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August 1, 2018 1:07 PM British high commissioner meets Imran Khan, congratulates him over election victory

British High Commissioner to Pakistan Thomas Drew on Wednesday called on prime minister-designate Imran Khan at his Banigala residence. The British envoy and his delegation congratulated Khan over his party's victory in the 2018 general elections, a statement issued by the party said. "The PTI chairman's address to the nation has left a very positive 6

July 21, 2018 12:00 AM PIAF demands currency crash probe

LAHORE: A massive rupee devaluation of over 21 percent against dollar during the last six months demands an immediate high-level probe to find out what caused this currency disaster, industry officials said on Friday. “The State Bank of Pakistan is urged to identify the reasons and share the findings with the business community,” Irfan Iqbal Sheikh 4

July 19, 2018 12:00 AM LSM growth clocks in at 2.76 percent in May

KARACHI: Large scale manufacturing (LSM) grew 2.76 percent in May as compared to the corresponding month a year earlier as retail sector thrived on growing consumer demand, while construction boom kept fuelling steel production, official data showed on Wednesday. Pakistan Bureau of Statistics (PBS) data showed that food, beverages and tobacco production 3

July 18, 2018 12:00 AM FPCCI’s achievement awards on 20th

Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will hold its 6th FPCCI Achievement Awards Ceremony to recognise the services of organisations in different sectors on Friday, July 20, 2018 at the Governor House. President Mamnoon Hussain will be the chief guest as the awards ceremony and will distribute awards to the recipients 6

July 17, 2018 12:00 AM Malaysia sets sights on CPEC

KARACHI: Malaysia sees China-Pakistan Economic Corridor as a big opportunity for South Asia region, especially for Pakistan and can partner with Pakistan in potential projects in various sectors, if invited, an envoy said on Monday. “… Malaysia wants to increase bilateral trade with Pakistan, which was currently standing at around $1.34 billion and was in favour 2

July 12, 2018 12:00 AM Bahrain’s economy shrinks in Q1 as oil production sags

DUBAI: Bahrain´s economy shrank on an annual basis in the first quarter of 2018 for the first time in at least seven years, hit by a fall in oil production, data from the official statistics agency showed on Wednesday. The figures may increase concern about the health of Bahrain´s economy as it struggles with a current account gap and a large state budget 5

July 8, 2018 12:00 AM Punjab minister donates Rs20m for Multan agri varsity

MULTAN: The caretaker Punjab Minister for Food and Agriculture Sardar Tanveer Ilyas Khan has announced a donation of Rs20 million from his own pocket for the Multan Agriculture University. The caretaker minister who himself is a leading businessman of the country made the announcement during his visit to the university, says a press release. Sardar Tanveer 2

July 8, 2018 12:00 AM Placing Pakistan on grey list not to affect economy: Pak envoy

WASHINGTON: Pakistan Ambassador to US Ali Jahangir Siddiqui has said inclusion of Pakistan in grey list will make no difference for national economy hoping Pakistan will come out of grey list within 15 months. Placement of Pakistan in grey list of Paris based Financial Action Task Force (FATF) will make no difference on national economy. It is expected 6

July 3, 2018 12:00 AM Allottees demand early possession of I-12 plots in Islamabad

Islamabad: The allottees of plots in sector I-12 have complained that the Capital Development Authority has failed to formally hand over the land possession documents to them after the passage of over 30 years. They sought the intervention of the Supreme Court chief justice for their relief. During a meeting here, the allottees expressed concern about 4

July 3, 2018 12:00 AM RLNG enables Pakistan to save $2-3 billion on power generation

ISLAMABAD: With the import of LNG, Pakistan has so far benefited by $2-3 billion through replacing furnace oil and diesel with imported gas as fuel for power generation. At present LNG of 1-1.2 billion cubic feet per day is being injected into Pakistan’s economy which is playing a pivotal role in catering to the various sectors of the economy. Top sources 3