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PDWP approves four uplift projects worth Rs12.274 billion
LAHORE: The Punjab Provincial Development Working Party (PDWP) on Tuesday approved execution of four development schemes of various sectors with an estimated cost of Rs12.274 billion. –IQTIDAR GILANI
Global Building Material to invest $50 million in Pakistan
LAHORE: Chinese internet-based B2B platform Global Building Material (GBM) has announced plans to invest $50 million in Pakistan. –IQTIDAR GILANI
SBP again increases key policy rate by 100bps to 9.75%
KARACHI: As per the market expectations, the State Bank of Pakistan (SBP) on Tuesday increased the key policy rate by 100 basis points to 9.75 per cent. –SHAHNAWAZ AKHTER
ADB predicts higher inflation in Pakistan; revises down developing Asia’s growth outlook
ISLAMABAD: The Asian Development Bank (ADB) on Tuesday projected higher inflation in Pakistan, compared with other regional countries and revised down the economic growth outlook for developing Asia slightly to 7 per cent this year and 5.3 per cent next year. –HAMZA HABIB
SECP probe: 11 firms get stay orders from courts
LAHORE: The 11 companies who are facing 12 Securities and Exchange Commission of Pakistan (SECP) cases, are hiding behind stay orders in the honourable Sindh and Islamabad high courts where they are raising newly extended SECP chairman Aamir Khan’s under performance in legal battles, BOL News has learnt. –HASSAN NAQVI
Smeda urged to pursue Commerce Ministry for lifting ban on Khaskhas, jaggery
KARACHI: The Union of Small and Medium Enterprises (Unisame) has requested Small and Medium Enterprises Development Authority (Smeda) chief executive officer Hashim Raza to pursue the Ministry of Commerce accept Smeda’s recommendations and allow export of Khashkhas and jaggery to global buyers, a statement said on Tuesday. –DESK
ADB approves $200 million loan to upgrade irrigation system in Punjab
ISLAMABAD: The Asian Development Bank (ADB) on Tuesday approved a $200 million loan for the development of an irrigation system in Punjab that will help increase agricultural productivity and enhance food security. –HAMZA Habib
Fertiliser sector urges govt to take action against hoarders, smugglers
ISLAMABAD: The fertiliser sector has said that it is not responsible for the shortage in the country, as it had already sold 11 per cent more fertiliser, compared with the last year. –HAMZA HABIB
Fatima Fertilizer earns global recognition
KARACHI: Fatima Fertilizer became the first company within the global fertiliser industry to have clocked 60,220,000 safe man-hours, which is the highest accomplishment within the global fertiliser industry, a statement said. –JAVED MIRZA
Site industrialists condemn gas suspension
KARACHI: Site Association of Industries (SAI) president Abdul Rasheed rejected the Sui Southern Gas Company’s (SSGC) imprudent decision to suspend gas supply to all non-export general industries and demanded the gas utility to carry out staggered gas holidays along with better load management, which would help the non-export general industries to continue to run according to the prescribed schedule, a statement said. –SHAHNAWAZ AKHTER
FPCCI expresses surprise over purchase of LNG at inflated rates
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Nasser Hyatt Maggo has expressed astonishment at the purchase of liquefied natural gas (LNG) at the rate of $30.6/MMBTU and said that this rate will destroy the fuel supply safety and foreign exchange reserves of the country, a statement said. –LATIFUR REHMAN
Rupee ends flat against dollar
KARACHI: The rupee ended flat against the dollar on Tuesday ahead of the monetary policy announcement scheduled for today, December 14, 2021, dealers said. –SHAHNAWAZ AKHTER
Pakistan bourse remains bullish; KSE-100 Index gains 370 points
KARACHI: The Pakistan equity market after moving both ways managed to close in the green zone, as the stock market participants were anticipating a lower-than-expected hike in the policy rate, dealers said. –JAVED MIRZA
NUTECH to set up campus in Karachi
KARACHI: Pro-Rector of the National University of Technology (NUTECH) Maj Gen Khalid Jawed expressed the determination and resolve to set up NUTECH campus in Karachi, a statement said. –LATIFUR REHMAN
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