Thursday , 17 January 2019

Economy

PIA ready for structural revamp, according to Minister for Aviation

PIA all set for structural revamp, NA told Airline to play only Naats during flights The Pakistan International Airline is all set for a structural revamping, National Assembly was told on Wednesday. Minister for Aviation Division Muhammad Mian Soomro in his reply said that PIA is in process of finalising its Strategic Business Plan 2019-22 which will be submitted to …

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Chinese investment in Sri Lanka: Debt trap or technological marvel?)

The first stage of China’s biggest investment project in Sri Lanka – a port city intended to become an Asian financial hub – is ending. It is a controversial construction that the government describes as a technological marvel, but critics say it is part of a crippling debt trap. Al Jazeera’s Minelle Fernandez reports from Colombo.

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Qatar interested in investing in Gwadar and being part of CPEC

Qatar has expressed interest in the China-Pakistan Economic Corridor and has shown willingness to invest in the deepsea port of Gwadar, reported Express News on Wednesday. Qatar plans to invest in food storage facilities that will be established at the port in Gwadar. The investment will also help develop the region and the local economy. Prime Minister Imran Khan is scheduled to leave on …

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Chief Justice sees government as not serious about building dams

Govt not serious in building dam, top judge tells finance minister Chief Justice of Pakistan Mian Saqib Nisar expressed concerns over the government’s commitment to the construction of the Naj Gaj Dam and its earnestness to resolve the country’s water crisis. During an exchange with Finance Minister Asad Umar on Tuesday while hearing a case, the chief justice remarked that …

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KSA unveils huge oil reserves that will last decades

Saudi Arabia has finally silenced its peak-oil critics and simultaneously revived interest in its stalled US$2 trillion plan for a stock market float of state-owned producer Aramco. The kingdom revealed last week it has enough crude to pump at current rates for at least another 70 years.At the end of 2017, Saudi oil reserves stood at an eye-watering 268 billion …

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new wave of entrepreneurship hits Balochistan

New hopes of entrepreneurship arise in Balochistan As peace is returning to Balochistan, a new wave of entrepreneurship is emerging. The wave is certainly nascent but it does give hope about the future of the deprived region. A recent visit to the Quetta Chamber of Commerce and Industry (QCCI) and the recently established National Incubation Centre (NIC) Quetta was eye …

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PTI shelves major CPEC power project

Govt puts major CPEC power project on hold The Pakistan Tehreek-i-Insaf (PTI) government has decided to shelve a major power project pushed by the Pakistan Muslim League-Nawaz regime under the China-Pakistan Economic Corridor (CPEC) and will axe hundreds of other schemes under the Public Sector Development Programme (PSDP) later this month. Background discussions with government officials suggest that Islamabad has …

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Debt and reserves major challenges for PTI Govt

Debt and reserves major challenges for PTI Govt

Moody’s – one of the three main global credit rating agencies –anticipates that Pakistan would continue to fight tough against larger economic challenges such as repaying mounting foreign debt amid rapidly declining foreign currency reserves during 2019. The US-based rating agency said Pakistan would have to repay foreign debt amounting to over 160 per cent of its foreign currency reserves …

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No possibility of default – Asad Umar

No possibility of default - Asad Umar

Finance Minis­ter Asad Umar has ruled out the possibility that the country may default on repayment of debt and claimed that due to some important decisions being taken by the government to strengthen the economy, Pakistan is better placed to negotiate with the International Monetary Fund. Talking to anchorpersons here on Thursday, he said the country was not solely relying …

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