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Govt to constitute HRDAC for training of unemployed youth

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ISLAMABAD: The government was planning to set up a 15-member Human Resource Development Advisory Council (HRDAC) to seek suggestions of relevant stakeholders for formulating a comprehensive strategy to train the country’s youth at par with global standards. This was disclosed by Special Assistant to Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari while talking to ... Read More »

National Savings achieves target of Rs307b by April 15

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ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved a net target of Rs307 billion by April 15 of FY 2018-19 as compared to last year’s collection of Rs112 billion. The total savings held by the CDNS stood at Rs1,666 billion by April 15, while the directorate had Rs743 billion by the same date, a year ago, a senior ... Read More »

Food exports dip 2.4pc to $3348m during first three quarters

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ISLAMABAD: The food exports from the country witnessed negative growth of 2.4 percent by going down to $3348.144 million during the first three quarters of the ongoing fiscal year compared to the exports of $3430.346 billion during the corresponding period of fiscal year 2017-18, Pakistan Bureau of Statistics (PBS) reported on Monday. The food commodities that contributed in negative growth ... Read More »

PFC presents proposals for boosting furniture export

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ISLAMABAD: Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Saturday, on behalf of furniture producers, presented a set of proposals for upcoming  Federal Budget 2019-20 to Advisor to Prime Minister Abdul Razak Dawood. The PFC demanded allocation of special chunk of funds to boost furniture exports, besides giving the sector the status of a full-fledged industry. Mian Kashif Ashfaq ... Read More »

Clean, Green Pakistan mandatory to promote tourism: Zartaj Gul

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ISLAMABAD: Minister of State for Climate Change Zartaj Gul said Clean and Green Pakistan was imperative to promote tourism in the country. It was a campaign to bring behavioral changes in the country and raise awareness among the masses for keeping the environment neat and clean, she said. She expressed these views during a cleanliness drive at Margalla Hills National ... Read More »

Indus Motor raises prices of various models from April 20

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KARACHI: Indus Motor Company (IMC) has raised prices of various models by Rs65,000-307,000 effective from April 20. After the hike, the new rates of Toyota Corolla XLI, XLI AT, GLI and GLI AT will be Rs2.109 million, Rs2.184m, Rs2.364m and Rs2.439m, respectively – each higher by Rs65,000. Meanwhile, the price of Altis 1.6 has gone up by Rs100,000 to Rs2.674m, ... Read More »

ML-1 project to create 150,000 job opportunities: Sheikh Rasheed

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BEIJING: Railways Minister Sheikh Rasheed said on Saturday that the Main Line – One (ML-I) project will help in creating job opportunities in the country and a preliminary agreement between Pakistan and China will be signed during the upcoming visit of Prime Minister Imran Khan to Beijing., Radio Pakistan reported. The minister said that the project will provide 150,000 job ... Read More »

Ghulam Sarwar Khan accepts to take charge as aviation minister

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ISLAMABAD: Ghulam Sarwar Khan has accepted Prime Minister Imran Khan’s decision to change his ministry as part of the federal cabinet reshuffle, sources said on Saturday. Ghulam Sarwar will take charge as aviation minister on Monday or Tuesday, the sources said. “After two holidays, I will go the aviation ministry and start work,” the sources quoted the federal minister as ... Read More »

Oil reserves discovered near Gujar Khan

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GUJAR KHAN: Mari Petroleum Company Limited (MPCL) has made an oil discovery near Gujar Khan in Rawalpindi, Radio Pakistan reported. According to the spokesperson of the company, it is the second consecutive discovery in Ghauri Block, which is expected to provide 372 barrels of crude oil on a daily basis. The spokesperson added that the latest discovery will help the ... Read More »

Pakistan, China to sign initial design of ML-1 during upcoming visit of PM: Sheikh Rasheed

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ISLAMABAD: Federal Minister for Railway Sheikh Rasheed Ahmed has said that Pakistan and China will sign the preliminary design of ML-1 project during the upcoming visit of Prime Minister Imran Khan to Beijing. He expressed these views while talking to Huang Chuping, Vice-Governor of Chinese province Hubei. He said the completion of Peshawar to Karachi MainLine 1 project will revolutionize ... Read More »

