pulling out of a $4.2 billion deal to acquire the commercial plane division of its Brazilian rival Embraer. The companies had planned to form a joint venture in which Boeing would take an 80 percent stake in that division.
This is apropos a Business Recorder op-ed "Lives versus livelihoods?" carried by the newspaper on Thursday. The writer, Nadeem Javaid, has aptly summarized the situation in a highly impressive manner. According to him, for example, "Regrettably, we
Does sunlight rapidly destroy the coronavirus? A White House presentation on a mysterious government study says so - but some scientists have called for caution as we await more evidence.
There is a famous Latin term 'Caveat venditor' which means 'let the seller beware'. This phrase is in stark contrast with the widely known and used contractual phrase 'Caveat emptor' that solely puts the burden of quality and suitability of the goods befo
It is widely argued that historically cement cartel existed in Pakistan. It appears that the 'cartel' is back. Last week, reportedly, there was a meeting of cement companies to jack up prices in North. Some say that how can a cartel persist with around tw
Whilst the officially declared mitigation strategy against coronavirus is Stay Home, Stay Safe, Islamabad's administration has rendered hundreds of people homeless. Videos of a 'clean-up operation' posted on social media show a demolition squad tearing do
The annual budget session is due amid the coronavirus outbreak, the question, however, is: Where should the parliament meet? The government is for virtual meetings of the two houses but the opposition is opposed to it, expressing apprehension that upcomin
On the first day of Ramazan, the people of Lahore stubbornly defied the government's repeatedly call for social distancing to limit the spread of the deadly coronavirus as they rushed to grocery shops and street stalls to stock up food for sehri and iftar
Sindh Minister for Revenue & Relief Makhdoom Mehboob Zaman Saturday directed the Senior Superintendent of Police, District Matiari to hold a high-profile meeting with all DSPs & SHOs to monitor, evaluate and assess District Matiari's current deteriorating
Directorate General Intelligence and Investigation (DGI&I), Customs, Karachi has detected Rs 25 million tax evasion in the imports of stainless steel sheets.
Sindh Chief Minister Syed Murad Ali has said that with detection of 287 new cases of the coronavirus in the province the tally has risen to 4,232 while three more patients died taking the total number of deaths to 78.
Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest & Wildlife Syed Nasir Hussain Shah has said "to make sure that our health sector did face the burden it could not cope with and to ensure that our economy
Emirates Airlines is stepping up precautionary measures at the airport and on board to ensure the health and safety of its employees and customers. All cabin crew, boarding agents and ground staff in direct contact with passengers will now don personal pr
The Sindh government has also permitted fishermen to sail their 'all kind' of boats within the territorial waters, i.e. 12 nautical miles, according to officials on Saturday.
In an impressive fire power display, Pakistan Navy Fleet units demonstrated their combat readiness through live weapon firing of anti-ship missiles in North Arabian Sea.
Chaudhry Salamat Ali, Central Chairman, Pakistan Hosiery Manufacturers & Exporters Association has demanded the govt to rank the textile industry among top priority as it is highest foreign exchange earner and employment provider and restore the zero rati
Pakistan Association of Autoparts Accessories Manufacturers (Paapam) Chairman Capt Muhammad Akram (retd), while praising the Punjab government decision to allow tractor industry to operate, has highlighted that without granting exemption to downstream sup
Pakistan Industrial and Traders Associations Front (PIAF) has said G20 countries' short-term foreign debt relief will not benefit Pakistan in the long run to deal with the COVID-19 pandemic crisis.
Mailboxes of leading banks are unable to handle massive applications for restricting/rescheduling of loans in the wake of coronavirus spread in the country.
Former skipper Sana Mir on Saturday called it a day on her glittering 15-year cricketing career during which she played 226 internationals, including 137 as captain from 2009 to 2017.
