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CPEC size to stay at $50 billion for now

CPEC size to stay at $50 billion for now

ISLAMABAD:Size of the China-Pakistan Economic Corridor (CPEC) will remain unchanged at $50 billion, for now, as both the countries have decided to consolidate the already approved projects amid a hope to also achieve the financial close of $1.7 billion transmission line project.A meeting of the Joint Cooperation Committee (JCC) of the CPEC will take place on […]

Gov’t to invest $8 billion in Gwadar Oil City project

Gov’t to invest $8 billion in Gwadar Oil City project

ISLAMABAD (AFP) – In a recent development, $8 billion investment is expected in the Gwadar Oil City.Minister for Planning, Development and Reforms has informed the Senate Special Committee on China Pakistan Economic Corridor (CPEC) that the government was expecting $8 billion investment in Gwadar project.According to details, the investment will be made in the proposed […]

Pakistan to get $3 billion in aid in next few days: Saudi envoy

Pakistan to get $3 billion in aid in next few days: Saudi envoy

ISLAMABAD: Saudi ambassador to Pakistan, Nawaf Saeed Al-Malki said on Wednesday the first installment of financial aid amounting to $3 billion will be released in the next few days.The Arab kingdom will release the amount of three billion dollars in terms of balance of payment, he stated in a short interview with a private news channel.The ambassador […]

Fatima Fertilizer’s profits rise 7% to Rs2.77 billion

Fatima Fertilizer’s profits rise 7% to Rs2.77 billion

KARACHI: Fatima Fertilizer Company Limited’s profit improved 7% to Rs2.77 billion in the quarter ended September 30, 2018 compared to Rs2.58 billion reported in the same period of the previous year.The increase in profit jacked up earnings per share from Rs1.23 to Rs1.32 in the period under review.However, the rise in company’s profit does not reflect the […]

CDWP clears seven schemes of Rs283 billion

CDWP clears seven schemes of Rs283 billion

ISLAMABAD: The federal government cleared on Wednesday seven development schemes at a cost of Rs283 billion including the Peshawar metro bus project which was approved at 38% or Rs18-billion higher cost compared to the initial estimate of the provincial government.In its maiden meeting, the Central Development Working Party (CDWP) gave the go-ahead to five projects costing […]

Country attracts $11.96 billion net FDI during last 5 years

Country attracts $11.96 billion net FDI during last 5 years

ISLAMABAD (APP) – The country attracted US $11.96 billion worth of net Foreign Direct Investment (FDI) during previous five years from, 2013 to 2018.Year wise data shows that during 2012-13, net inflow of FDI was recorded at US $1.456 billion, while during 2013-14, the net FDI was recorded at $1.699 billion, and in 2014-15, the […]

Audit slams PIA management as losses rise to Rs360 billion

Audit slams PIA management as losses rise to Rs360 billion

ISLAMABAD: The national carrier incurred a loss of Rs360 billion by the end of 2017, said an audit report submitted to the Supreme Court (SC) by the auditor general of Pakistan (AGP).The apex court in May had instructed the AGP to conduct an audit of Pakistan International Airlines (PIA) for the last 10 years.As part of the […]

China to penalize $60 billion of US imports in tit-for-tat move

China to penalize $60 billion of US imports in tit-for-tat move

WASHINGTON/BEIJING: China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of US products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods.The tit-for-tat measures are the latest escalation in an increasingly protracted trade dispute between the […]

A sessions court in Lahore on Monday asked musician and actor Meesha Shafi to submit her reply by July 5 in the Rs1 billion defamation case filed against her by fellow artist Ali Zafar.

A sessions court in Lahore on Monday asked musician and actor Meesha Shafi to submit her reply by July 5 in the Rs1 billion defamation case filed against her by fellow artist Ali Zafar.

In a statement on Twitter on April 19, Shafi had accused Ali of sexually harassing her on more than one occasion. She wrote: “I have been subjected, on more than one occasion, to sexual harassment of a physical nature at the hands of a colleague from my industry: Ali Zafar […] It has been an extremely traumatic […]

SME Bank to Get Rs. 6 Billion Injection Upon Successful Privatization

SME Bank to Get Rs. 6 Billion Injection Upon Successful Privatization

By, Asghar Ali Mubarak : January, 31, 2018 Islamabad: The Minister for Privatization Daniyal Aziz has approved the opening of data room for buy-side diligence of SME Bank Limited, as the Privatization Commission (PC) continues to proceed ahead with the privatization of SME Bank Limited, while inviting qualified potential bidders to conduct due diligence of SME […]

China pledges $124 billion for new Silk Road, says open to everyone

China pledges $124 billion for new Silk Road, says open to everyone

Chinese President Xi Jinping pledged $124 billion on Sunday for his ambitious new Silk Road plan, saying everyone was welcome to join what he envisioned would be a path for peace and prosperity for the world. China has touted what it formally calls the Belt and Road initiative as a new way to boost development […]