The Asian Development Bank (ADB) on Wednesday approved a $250 million expensive loan to support policies to shift financing of major projects from the budget to private sector amid displeasure on the part of Prime Minister Shehbaz Sharif over the lack of progress on private-funded schemes. The board of the Manila-based lending agency approved the release of first tranche of the $500 million exp
In an attempt to expand footprint into new sectors of the economy including aviation and corporate farming, renowned businessman Arif Habib has proposed that the government should reinvest the proceeds from the privatisation of Pakistan International Airlines (PIA) back into the national carrier, as the state will continue to hold a 49% stake. Arif Habib Corporation is part of one of the six co
The government has barred telecom companies from sharing information with any individual, entity or organisation about lawful interception between the Pakistan Telecommunication Authority (PTA) and the operators of telecommunication systems. Sources told The Express Tribune that the Information Technology and Telecommunication Division had approached the government to maintain confidentiality f
Experts have expressed grave concern about the plight of the struggling auto industry and its future outlook, while appealing to the government to control the massive influx of imported vehicles through rationalising taxes. They said such a move will revive the local market, protect the interests of local car manufacturers and ensure the sustainability of livelihoods. “The auto industry has
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded that the government immediately reduce the interest rate to 12%. Electricity price should be reduced to 9 cents per unit for all industries while contracts with the independent power producers (IPPs) should be revisited, it said. FPCCI Regional Chairman and Vice President Zaki Aijaz, while addressing a press co