Banking sector investments surge by Rs2 trillion: SBP
KARACHI: The investments of the banking sector, amid weaker demand for advances and abundant liquidity, surged by Rs2 trillion during the first half (H1) of Calendar Year 2020, State Bank of Pakistan (SBP) reported. According to Mid-Year Performance Review of
Citizen robbed of Rs1.5 million in Islamabad Sector I-8
ISLAMABAD: A citizen was robbed of Rs1.5 million in Sector I-8 area of Islamabad. The citizen named Athar Ejaz has deposited Rs400,000 at a bank and was heading towards another bank on foot. He was suddenly intercepted by three robbers
Huawei agrees to support IT sector in Pakistan
ISLAMABAD: Chinese multinational technology company Huawei has agreed to work with the Ministry of Information Technology to support the local IT sector in Pakistan. Federal Secretary Ministry of IT & Telecom Shoaib Ahmad Siddiqui chaired a meeting between Ministry of
Reforming tourism sector
World Tourism and Travel Council (2018) denoted that Pakistan’s tourism industry has the potential to reach $39.8 billion in a decade. The present government has already vowed to promote Pakistan as ‘Asia’s Best Kept Secret’ in the global tourism market.
PM forms high-level committee on housing, construction
ISLAMABAD: Prime Minister Imran Khan has constituted the National Coordination Committee on Housing, Construction and Development. The objective of the committee is to coordinate and facilitate the government’s policy of promoting construction and development related activities, especially affordable housing projects
A disappointing budget
The nation had huge expectations from the federal budget 2020-21 particularly the business community that was hoping that the government will provide significant financial relief but were disappointed after the budget was presented. The textile, leather, agriculture and construction sector
Textile industry rejects ‘one-sided, unrealistic’ budget
FAISALABAD: The textile industry has expressed disappointment over the lack of relief provided in the budget as the situation could worsen amid a severe liquidity crunch and shrinking business. In a post-budget statement, Pakistan Hosiery Manufacturers & Exporters Association (PHMA)
Reviving construction industry
Since independence, the construction industry has not been given much importance in the country. However, Prime Minister Imran Khan is the first ruler in the country’s history to give the construction sector the status of an industry. The construction industry
Agriculture sector grew by 2.67% in 2019-20: Economic Survey
ISLAMABAD: The coronavirus outbreak has adversely impacted the national economy and the performance of all major sectors remained dismal during the outgoing fiscal year 2019-20. During the period under review, the agriculture sector recorded a growth of 2.67 percent considerably
Ali Zaidi, Japanese envoy discuss development at Korangi harbour
ISLAMABAD: Federal Minister for Maritime Affairs Ali Haider Zaidi on Thursday discussed development projects for Korangi Fish Harbour with Japanese envoy. The minister met with Japanese Ambassador to Pakistan Kuninori Matsuda and economic and development counsellor Tokita Yuji and emphasised
Construction sector relief
The construction sector is often considered as the spinal cord of a nation’s economy. Whenever tragedy strikes a nation, a crisis develops, or there is an economic crunch, or even if the government is providing any relief measures, the construction
Govt focused on reviving sick industrial units, promoting SMEs
ISLAMABAD: A delegation of prominent bankers of the country called on Prime Minister Imran Khan in Islamabad and discussed a range of issues relating to the banking and financial sector. Adviser to PM on Finance Dr Abdul Hafeez Shaikh, Adviser
Moody’s maintains stable outlook for Pakistan’s banking sector
ISLAMABAD: Global ratings agency Moody’s Investors Service stated that Pakistan’s banking system would have a stable outlook for the next 12-18 months due to robust funding and liquidity and close links with the sovereign underpin. “The sovereign credit profile has
PM vows to provide facilities to promote construction sector
ISLAMABAD: Prime Minister Imran Khan on Wednesday expressed the government’s determination to provide all out facilities to the promotion of construction sector in the country. Th prime minister, while chairing a meeting in connection with promotion of construction sector, said