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Business

Coronavirus to leave a legacy of unprecedented global debt

LONDON -Reuters/UNS – Enormous doses of stimulus spending are offering relief from coronavirus damage but their lifelong legacy of debt could seed future crises by hobbling economic growth and worsening poverty, especially in developing countries. Central banks and governments worldwide have unleashed at least $15 trillion of stimulus via bond-buying …

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Hafeez favors debt rescheduling at G20 forum, sees negative 1.5pc growth in FY20

ISLAMABAD – Amid growth projections of negative 1 to 1.5 percent for Pakistan, Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said Monday that poorer countries genuinely need to be favoured through debt rescheduling at the G-20 forum to provide them relief to deal with …

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Govt disburses Rs541.63 bn of PSDP funds

ISLAMABAD: The federal government has disbursed over Rs541.63 billion in term of Public Sector Development Programme (PSDP) funds during the last 10 months on Friday. Over Rs233.78 billion of funds released to the federal ministries, more than Rs15.72 billion for national highways and more than Rs38.49 billion for the security …

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Azhar outlines plans to gradually reopen industries

ISLAMABAD – Federal Minister for Industries and Production Hammad Azhar has outlines plans to gradually reopen industries on Thursday. In a media briefing, after National Coordination Committee meeting regarding COVID-19, in Islamabad on Thursday, that it has been unanimously decided to open allied industries of the construction sector, which include …

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‘Over 303,000 people benefited from debt repayment package’

KARACHI -UNS-  The State Bank of Pakistan tweeted on Friday that around 303,000 people benefited from its relief package to extend loan principal repayments as of April 24. The total sum of all borrowers amounts to Rs236 billion. “The majority of the beneficiaries are small borrowers,” it said. According to …

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Weldon Mr PM: Govt slashes petrol price by Rs15 per liter

ISLAMABAD -UNS – The government on Monday has reduced petroleum product prices for the month of May 1,2020. According to notification issued on Thursday, petrol price has been slashed by Rs15 per litre, whereas the price of High Speed Diesel has also been decreased by Rs27.15 per litre. The prices …

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OGRA proposes Rs44.07 per liter cut in Petroleum prices

ISLAMABAD -UNS : Oil & Gas Regulatory Authority (OGRA) on Wednesday submitted a summary to the petroleum division recommending that the prices of the petroleum products should be decreased by up to Rs44.07 per litre starting from May 1. According to sources, the regulatory authority forwarded a summary to the …

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