The drought-hit regions of northern and central India, all the way up to Pakistan, are staring at lower food output and high prices as the region is set to receive lower than normal rainfall due to the El Nino weather pattern in the second half of the year. The trend is likely to affect cereal and oilseed crops across Asia with the forecast of hot, dry weather. Chris Hyde, a meteorologist at
Foreign exchange holdings of both the State Bank of Pakistan (SBP) and commercial banks improved during the week ended on March 10 reflecting the higher inflows of remittances and export proceeds. Pakistan’s overall forex holdings rose by $92m to $9.847bn during the week. Finance Minister Ishaq Dar on Thursday tweeted that the SBP would soon receive $500 million from the Industrial Credit Ba
The premier and the finance minister asserted on Thursday that there would be “no compromise” on the country’s nuclear and missile programme and they are “jealously guarded by the state”. The statements from the top came amid concerns raised by some quarters after the visit of the International Atomic Energy Agency’s (IAEA) head to Pakistan last month and the government’s failure to strike a de
Commerce Minister Syed Naveed Qamar on Thursday appreciated the plans of a Chinese group for setting up an industrial park in Pakistan. A Chinese delegation headed by Shandong Xinxu Group Corporation chairman Hou Jianxin during a meeting with the commerce minister discussed its investment plans. Mr Jianxin said he came up with the vision to establish an industrial park in Pakistan to get be
The five-member National Electric Power Regulatory Authority (Nepra) and various consumer representatives on Thursday stood unanimous in strongly criticising the government for an unprecedented and continuing hike in electricity prices without addressing the structural problems in the power distribution companies as the regulator appeared set to allow an electricity surcharge of up to Rs3.23 per u