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Pakistan escapes FATF blacklist, but gets warning

ISLAMABAD: While giving a four-month lifeline, the Financial Action Task Force (FATF) has strongly urged Pakistan to swiftly complete its full action plan by February 2020 and until then the country will remain on the ‘grey list’. The Paris-based FATF reviewed measures taken and progress made by almost 15 countries, …

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Discounted power tariff hours for industry under study

LAHORE: Ministry of Energy’s Power Division is working on a proposal to give discounted power tariff hours, ending peak hours and issues/complications related to tariff applicable to the industrial sector. The division is also set to get input from the chief executive officers (CEOs) of all power distribution companies (DISCOs) …

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China’s GDP growth slows to 27-year low at 6pc

BEIJING: China’s economy expanded at its slowest rate in nearly three decades during the third quarter as it was hit by the long-running US trade war and cooling domestic demand, data showed Friday, with an official warning of “mounting downward pressure”. With China a key driver of global growth, the …

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Sindh govt to facilitate oil and gas exploration

KARACHI: Representatives of oil and gas exploration companies on Friday said that they want to expand their businesses in Sindh provided the government carries out infrastructure development in areas where fields are located. At the meeting, convened and chaired by Sindh Energy Minister Imtiaz Ahmad Shaikh, matters related to petroleum …

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NA body briefed on genetically modified crops

ISLAMABAD: The Nat­ional Assembly’s Standing Committee on National Food Security and Research on Thursday was briefed on the prospects for the introduction of genetically modified (GM) food crops in the country. The ministry of national food security and research and the parliamentary committee were in disagreement over the introduction of …

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Flour becomes more expensive

KARACHI: Consumers are set to face a harsher wave of food inflation as flour millers once again raised flour no. 2.5 rate and 10 kg bag prices to Rs47.50 per kg and Rs480 from Rs45.50 and Rs460 per bag, respectively. Apart from flour, biscuits, juices and packaged/tetra pak milk are …

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High debt levels to persist until FY24, says IMF

WASHINGTON: The Inter­national Monetary Fund (IMF) on Wednesday projected Pakis­tan’s primary deficit to turn positive one per cent of GDP in the FY21 from a negative 0.5pc in FY20 but said the country’s debt levels are likely to remain elevated at above 65.4pc until FY24 despite continuous decline. In one …

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