【Daily】21 Nov. Brief of Pak BizNews
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No default: Ishaq Dar says current account deficit going
Federal Finance Minister Ishaq Dar on Saturday ruled out default, stating Pakistan had never defaulted and would repay all its outstanding obligations for the ongoing financial year well on time.
Power generation cost declines as renewables, solar share goes up
Cost of power generation in the country went down by three percent in the month of October this financial year, compared to the same month of last fiscal.
Sugarcane support price okayed at Rs300 per maund
The provincial cabinet paid tribute to Dr Sania Nishter for accomplishing years of work in only two months along with attaining success in the flood relief programme. Addressing the cabinet meeting, the chief minister lauded the efforts and paid tribute to Dr Sania Nishter, SMBR Zahid Zaman Akhter, PDMA DG Faisal Fareed and the whole team. He stated that the disbursement programme of Rs12 billion for more than 5,000 flood affectees is an example of its own.
IMC raises Toyota vehicle prices
Despite the low cost of import on account of the rupee’s recovery against the dollar in the last one and a half months, Indus Motor Company (IMC) has increased prices by Rs190,000-700,000.
Investors withdraw $660m from Naya Pakistan Certificates in six months
The foreign investors withdrew $660 million from Naya Pakistan Certificates (NPC) during the last six months, compounding the hardship for the country already facing a serious problem of falling foreign exchange reserves.
Cheap oil, gas: Pakistan communicates with Russia
Pakistan Saturday communicated with Russia to procure cheap oil and gas. Sources privy to the matter said that in this regard, the foreign ministry and the petroleum ministry started to communicate – via letters – with Russia.
ECC allows TCP to import urea from China, Azerbaijan
The Economic Coordination Committee (ECC) of the Cabinet has allowed the import of 125,000 metric tons of urea from China on a government-to-government (G2G) basis on deferred payment of 90 days besides an import of 35,000 metric tons on G2G basis from Azerbaijan to meet domestic demand.
Turkey eyes $5b trade in three years
Turkey and Pakistan enjoy heart-to-heart relations and Ankara is keen to boost bilateral trade to at least up to $5 billion in the next two to three years. The current volume of trade is not reflective of the actual potential of both countries.
Commodities and Currency: 1-Day Change