Government decides not to privatize Pakistan Steel Mills

Economic Coordination Committee (ECC) during its meeting on Saturday decided not to privatize Pakistan Steel Mills (PSM). After careful consideration the committee decided to inject fresh capital of Rs.2.9 billion into the largest industrial [...]

Plan9 offers help to Pakistani tech startups

The usual perception is that a public entity is inefficient and unproductive. But Plan9 defies that perception as a government funded technology incubator located at the heart of Lahore. A startup company once accepted by the incubator gets [...]

Pakistan accepts IMF conditions to secure $6.7 billion loan

Government of Pakistan took a sigh of relief when IMF Board of Directors approved a new $6.7billion loan facility. This will provide government a breathing space to meet its financial obligations. The foreign exchange reserves had fallen dangerously [...]

Report: Prime Minister meeting with businessmen in Karachi by Majyd Aziz

Preamble: On the night of September 02, 2013, the Karachi Chamber of Commerce and Industry President, Haroon Agar, informed me at the Indonesian National Day Reception that I should reach the Sindh Governor House the next day at 6:30 pm for [...]

3G auction ruling welcomed by telecom industry

Supreme Court on Monday instructed the federal government to appoint members and chairman of Pakistan Telecommunication Authority (PTA) within 10 days. It also instructed the government to complete the auction of 3G licenses within 60 days. According [...]

Security of Chinese will be important to build economic corridor

A high level Chinese delegation led by Zhang Xiaoqiang, Deputy of National Development and Reform Commission (NDRC) visited Pakistan to discuss progress on creation of trade corridor between China and Pakistan. One of the delegates Li Wei, director [...]

Iran-Pakistan pipeline expected to complete by 2015: Shahid Khaqan Abbasi

Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi informed the national assembly that Iran-Pakistan gas pipeline is expected to start production from Jan 2015. He was answering a question during the session of the parliament. He [...]

Change of fortune – large shale oil reserves found in Pakistan

According to the Energy Information Administration (EIA), a US government agency, there are large deposits of oil and gas in the Thar area of Pakistan. The report suggest that the shale gas reserves are around 105 trillion cubic feet while the [...]

Tax reforms produce good results

Tax reforms introduced by the PML N government have started showing good results according to the Ministry of Finance officials. In July the tax collection has increased by 134 billion rupees due to the rise in sales tax from 16% to 17%. Government [...]

Afghan Finance Minister due in Islamabad on Sunday

Afghan Finance Minister Hazrat Omer Zakhilwal is arriving in Islamabad today to meet with Pakistan’s Finance Minister to discuss economic agenda before the arrival of Afghan President in Islamabad on Monday. Afghan-Pakistan has a transit trade [...]