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  • Country to witness 8-hour power outages

    November 21, 2013 2:46 AM 31

    ISLAMABAD - Owing to annual canal closure and proposed natural gas supply suspension to power sector in December and January, Water and Power Ministry to limit power load shedding up to 8-hour per day during said two months has sought Rs25 billion from the government. sources well aware of the development told TheNation that the ministry, owing to so far estimated

  • Govt to rationalise fee being taken from PSEs Boards

    November 21, 2013 1:43 AM 31

    ISLAMABAD - Finance Minister Senator Mohammad Ishaq Dar has decided to rationalise the fee of government servants nominated by the government on Boards of various Public Sector Enterprises (PSEs) and Corporate Entities. The Finance Minster has decided that such government servants nominated by the government will only be permitted to retain an amount

  • Imported urea: Price body to compare cost with neighbouring countries

    November 21, 2013 1:43 AM 36

    Food minist­ry to frame policy to ensure smooth supply of food items. ISLAMABAD: The National Price Monitoring Committee has decided to constitute a committee that will examine the difference between cost of imported urea and di-ammonium phosphate in Pakistan and neighbouring countries and will present a report in the next meeting. This was decided in a meeting

  • Govt urged to complete Pak-Iran pipeline: Industrial, Traders association

    November 20, 2013 11:16 PM 27

    PIAF chairm­an says indust­rial proces­s has ground to a halt due to shorta­ge of gas. LAHORE: The Pakistan-Iran Gas Pipeline Project should be completed on priority as it is the lifeline for Pakistan economy and energy sector in view of fast increasing energy consumption in the country, a consortium of industrialists and traders urged the Pakistan government

  • Gas outages: Textile industry fears losing export orders

    November 20, 2013 8:49 PM 37

    Oppose­s suspen­sion of gas supply for three months. FAISALABAD: Textile exporters have expressed their fear that Pakistan could lose export orders worth billions of dollars, stressing that a large number of people will be left unemployed if the government stops gas supply to the industry for three months in the winter. They asked the government to avoid

  • Demurrage on cargo stuck during strike waived

    November 20, 2013 8:31 PM 42

    Govern­ment plans to pull Pakist­an Railwa­ys out of crisis. The Ministry of Ports and Shipping has waived the demurrage imposed on cargo during the recent 11-day strike staged by goods transporters in an attempt to ease the hardships faced by the business community. Federal Minister for Ports and Shipping Kamran Michael announced this at the Karachi

  • New deal: PIA raises fresh capital

    November 20, 2013 8:22 PM 53

    Sharia­h compli­ant financ­ing facili­ty introd­uced. This innovative Islamic transaction is secured by PIA’s ticket sales generated in the Kingdom of Saudi Arabia and accumulated through international air transport association’s billing and settlement plan. ISLAMABAD: The Pakistan International Airlines Corporation (PIA) has penned a deal that involves

  • Financial markets: Standard Chartered gives thumbs-up to Pakistan

    November 20, 2013 8:21 PM 51

    Region­al manage­ment says operat­ions in Pakist­an are still profit­able and attrac­tive. In a roundtable conference with a select group of journalists on Wednesday, Standard Chartered PLC Chairman Sir John Peace, Standard Chartered Regional Chief Executive Officer, Middle East, North Africa and Pakistan Christos Papadopoulos, and Standard Chartered

  • One step closer: ADB selected transaction adviser on TAPI pipeline

    November 20, 2013 8:19 PM 30

    Partic­ipatin­g countr­ies to set up jointl­y-owned pipeli­ne compan­y . The Asian Development Bank (ADB) has been appointed transaction advisor to help attract a commercial consortium leaders to build, own and operate the planned 1,800 kilometre Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline. An ADB statement stated that, under

  • Pakistan Exports 882,132 Tons of Rice in July – October 2013, Up 24% from Last Year

    November 20, 2013 5:31 PM 41

    Pakistan has exported around 882,132 tons of rice in the first four months of the fiscal year 2013-14 (July – June), up about 24% from around 711,393 tons exported during the same period in FY 2012-13, according to provisional data from the Pakistan Bureau of Statistics (PBS). Most of the increase is due to a surge in non-basmati rice exports which have increased