The National Board of All Pakistan Business Forum (APBF) on Saturday unanimously passed a resolution, asking the government to announce soft financing with maximum markup of 3 percent for SMEs to meet the operational charges, salaries, building rental and
Faisalabad Development Authority (FDA) Director General Muhammad Suhail Khawaja directed for focussing special attention on administrative and construction measures for speedy completion of Kashmir bridge underpass mega project at canal road and said that
The Punjab Seed Corporation (PSC) will buy 560,000 bags of wheat seed each weighing 100 kilograms during the current procurement season from its registered growers to prepare certified high-quality wheat seed for the next season.
Habib Construction Services has won a contract for development work on the remaining three packages of LDA City Phase-I Jinnah Sector at a cost of Rs 3.90 billion.
Punjab Minister for Industries and Trade Mian Aslam Iqbal said on Saturday that business community should not panic on Anti-Hoarding Ordinance. "No action would be taken against one who declares his stock and necessary details to the authority concerned,"
Advisor to KP CM on Local Governments and Rural Development (LG&RD), Kamran Bangash has been tested positive for coronavirus and quarantined at his residence for a period of two weeks, said an officially issued press release here Saturday.
Prime Minister Imran Khan Saturday while recounting the decades long political struggle of Pakistan Tehreek-e-Insaf, said the party had embarked upon a mission to achieve Quaid-e-Azam Muhammad Ali Jinnah's vision.
The incidents of carjacking, various kinds of thefts, and kidnappings have witnessed increase during the last week in the capital city, in spite of the lockdown imposed in the wake of coronavirus outbreak.
The high-level committee on cellular companies' issues is likely to recommend industry status for telecom sector and reduction in taxes to the prime minister, it has been learnt.
Prices of essential kitchens items have witnessed an increasing trend during this past week compared to the week before, a survey conducted by Business Recorder revealed here on Saturday.
With the number of novel coronavirus (COVID-19) cases rising in the federal capital and surrounding areas, the Islamabad Capital Territory (ICT) administration on Saturday ordered closure of all shops and food outlets at 5pm as part of the measures, aimed
The Millennium Education TME - a leading 21st Century Education System has extended the acAcess from the classroom environment to the learner's home through 'Connecting Classrooms' via MATRIX - Learning Management System which has digitalized the learning
Pakistan Bar Council (PBC) has supported the demand of the Pakistan Medical Association (PMA) and doctors for complete lockdown throughout the country, and enforcing the writ of the State for ensuring social distancing, in true and strict sense, at all pu
The National Electric Power Regulatory Authority (Nepra) has constituted a committee of experts to prepare its reply on the report on Independent Power Producers (IPPs) prepared by a nine-member committee.
Steel rebar and hot-rolled coil futures in China fell on Friday, posting losses for the week, as rising output at mills outweighed the destocking pace of inventories that continued to remain at elevated levels.
US natural gas futures dropped as much as 5.5% on Friday on forecasts of milder weather, and as shutdowns to prevent the spread of the coronavirus led to dwindling fuel demand and rising stockpiles.
Cotton traders are not hopeful that trading on cotton market will improve in near future despite of the fact that government had given permission to the mills to start their operations as well as allowed the traders to open their shops for limited time pe
Asia's naphtha crack ended the week at a two-day low of $51.85 a tonne after hitting a two-month high in the previous session, as demand was mostly muted following a string of purchases.
The price of Venezuelan oil has fallen to below $10 a barrel - its lowest level in more than two decades, the government said on Friday. The oil ministry said the price between Monday and Friday was 70.62 Chinese yuan - $9.90 a barrel - a level that has n
The Canadian government said Friday that one million KN95 masks imported from China did not meet its strict standards and so could not be distributed to frontline health workers amid the coronavirus pandemic.
German biotech company BioNTech, which has approval for human trials of potential coronavirus vaccines, has lately been contacted by industry players but is not interested in a takeover, a newspaper reported on Saturday.
Rapper Kanye West is now a billionaire thanks largely to the basketball shoes bearing his name that he developed with Adidas, Forbes magazine said Friday.
A Russian cargo capsule with 2.5 tons of supplies docked with the International Space Station (ISS) on Saturday after the fastest such trip yet from earth, the national space agency Roscosmos said.
China has dispatched a team to North Korea including medical experts to advise on North Korean leader Kim Jong Un, according to three people familiar with the situation.
