Pakistan Federal Union of Journalist (PFUJ) has expressed deep concern over the alarming increase of coronavirus cases in media houses across the country.
Prime Minister Imran Khan has stated that situation in Pakistan is not as bad in terms of the Covid-19 as in other countries especially Western countries and the number of cases in Pakistan is far less as compared to the projection for April 30, 2020.
A meeting of the Monetary and Fiscal Policies Co-ordination Board (MFPCB) presided by the adviser on Finance Dr Abdul Hafeez Shaikh has been informed of serious impacts of coronavirus pandemic on GDP growth as well as on aggregate demand and supply and th
The Economic Affairs Division (EAD) has stated that due to contraction in economic growth and fall in workers' remittances, the unemployment in Pakistan will increase leading towards raise in poverty besides tightening of financial conditions, leading to
The offices of Business Recorder will remain closed today, Friday (May 1) on account of Labour Day. Arrangements have, however, been made to bring out the newspaper tomorrow, Saturday (May 2), as usual.
Bollywood mourned a second loss in as many days as celebrated actor Rishi Kapoor, whose career spanned half a century, died Thursday aged 67 after a prolonged struggle with cancer.
While rebutting most of the claims of a nine-member committee's 296-page report, Independent Power Producers (IPPs) asserted that the main reason for high power tariff in Pakistan is higher Transmission and Distribution (T&D) losses and taxation.
Some 700 companies have applied for Rs 65 billion financing under the Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns.
Pakistan Banks Association (PBA) has proposed reduction in tax rate on banks from 35 percent to 29 percent, reduced rate of minimum tax of one percent, withdrawal of super tax, compensation on monthly advance tax payment and uniformity in Federal Excise D
A meeting of the Executive Committee of the National Economic Council (Ecnec) has approved four projects of over Rs249 billion for infrastructure, health as well as agriculture and water sectors (Diamer-Bhasha Dam Project acquisition of land and resettlem
Repatriation of profits and dividends by foreign companies operating in Pakistan fell 4 percent during the first nine months of the current fiscal year (FY20).
Despite lockdown and closure of businesses across the country, the Federal Board of Revenue (FBR) has been able to collect Rs242.460 billion during the month of April 2020 against Rs289.905 billion in April 2019, reflecting a decrease of 16.4 percent.
Sui Northern Gas Pipelines Limited (SNGPL) is without a permanent MD for the most part under the present government. The recruitment process has been completed twice but shelved at the last minute.
Pakistan is expected to once again come under scrutiny in the Morgan Stanley Semi Annual Index Review May-2020 for a potential downgrade from Emerging Markets to Frontier Markets, analysts said.
The National Assembly Speaker, Asad Qaiser, has tested positive for the novel coronavirus, he announced on Twitter late Thursday night. "I have put myself in self-quarantine," Qaiser said on Twitter, confirming he had the virus.
This is apropos a Business Recorder editorial "Shooting the messenger" carried by the newspaper yesterday. I, however, do not subscribe to the argument advanced by the newspaper against Maulana Tariq Jamil. Not only is he one of the top scholars in
Before the coronavirus, investors hungry for returns piled into risky corporate loans and bonds with precious little protection for creditors. Now they're frantically scouring the terms to see just what firms can get away with to survive the fallout.
The multiple failings of neoliberal agenda since its beginnings in the late 1970s - manifested in economic policies, including those of structural adjustment programmes by multilateral institutions like International Monetary Fund (IMF) and backed by mani
Pakistan is facing the brunt of Coronavirus outbreak as the country is in a partial lock down. This has had a negative impact on businesses. Initial estimates show that the economy will witness sluggish growth in services, manufacturing and agriculture se
The Ministry of National Health Services' data showed on April 28, 2020 that the number of tests for the coronavirus pandemic had inexplicably come down in all the provinces, with the notable exception of Sindh. The southern province reported 341 of the 7
In the worst case scenario growth rate would remain negative 1.5 percent, so stated the Ministry of Finance in the aftermath of a meeting with representatives from multilateral institutions stationed in Islamabad notably the International Monetary Fund (I
Solar power generation should not be part of the national grid. Instead, it should be community-based and managed at the local level. Also, this is high time to opt for solar energy because solar power equipment has become quite cheap thus reducing the co
The coronavirus has claimed 361 lives in Pakistan so far, while the total Covid-19 cases in the country has reached 16,276, of which 4,105 have recovered, the National Command and Operation Center (NCOC) said.
While the federal government has dismissed the possibility of immediately summoning Senate session as a precautionary measure in the backdrop of the outbreak of coronavirus, the senators have once again demanded a Senate session be held and to consider th
Engro Foundation, the social investment arm of Engro Corporation, has committed to provide Rs 20 million in financial assistance to Shaukat Khanum Memorial Cancer Hospital and Research Centre to expand COVID-19 testing capacity across Southern Punjab and
The Sindh High Court (SHC) has restrained the International Air Transport Association (IATA) from taking any coercive action against travel agencies including encashment of their guarantees by suspending the payment of cancelled tickets in present conditi
The district administration on Thursday sealed two sub-sectors of I-10 due to increase in number of coronavirus infected people, and asked the police, the Rangers and the Pakistan Army to cordon off the area.