Foreign exchange reserves fall to $16.19b on sovereign bond repayment

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KARACHI: The foreign exchange reserves of the country fell by $1.03 billion during a week owing to huge repayment made against Pakistan Sovereign Bond. The total foreign exchange reserves of the country fell to $16.196 billion by week ended April 12, 2019 as against the reserves level of $17.228 billion a week ago, State Bank of Pakistan (SBP) said on ... Read More »

Promotion of women entrepreneurship must to reduce poverty: Shamshad Akhtar

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ISLAMABAD:  Ex-State Bank of Pakistan governor and Karandaaz Board Chairperson Dr Shamshad Akhtar said on Thursday that promotion of women entrepreneurship is the only way forward to reduce poverty and bring prosperity in the country. She said Pakistani women today are more likely to participate in the labour force and the decision-making process than their mothers and grandmothers. “Promotion of ... Read More »

SC orders completion of Orange Line Metro Train project by May 20

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ISLAMABAD: The Supreme Court on Friday ordered three construction companies involved in the Lahore Orange Line Metro Train Project to submit guarantees of Rs10 million each, warning them that if the project wasn’t completed by May 20, the court take possession of their guarantees. A two-member bench of the apex court headed by Justice Gulzar Ahmed expressed displeasure over the ... Read More »

Current account deficit narrows by 29.44pc during first nine months

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KARACHI: Pakistan’s current account deficit narrowed by 29.44 percent during first nine-months (July-March) of current fiscal year owing to falling imports and improved foreign remittances. The current account deficit narrowed to $9.58 billion during first nine months of current fiscal year as compared with deficit of $13.589 billion in the corresponding period of the last fiscal year, according to Balance ... Read More »

FDI falls by 51.4pc during nine months of current FY

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KARACHI: The foreign direct investment (FDI) has declined by 51.4 percent to $1.27 billion during first nine months of current fiscal year as compared with $2.6 billion in the corresponding period of the last fiscal year, according to statistics issued by State Bank of Pakistan (SBP) on Thursday. The inflows of FDI fell by 20.9 percent to $2.51 billion during ... Read More »

CCOE directs to ensure smooth power supply during Sehri & Iftar timings

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ISLAMABAD: Outgoing Finance Minister Asad Umer presided over a meeting of Cabinet Committee on Energy (CCOE) today. The committee decided that there would be no load shedding during Sehri and Iftar in Ramazan and directed the Power Division to ensure uninterrupted supply of power in this regard. CCOE expressed concern over complaints of longer duration of load shedding in rural ... Read More »

Govt to introduce Treasury Single Account to shifts deposits with SBP

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KARACHI: The government is examining a proposal to introduce the Treasury Single Account (TSA) to shift deposits of various government departments and organisations with the State Bank of Pakistan (SBP). “While the proposal to introduce TSA is being examined by the Government of Pakistan in consultation with the SBP as part of its agenda to reform public financial management, however, ... Read More »

PPMA decides to slash prices of 395 essential medicines

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KARACHI: Pakistan Pharmaceutical Manufacturers’ Association (PPMA) announced to decrease the prices of 395 essential medicines. The prices of essential medicines were earlier reduced by the Drug Regulatory Authority of Pakistan (DRAP) but the pharmaceutical industry had refrained from implementing the authority’s decision. “Today, we announce to reduce the prices of 395 essential medicines from one per cent to 471pc. Within ... Read More »

Seminar at Sargodha University highlights importance of Chinese Studies in Pakistan

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SARGODHA: Pakistan Institute of China Studies (PICS) at Sargodha University organized an In-house Seminar on developing China Studies at Sargodha University. Besides the Vice Chancellor, Dr Ishtiaq Ahmed, Dr Fazalur Rahman, Director PICS and senior faculty members attended the seminar. The Chinese participants included heads of Confucius Institutes – Prof Liu Chensheng, Punjab University, Dr Zhou Changming, University of Agriculture, ... Read More »

ECC directs USC to expedite procurement of essential consumer items during Ramazan

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ISLAMABAD: The meeting of the Economic Coordination Committee (ECC) of the Cabinet was held here today with Finance Minister, Asad Umar, in the chair. The committee reviewed proposals of various ministries/divisions. The committee also considered and approved various demands of division ministries for supplementary and technical supplementary grants. Industries and Production Division gave a presentation to update the committee about ... Read More »