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ISLAMABAD: Pakistan has the potential to generate 50,000mw electricity from Thar coal field for 800 years while work is on to produce 100mw power from this field within next 15-18 months. This was said by Dr. Samar Mubarakmand, Member, Science & Technology, Planning Commission while addressing business community at Islamabad Chamber of Commerce & Industry. [...]
ISLAMABAD: The Economic Coordination Committee of the cabinet decided on Tuesday to end the practice of allowing subsidies on import and export of essential commodities without examining financial implications and ground realities. The ECC meeting presided over by Prime Minister Yousaf Raza Gilani took the decision while discussing a proposal to offload wheat stocks to [...]
ISLAMABAD: Oil and Gas Regulatory Authority has announced an increase in the price of petroleum products. According to the OGRA, petroleum prices are being increased due to rise in oil prices in the international market. The new increased prices will be implemented from Thursday and will remain effective for the month of April. According to [...]
ISLAMABAD: Tens of thousands of small investors, who lost more than Rs800 billion in stock market crashes over the past five years, have approached the policy board of the Securities and Exchange Commission of Pakistan for compensation and threatened to take the matter to the Supreme Court if the SECP fails to ensure justice to [...]
WASHINGTON: The former president of one of Pakistan’s major banks has given up his fight against extradition, clearing the way for his return home to face accusations that he stole $10.8 million from his bank. Hamesh Khan’s extradition is now in US Secretary of State Hillary Clinton’s hands after a federal judge in Alexandria concluded [...]
ISLAMABAD: The country has seen a massive 36.3 per cent inflation since the present government came to power in 2008, with prices of two basic commodities, wheat flour and sugar, rising by 83 and 168 per cent, respectively. According to official figures, the price of flour which was Rs16.41 per kg on Feb 21, 2008, [...]
ISLAMABAD: With its receivables rising beyond Rs105 billion, Pakistan State Oil (PSO) needs at least Rs57 billion between now and April 28 to avoid default on international payments for oil imports and ensure smooth oil supplies in the country. “We have been forced to cut down oil imports and are inviting much lower tenders than [...]
ISLAMABAD: The top guns of the PPP government have made a confession before the National Assembly Secretariat about their failure to recover a mind boggling Rs 7 billion in fines and penalties from eight powerful cartels after 50 sugar barons, 20 cement tycoons, eight banks, five cellular phone companies, energy tycoons and stock exchanges of [...]
ISLAMABAD: The Competition Commission Ordinance 2009 may lapse again because the Senate Standing Committee on Finance has refused to approve the draft of the proposed bill earlier cleared by the National Assembly’s standing committee. If the draft is not passed by the Senate committee it will have to be forwarded to another committee of parliament [...]
ISLAMABAD: Marked by over Rs93 billion higher grants for security-related spending, Pakistan’s current expenditure rose by more than 15 per cent and the budget deficit by about 62 per cent during the first half of the current fiscal year. According to provisional data on half-yearly (July-Dec) budgetary operations released by the finance ministry, the government’s [...]
ISLAMABAD: Over $400 million in reimbursement claims by Pakistan under Coalition Support Fund (CSF) for 2008 have been rejected by the United States because of new guidelines requiring ‘enhanced oversight and accountability’. Total claims for 2008 were $1.4 billion, but Pakistan got $997 million in reimbursement, whereas the remaining claims were disallowed on grounds of [...]
WASHINGTON: The Obama administration sent lawmakers a plan for $1.45 billion in aid for Pakistan this year, funding water, energy and other projects as well as a media campaign to counter extremist views. The 2010 spending plan, obtained by Reuters, was sent to lawmakers late on Thursday as part of the US administration’s obligation to [...]
WASHINGTON: US Secretary of State Hillary Clinton has urged wealthy Pakistanis to pay a larger share of taxes to reduce their country’s dependence on foreign aid. In a testimony before the Senate Foreign Relations Committee, the top US diplomat reminded rich Pakistanis that they had a duty to enable their government to fund schools and [...]
LAHORE: The City District Government, Lahore, has abandoned work on first-of-its-kind Refuse Derived Fuel (RDF) plant in the provincial capital as the majority of foreign investors have left the country due to the current wave of terrorism. Sources said the project, which was devised one-and-a-half years back, was one of the CDGL’s mega projects and [...]
KARACHI: The capital gains tax on stock trading would be levied from July 1 at 10 per cent for holding of less than six months and at 7.5 per cent where an investor retains securities beyond six months and up to a year. The tax is to be applicable on the purchase of shares after [...]
KARACHI: Pakistani Finance Minister Shaukat Tarin said on Tuesday he was stepping down to focus on his private business interests. Tarin’s resignation (as aleady reported earlier) is not expected to destabilise the government but international donors will be keen to see a respected minister appointed in his place. Prime Minister Syed Yusuf Raza Gilani accepted [...]
LAHORE: Hamara to wazir-e-khazana ja raha hay (Our finance minister is leaving), Prime Minister Gilani was caught telling former finance minister Ishaq Dar, moments before the start of Monday’s press conference after his meeting with PML-N leaders. Perhaps not realising that at least one among the array of microphones on the table in front of [...]
LAHORE: Security for Lahore Fashion Week was, inevitably, tight. The show was organized by the Pakistan Fashion Design Council and it saw the glitterati of Lahore applauding 32 designers from around the country who gathered to celebrate a glamorous event that organizers showcased as being representative of Pakistan’s rich culture, and burgeoning fashion industry. Seats [...]
TIANJIN: Chinese commuters in their millions are turning to electric bicycles — hailed as the environmentally-friendly future of personal transport in the country’s teeming cities. Up to 120 million e-bikes are estimated to be on the roads in China, making them already the top alternative to cars and public transport, according to recent figures published [...]
ISLAMABAD: The United States will begin disbursement of deferred Coalition Support Fund (CSF) payments to Pakistan next week, releasing $349 million in the first phase. US Special Envoy for Afghanistan and Pakistan Richard Holbrooke told journalists here on Thursday that the CSF money “unfortunately held back” because of accounting reasons would be partially released next [...]
15,000 Daily wage-earners’ jobs at stake as PEPCO decides to suspend supply to furnaces
Veena Malik seeks court’s help for registration of an FIR against Muhammad Asif
In mom’s wedding sari, Sania Mirza says “Nikah Kabul Hai”; it’s Sania Shoaib from now
Rehman Malik asks Shahid Malik to get Shoaib Malik’s passport back
What’s going on between Pak cricket legend Wasim Akram & Bollywood actress Sushmita Sen?
Potential to generate 50,000mw electricity from Thar coal field for 800 years
Pakistani expectations for civilian nuclear deal dampened by the United States
