Business
Issuance of PKR 200 bn Pakistan Energy Sukuk II concluded
Islamic finance delivers another milestone transaction for Pakistan in difficult times Karachi, June 09, 2020: Meezan Bank, Pakistan’s first and largest Islamic bank has played a leading role in successfully concluding the issuance of Pakistan Energy Sukuk (PES) II worth approximately PKR 200 billion by Power Holding Limited (PHL), a public sector entity fully owned…
Pakistan seeks to defer $7.7 bln foreign loans due to COVID-19
Islamabad, June 9, 2020: Pakistan is looking for its brotherly countries to defer payment against loans of nearly $7.7 billion in the challenging economic times of COVID-19. In an interview Dr Hafeez Shaikh, Advisor to PM on Finance said, “We are in talks with our development partners to move these deposits towards longer tenors.” Loans…
Tax Rationalization to encourage new investment in various sectors
Karachi, June 09, 2020: The government is working to rationalize the taxes to encourage new investments with focus on reviving labor intensive sectors of the economy including construction, housing and agriculture related industries. The government assured the masses and the business community for not introducing any new tax in the next budget due to economic…
EFP seeks 40pc gas price cut for industries
Karachi, June 08, 2020: Ismail Suttar, President of the Apex Body of Manufacturers, The Employers Federation of Pakistan (EFP), has recommended a 40 percent reduction in gas price earlier this week. After careful deliberation, he stated that the gas price in the current economic landscape of Pakistan with COVID situation and beyond is nothing less…
No load shedding in industries during summer
KE plans to meet demand & supply requirements Karachi, June 08, 2020: High official’s delegation from K-Electric, led by Director External Affairs Asmer Naeem, visited SITE Association of Industry, and had meeting with office bearers of the Association to discuss issues related to KE as well as KE plans for summer to meet demand &…