firms

Six power firms tasked with extra recovery of Rs82b

Six power firms tasked with extra recovery of Rs82b

ISLAMABAD: The Power Division has set 100% recovery target for current electricity bills and has also given the task of recovering old receivables for financial year 2018-19 to six distribution companies.This would bring an extra Rs82.2 billion and improve liquidity of the power sector, the Power Division said in a statement issued on Friday.The decisions were […]

China temporarily waives taxes to get foreign firms to stay

China temporarily waives taxes to get foreign firms to stay

  BEIJING:China will temporarily waive income taxes for foreign companies on profits they reinvest in the country as Beijing battles to retain foreign firms and investment. The finance ministry announced Thursday the new tax policy, which will apply retroactively from January so businesses will be able to take advantage of the exemption for this year’s taxes. The […]

Some Pakistani power firms stuck in slow lane on China’s Silk Road

Some Pakistani power firms stuck in slow lane on China’s Silk Road

REUTERS A worker operates crane at copper wire unit at Pakistan Cables in Karachi.─Reuters Kamal Amjad Mian thought China’s decision to invest $36 billion in the Pakistani power sector would benefit his electricity cable business, and, anticipating increased demand, his family spent nearly $30 million on a second plant to double output. But Mian’s Fast […]

Amid Beijing’s ‘Silk Road’ splurge, Chinese firms eye Pakistan

Amid Beijing’s ‘Silk Road’ splurge, Chinese firms eye Pakistan

(Reuters) – Chinese companies are in talks to snap up more businesses and land in Pakistan after sealing two major deals in recent months, a sign of deepening ties after Beijing vowed to plough $57 billion into a new trade route across the South Asian nation. A dozen executives from some of Pakistan’s biggest firms […]