Ministry of Planning, Development and Special Initiatives, has decided to establish Construction Industry Development Board (CIDB) as an autonomous body, allegedly to "accommodate" one of the close friends of a top man in the Ministry as Chief Executive O
The State Bank of Pakistan will remain closed for public dealing on Monday, April 27, 2020, which will be observed as "Bank Holiday" for the purpose of deduction of Zakat.
The government Friday revised rates of profit on all saving schemes and accounts of the Central Directorate of National Savings (CDNS), which would be applicable to deposits and investments made with effect from April 24, 2020.
The Asian Development Bank (ADB) on Friday assured Pakistan of providing $1.7 billion during ongoing calendar year for dealing with the coronavirus pandemic.
President Dr Arif Alvi Friday promulgated Anti-Smuggling Ordinance, 2020, into law to tighten noose around smugglers of currency and essential commodities.
Former prime minister Shahid Khaqan Abbasi is learnt to have written a letter to the Federal Investigation Agency (FIA) Director General seeking time to appear before the commission holding probing about sugar and wheat scam.
Pakistan Stock Exchange Friday after moving both ways settled on a negative note. BRIndex100 lost 8.49 points or 0.25 percent to close at 3,369.49 points. BRIndex100 touched intraday high of 3,405.87 and intraday low of 3,363.95 points. Volumes stood at 1
The weekly inflation during week ended April 23 against April 16, 2020 on Week-on-Week (WoW) basis witnessed an increase of 0.62 percent for combine income group, from 125.16 points to 125.93 points, the Pakistan Bureau of Statistic (PBS) revealed.
The Federal Board of Revenue (FBR) Friday expressed serious displeasure over the deferment of genuine sales tax refund claims of exporters by field formations and directed the chief commissioners to give explainable reasons with evidence to justify deferm
The growing use of export restrictions by governments can be "dangerously counterproductive" as the world deals with the coronavirus pandemic, the IMF and WTO warned Friday.
World leaders pledged on Friday to accelerate work on tests, drugs and vaccines against COVID-19 and to share them around the globe, but the United States did not take part in the launch of the World Health Organization (WHO) initiative.
The United Nations on Friday launched a global push to speed up production of a vaccine for the new coronavirus as US President Donald Trump came under fire for suggesting injecting patients with disinfectant.
Muslims around the world began marking Ramadan under coronavirus lockdown on Friday with unprecedented bans on family gatherings and mass prayers, while a pushback in some countries has sparked fears of a surge in infections.
Exchange rate of Pakistan rupee remained unchanged against major currencies in open market whereas it depreciated against USD in Interbank market on Friday.
The Sindh government has placed a ban on Taravih during the month of Ramazan. In his video message, the Chief Minister of Sindh, Syed Murad Ali Shah, said that he had discussed the issue with President Dr Arif Alvi and with his consent, the Sindh governme
The Sindh government has decided that all the business activities will operate from 8 am to 5 pm with certain exceptions, however an exception is given to milk and dairy shops to operate till 8 pm shall be subject to condition that no sale of Samosa, Pako
The federal government has decided to extend the ongoing lockdown for another 15 days, ie, till May 9 across the country for protection of masses and to contain the spread of coronavirus.
New orders for durable manufactured goods collapsed in March as companies were forced to shut down production amid efforts to contain the spread of the coronavirus, the Commerce Department reported Friday.
Balochistan High Court (BHC) has declared nomination of Daroo Khan as vice President of SAARC Chamber of Commerce and Industry and approved replacement of one male member with a female member.
Reiterating his stance on the coronavirus lockdown, Prime Minister Imran Khan stressed on Friday that the country will have to return to normalcy while pushing ahead with its fight against the pandemic.
Director-General of Inter-Services Public Relations (ISPR) Major General Babar Iftikhar on Friday said that Chief of Army Staff (COAS) General Qamar Javed Bajwa has directed to implement steps taken to contain coronavirus with the help of civil institutio
National Assembly Committee on Virtual Session has invited all parliamentary leaders in it next meeting to be held on April 29 (Wednesday) to discuss mechanics for holding coming session of the parliament.
