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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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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