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Asad Umar reviews progress on PSDP projects
ISLAMABAD: Federal Minister for Planning Development and Special Initiatives Asad Umar on Thursday reviewed the implementation plan of major projects of the Public Sector Development Programme. –HAMZA HABIB
Pakistan, Kazakhstan sign deal to promote research
ISLAMABAD: Pakistan and Kazakhstan signed a memorandum of understanding (MoU) on Thursday to kick-start an era of research and academics in various fields of commonalities, a statement said. –LATIFUR REHMAN
Engro sets up centre to boost agriculture sector
KARACHI: The Engro Fertilizers Limited (EFL) inaugurated the first Engro Learning Centre to strengthen academia-industry linkage and boost agricultural productivity, a statement said on Thursday. –LATIFUR REHMAN
Sindh to set up micro grids to energise villages
KARACHI: The Sindh government is working on the policy to establish mini/micro grids to energise the off-grid villages at the most affordable cost in partnership with the private sector. –JAVED MIRZA
Rupee hits record low of Rs176.42 against dollar
KARACHI: The rupee lost 94 paisas against the dollar to hit an all-time low of Rs176.42 on Thursday, owing to a huge trade deficit during the first five months of the current fiscal year. –SHAHNAWAZ AKHTER
Further rupee depreciation, hike in key policy rate expected in 2022
KARACHI: Fund managers and corporates believe the rupee may depreciate further to make a new low and significant rise in the key policy rate is expected by the end of 2022. –LATIFUR REHMAN
PIA to induct four Airbus-330 in its fleet
KARACHI: The Pakistan International Airlines (PIA) plans to acquire four Airbus 320 aircraft on lease, increasing the number of Airbus aircraft in its fleet to 18. –JAVED MIRZA
Cutoff yield in 6-month T-bills rises to 11.5%
KARACHI: The cutoff yield in the auction of the benchmark six-month market treasury bills (MTBs) sharply increased to 11.5 per cent, much higher than the key policy rate of 8.75 per cent. –SHAHNAWAZ AKHTER
FBR announces massive rise in Karachi properties valuation
KARACHI: The Federal Board of Revenue (FBR) has announced a massive increase in the valuation of immovable properties located in Karachi for the purpose of collecting withholding tax. –SHAHNAWAZ AKHTER
Availability of fertilisers ordered
LAHORE: Punjab chief secretary Kamran Ali Afzal has directed all the deputy commissioners to continue monitoring the prices and availability of fertilisers in their respective districts. –IQTIDAR GILANI
Bloodbath at PSX, as investors foresee massive interest rate hike
KARACHI: The Pakistan stocks witnessed a bloodbath on Thursday, as the market already initiated the pricing in expectations of beyond 100bps increase in the upcoming monetary policy announcement this month. –JAVED MIRZA
PSX plunges over 1,900 points at midday
KARACHI: The Pakistan stocks plunged 1,922 points, or 4.24 per cent, at midday, as the investors were concerned over the rising import bill of the country, which will widen the current account deficit, dealers said. –LATIFUR REHMAN
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