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Pakistan Steel Mills financial woes continue

KARACHI: As the financial health of Pakistan Steel Mills (PSM) continues to deteriorate, the grievances of its serving and retired employees have increased manifold — with no respite in sight any time soon. Talking to Dawn a PSM official said the accumulated losses of the mill swelled to Rs166 billion …

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Higher deficit, low revenue challenge economic growth: SBP

KARACHI: Higher fiscal deficit, sharp decline in non-tax revenue and tax revenue much below expectations are serious challenges for the government willing to spur economic growth, the State Bank of Pakistan (SBP) said in its first-quarterly report for 2016-17 issued on Friday. In terms of gross domestic product (GDP), the …

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Dar for increasing access of financial services

ISLAMABAD :(Parliament Times)  Finance Minister Mohammad Ishaq Dar here on Thursday directed all relevant stakeholders to work in close collaboration for increasing outreach and access of financial services to people across the country. The minister chaired a meeting today to review progress on the implementation of National Financial Inclusion Strategy (NFIS), …

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Russia to set up 60 LPG AirMix plants in different areas in Pakistan

ISLAMABAD : (Parliament Times)   Russia is all set to install as many as 60 Liquid Petroleum Gas (LPG) AirMix plants in various areas of Pakistan. Keeping in view increasing demand of energy, 24 LPG plants would be set up in Balochistan whereas 36 will be divided in Murree, Gilgit Baltistan …

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‘Santa Rally’ gifts record close to London stocks

London: London stocks closed at a record high Wednesday on the back of a Santa Rally in subdued trade after a long Christmas holiday, while Wall Street retreated from record highs. The British capital’s benchmark FTSE 100 index of top blue-chip firms won 0.5 percent from last Friday as traders …

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Many European countries want to join CPEC, says Ahsan Iqbal

Beijing :The 6th Pak-China Joint Cooperation Committee (JCC) of the China-Pakistan Economic Corridor (CPEC) is meeting in Beijing today (Thursday). Federal Minister for Planning, Development and Reform Ahsan Iqbal is leading the Pakistan delegation, while the Chinese side will be headed by Vice Chairman of National Development and Reforms. During …

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CNG prices hiked by up to Rs 3.5 per kg in Sindh

Karachi: CNG prices have been increased by up to Rs 3.5 per kg across Sindh – the first hike following the government’s decision to deregulate the country’s CNG market. CNG prices in Karachi as well as the rest of Sindh have now climbed to Rs 70-71 per kg following a hike …

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PSX can suffer due to corruption, inflation: Forbes

 American business magazine Forbes has issued a report regarding the factors that could affect Pakistan Stock Exchange (PSX), reported Forbes. According to this report, PSX can suffer loss due to corruption, inflation, or revolution. The usual suspects that haunt frontier and emerging markets: inflation, corruption, and revolution. Not always in …

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Govt agrees to export 225,000 tons of sugar

ISLAMABAD :(Parliament Times)  The Ministry of Commerce, on Wednesday, has agreed to export 225,000 tons of sugar on the recommendation of Sugar Advisory Board (SAB) by March 31, 2017, well-informed sources told Dunya News. The ministry has decided to offer no rebate on sugar export. MoC has prepared a summary for …

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BMW to recall nearly 200,000 cars in China

German luxury carmaker BMW will recall nearly 200,000 vehicles in China because of flawed airbags, according to the country’s quality regulator and the company. Some 168,861 imported cars produced between December 2005 and December 2011, and 24,750 vehicles produced locally between July 2005 and December 2011 will be recalled, according …

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