Karachi, May 06, 2020: The government has reported a fiscal deficit of 3.8% of GDP (or Rs1.7trn) in 9MFY20 compared to a fiscal deficit of 5.0% of GDP (Rs1.9trn) in 9MFY19. Importantly, the primary balance during the period clocked in at 0.4% of GDP or Rs194bn (last year was -1.2% of GDP or -Rs463bn), close…
Karachi, May 06, 2020: Cement despatches in the country have declined in April 2020 by 23.65 percent to 3.52 million tons from 4.61 million tons in April 2019 as both exports and domestic markets crashed, owing to the devastating impact of COVID-19. According to a statement issued by All Pakistan Cement Manufacturers’ Association (APCMA), the…
Karachi, May 06, 2020: Ministry of Finance and State Bank of Pakistan introduce risk-sharing mechanism to support bank lending to SMEs and small businesses to avail SBP’s Refinance Facility to Support Employment. Taking cognizance of the SMEs finding difficulties in arranging adequate collateral and banks’ risk averseness in taking exposures for such lending under the…
These may be uncertain times for the travel industry but that hasn’t deterred Pakistan International Airlines (PIA) from making Amadeus its mainstay long-term partner in travel distribution. Karachi, May 06, 2020: Pakistan International Airlines (PIA) has reached a landmark agreement in distribution with Amadeus, giving PIA full access to Amadeus’ global travel seller network. Through…
Quratulain Y Azher Karachi, May 06, 2020: The management of the world’s biggest App-based taxi service, Uber, has announced to fire 3,700 employees and permanently close 180 driver service centers as part of the of cost-cutting measures in the wake of coronavirus pandemic that suspended its services in different operating countries. The reductions will affect…