Securities and Exchange Commission of Pakistan (SECP) Insurance Division Director Waseem Khan said on Tuesday Pakistan has no public programme for disaster insurance even though it ranks fifth on the list of countries that are most vulnerable to disaster. Speaking at a news briefing ahead of the International InsureImpact Conference to be held on Dec 13 and 14, Mr Khan said the government shou
The State Bank kept the interest rate unchanged at a record 22 per cent on Tuesday for the fourth consecutive meeting, hoping to see a significant decline in inflation in the second half of the fiscal year. Most independent economists and analysts expected the central bank to hold the rate steady due to a surge in the November inflation. The bank’s monetary policy committee (MPC) said that a
The Central Development Working Party (CDWP) on Tuesday cleared four development projects at an estimated cost of Rs36.22 billion in the areas of water resources, housing and communications in Balochistan to secure much-delayed international financial assistance from multilateral lenders committed under Geneva pledges for post-flood rehabilitation and reconstruction. The meeting of the CDWP was
Attock Refinery Ltd has shut down two of its crude distillation units temporarily to manage refinery operations, the company said in a stock exchange filing on Tuesday. The refinery, which has a nameplate capacity of 53,400 barrels per day, said it’d be operating at a throughput of about 60 per cent going forward because the despatch pattern of petrol and diesel for the current month continues
The caretaker government machinery scrambled on Tuesday to assure the nation that the country has sufficient fertiliser stocks and that all fertiliser plants will be provided with an uninterrupted gas supply throughout the ongoing winter season to maximise production. “All plants will be running at full capacity throughout the current winter season… to ensure a consistent and sufficient local s