Thursday , 14 December 2017
Breaking News

Economy

Solar goes mainstream in Pakistan

Crystal clear warning signs for Pakistan

The government of Sindh in Pakistan plans to launch an auction for the development of 50MW of solar PV in the Province, with support from the World Bank. A formal procurement process is set for Q2 2018 and this will be followed by many subsequent renewable energy auctions in Sindh. The National Electric Power Regulatory Authority (NEPRA) first enabled such …

Read More »

The Failing tax System

The Failing tax System

THE deadline for the annual filing of income tax returns has now been extended till mid-December and unsurprisingly so. The repeatedly changing deadlines make a mockery of the taxman’s writ — so frequently compromised in recent years with extension after extension of annual tax deadlines. This pattern has come at the cost of severely weakening a cornerstone of our economic …

Read More »

Airline fuel crisis in the making

The oil industry has raised the red flag over imminent closure of local refineries and related inability of the oil companies to provide enough fuels for smooth operations of aviation and security aircraft. In an “SOS-Rush to Desk” to the petroleum division, the Oil Companies Advisory Council (OCAC) — an umbrella body of around three dozen refineries and oil marketing …

Read More »

CPEC hiccups as China reviews changes

CPEC is definitely NOT a "Game Over"

China has halted the release of funds for three projects under the China-Pakistan Economic Corridor (CPEC) till the revision of its ‘financial mechanism’ by Beijing, Minister for Planning and Develop­ment Ahsan Iqbal confirmed on Monday. According to an official press release issued by National Assembly Secretariat, the minister informed the 25th parliamentary committee meeting on CPEC that the Chinese side was …

Read More »

Crystal clear warning signs for Pakistan

Crystal clear warning signs for Pakistan

Jihadism has been radiating out of Pakistan for decades and causing problems for the country’s relationships with other governments. Lately, however, it’s been Pakistan itself that is suffering from its homegrown Islamism. The country was founded on a contradiction between secularism and Islamism, and though it has covered up its incoherence, it has never overcome it. The contradiction is finally …

Read More »

Bitcoin is quite a bit useless

Steam, a popular platform for buying video games, announced on Wednesday that it will no longer be accepting payment in the form of bitcoin because of the volatility of its worth and transaction fees. Valve, the company that owns Steam, noted the value for Bitcoin only stays stable for a certain period of time and can change before a transaction has been completed. …

Read More »

Pakistan needs a true leader to make CPEC work

The Pakistani economy is going through a ‘Creative Destruction’ of sorts. Firms without value addition, global market connectivity and innovation are dying a ‘peaceful death’ or re-locating. Unemployment level remains high. The official data are not credible. There is a lack of implementation machinery for facilitating Chinese private sector’s MoUs, deals, contracts and agreements. Only big ticket projects by state-owned …

Read More »

Punjab Govt encourages sunflower farming

The Punjab government has formulated a comprehensive plan for the promotion of sunflower and other oil seed crops in the province. Under the programme, sunflower crop would be cultivated on more than 0.2 million acres of land in different areas of the province. Officials in agriculture department said on Tuesday that the step was being taken to produce maximum edible …

Read More »

Pakistan’s LNG terminal saving $1.2 billion per year

Pakistan's LNG terminal saving $1.2 billion per year

Pakistan’s first Liquefied Natural Gas (LNG) energy terminal has received 120 shipments and injected 7.4 million tonnes LNG in the national transmission network since start of its operations, saving $1.2 billion per year in the national kitty. “Established by Engro Pakistan, the plant was completed in a record 330 days and succeeded in transferring 120 LNG ships at the terminal …

Read More »

State Bank: New security regulations for ATMs, payment cards

To safeguard depositors from fraudulent transactions, the State Bank of Pakistan (SBP) said that it has issued specific regulations for the security of payment cards and internet banking, under which banks are required to develop and implement comprehensive framework for risk assessment, implementation of controls and monitoring. In a statement, the SBP said that debit cards with a magnetic strip …

Read More »