Priyanka follows Nehru-Gandhi footsteps into Indian politics

NEW DELHI: India’s Priyanka Gandhi officially entered politics on Wednesday ahead of a looming national election, joining the opposition campaign in a crucial state where the party her family founded hopes to unseat Prime Minister Narendra Modi.Priyanka — whose father, grandmother and great-grandfather were all prime ministers — was appointed Congress party chief in the east of Uttar […]

Less reliance on foreign funds suggested as ‘debt bomb’ looms

DAVOS: As developing countries face the threat of a ticking ‘debt bomb’, experts have suggested reducing reliance on foreign-funded mega projects and running primary budget surpluses to stop further accumulation of debt. In a session on the ‘Debt Time Bomb’ held on the second day of annual World Economic Forum meetings, the panellists highlighted risks of […]

With lifting of curbs, auto industry sees rise in demand

KARACHI: In a bid to provide relief to the car manufacturing industry, the Pakistan Tehreek-e-Insaf (PTI) government has lifted the restriction on new vehicle purchase by non-filers of tax returns, who can now buy cars of up to 1,300cc engine capacity.However, the government has decided to increase the rate of advance income tax on the purchase […]

NEPRA approves tariff hike of Rs0.57 per unit

The National Electric Power Regulatory Authority (Nepra) approved on Wednesday a tariff increase of Rs0.57 per unit for ex-Wapda distribution companies on account of fuel cost adjustment for December 2018.At a public hearing, Nepra noted the use of costly furnace oil for power generation instead of re-gasified liquefied natural gas (LNG) and demanded all details […]

Balochistan makes a pitch for foreign investment

DAVOS: The civil and military leaders from Balochistan have offered the global elites to invest in the deep seaport of Gwadar and mines and mineral sectors of the province which, they believe, has the potential to bring prosperity to the whole region.Balochistan Chief Minister Jam Kamal and Quetta Corps Commander Lt Gen Asim Saleem Bajwa on […]

Consensus eludes Senate panel on jobs for locals

ISLAMABAD: The Senate Standing Committee on Parliamentary Affairs on Wednesday deferred its deliberations on the bills moved by Pakistan Peoples Party Senator Sherry Rehman for the provision of jobs for Pakistani workers in foreign investment projects.Several members of the committee as well as Board of Investment (BoI) secretary objected to the timing of the bill, saying […]

Pakistan-China relations: Chinese envoy calls for countering propaganda

ISLAMABAD: Chinese Ambassador to Pakistan Yao Jing has said that propaganda being spread against the friendly ties between Pakistan and China needs to be countered.“We are committed to development in Pakistan and both the countries are progressing through China Pakistan Economic Corridor (CPEC) project,” Jing said on Wednesday while addressing a function organized by the Institute […]

Rigging probe panel to take up ToRs on Jan 30

ISLAMABAD: The parliamentary committee formed to investigate allegations of rigging in the 2018 general elections on Wednesday decided to have consultation on its Terms of Reference (ToRs) in the next meeting on January 30Minister for Defence Pervez Khattak, who chaired the meeting, said that the sub-committee formed to finalise ToRs submitted its report. The committee, comprising […]

India plans state asset sale to raise $11bn

NEW DELHI: The Indian government is likely to seek to raise about 800 billion rupees ($11.21bn) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters on Tuesday.The target, which is the same as for the current financial year, includes […]

Agreement signed for $3bn deposit from Abu Dhabi

KARACHI: The State Bank of Pakistan (SBP) on Tuesday signed an agreement with Abu Dhabi Fund for Development (ADFD) for $3 billion to be deposited in the SBP account.The announcement came from the Foreign Office in a Twitter post at 8:30pm which added that the funds “will help Pakistan achieve financial stability and overcome economic […]

China to pick Afghan Taliban as political force: envoy

PESHAWAR: Chinese Ambas­sador in Islamabad Yao Jing has said that his country will “pick Afghan Taliban as a political force” in the backdrop of their participation in the ongoing peace talks with the US and at other forums.Speaking at a roundtable conference at the Area Study Centre, University of Peshawar, on Tuesday, he said that […]