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UBL says to establish wholly-owned EC
Karachi: Board of Directors of United Bank Limited (UBL) announced it will establish an Exchange Company (EC) as wholly-owned subsidiary of Bank. Development was shared by UBL in notice to Pakistan Stock Exchange. Board of UBL in meeting approved "Es...
Govt now accords priority to economic diplomacy: Majyd Aziz
KARACHI: Majyd Aziz President Global Compact Network Pakistan (GCNP) said that Pakistan is now giving high priority to economic diplomacy and in recent times, this process has been amplified with formation of Special Investment Facilitation Council....
WB, Pakistan discuss how to get $2bn funds released
ISLAMABAD: World Bank has reportedly stressed need for collaborative efforts to ensure disbursement of $ 2 billion during current fiscal year. Amount to be disbursed in programme and project loans, according to sources, has been made conditional to a...
Nepra approves Rs1.46 per unit hike in power tariff
ISLAMABAD: National Electric Power Regulatory Authority (Nepra) notified an increase of Rs 1.46 per unit in electricity prices on account of fuel charges adjustment (FCA) for month of July 2023. Regulatory authority announced decision on petition fil...
Government to reduce regulatory permissions: Minister Dagha
KARACHI: Younus Dagha caretaker Sindh Minister of Finance, Revenue and Planning said there are 245 regulatory permissions prevalent in Sindh. These have created immense problems for citizens for long time. Government has prepared strategy to r...
Speakers for expanding trade ties between Pakistan, Egypt
ISLAMABAD: Speakers at conference held in Cairo, Egypt have stressed for expanding trade ties and boosting cooperating in various sectors between Pakistan and Egypt. Embassy of Pakistan in collaboration with Rawalpindi Chamber of Commerce and Indust...
IMF 'approves' Rs15bn relief in electricity bills
ISLAMABAD: In significant development, International Monetary Fund (IMF) has given green light to relief plan of Rs 15 billion which aimed to give financial relief to electricity consumers in Pakistan. International Monetary Fund has approved provisi...
Govt announces closure of markets at sunset
Islamabad: Caretaker government has ordered measures to conserve energy, including closing all malls and markets at sunset to mitigate effects of energy crisis. Sources privy to development told that implementation of current energy conservation plan...
'Fake news': Information Ministry says no ban on Rs5,000 note
ISLAMABAD: Ministry of Information and Broadcasting rebutted reports of purported ban on use, possession and circulation of Rs 5,000 currency notes, after fake circular with letterhead of Finance Division went viral on social media. Fake notice Septe...
SBP introduces structural reforms in exchange companies' sector
KARACHI: State Bank of Pakistan has decided to introduce structural reforms in exchange companies' sector. As part of these reforms, leading banks actively engaged in foreign exchange business will establish wholly owned exchange companies to cater t...