Prime Minister Imran Khan stated on Thursday that a long-term plan, self-belief and vision are pre-requisite for the development and prosperity of the country, adding that the government has been working to chalk out such a plan.
Sindh Additional Advocate General Shabir Shah on Wednesday said after the dismissal of all the petitions by the Sindh High Court, now all the private schools bound to give 20 percent fee concession to the students as per the decision of Sindh Cabinet.
In the light of current Covid-19 crisis and the resulting unprecedented situation, K-Electric, on the request of industrial consumers, extended relief to the industrial sector by deferring the collection of Industrial Support Package (ISPA) arrears till A
With the arrival of funds from the International Monetary Fund (IMF), Pakistan's total liquid foreign exchange reserves crossed $18 billion mark at the end of last week.
Sindh High Court (SHC) on Thursday sought the reply from the Ministry of Railways and others in a petition related to the suspension of railways operation due to Coronavirus.
Farmers should step up irrigating cotton and spring season maze across southern Punjab and Sindh in May 2020, the Met Office said in weather outlook on Thursday.
Pakistan Tehreek-e-Insaf (PTI) Sindh Assembly member Shehzad Qureshi has announced to raise Rs 10 million for Layton Rahmatullah Benevolent Trust (LRBT), Pakistan's one of the largest non-government organization working to fight blindness in the country.
Pakistan Hosiery Manufacturers and Exporters Association (PHMA) on Tuesday requested the government to release old refunds of the textile exporters to ease the continuing liquidity crunch. The association also lauded the government's initiative for speedi
Patron-in-Chief North Karachi Association of Trade Industry (NKATI) Capt A Moiz Khan (Retd) and President Nasim Akhtar have expressed grave concern over rumors of end or easing of lockdown across Sindh, including Karachi, and appealed to Chief Minister Si
The Punjab Food Authority (PFA) on Thursday sealed three food points and discarded thousands of kilograms unwholesome food while carrying out an operation against adulterated milk and eatables in different districts of Punjab.
Pakistan International Airline (PIA) has annulled all working agreements with employees' associations, announcing to derecognise them with immediate effect.
In Sindh, 12 patients of Covid-19 lost their lives while 47 struggling in critical condition against the infection. This is the highest number of deaths since March 19 when the first death stemming from Covid-19 was reported.
Expressing concern over halt in trade and industrial activities due to lockdown amid Covid-19 pandemic, business community representatives said on Thursday that prolonged lockdown and suspension of trade and industrial activities are yielding negative imp
Sindh Coronavirus Emergency Fund Committee, headed by Sindh Chief Secretary Syed Mumtaz Ali Shah, in its 10th meeting on Thursday sanctioned Rs30 million for establishing 300-bed Field Hospital at PAF Museum Karachi.
Pakistan State Oil (PSO), the leading oil marketing company of Pakistan, convened its Board of Management (BoM) meeting to review the company's performance during the nine months of fiscal year 2019-20 which concluded on March 31, 2020.
The Pakistan Tehreek-e-Insaf (PTI) government on Thursday urged the Pakistan People's Party's provincial government in Sindh to mobilise the Prime Minister's Corona Relief Tiger Force (CRTF) in the province to facilitate the local administration, carrying
In wake of the recent COVID-19 pandemic, Allied Bank has provided financial support to various NGOs and hospitals in the country by way of donating Rs 60 million which also includes contribution to the Prime Minister's Covid-19 Relief Fund 2020.
President Faisalabad Women Chamber of Commerce and Industry (FWCCI) Qurat-ul-Ain has expressed concern over the recent report of World Bank that women make only 25 percent of the Pakistan's labour force which is lowest in this region.
The Federal Board of Revenue (FBR) has extended the time limit for filing of Annex-H (stock statement) for the tax periods of July 2019 to November 2019 up to May 15, 2020.
Chairman Hyderabad SITE Association of Trade and Industry Mazhar-ul-Haq Choudhry on Thursday hailed the announcement of the Prime Minister's relief package for small business and ban on export of essential food item.
The Punjab Cabinet has imposed a ban on unnecessary expenditures along with the release of new supplementary grants to ensure strict financial discipline. However, payment of salaries and pensions will be continued as per routine.
UBL recently joined hands with Saylani Welfare International Trust, a reputable charitable organization, to distribute ration bags to needy families across Pakistan.
HabibMetro Bank has pledged Rs 50 million to support Pakistan's fight against the coronavirus. As part of this initiative the Bank donated Rs 20 million to the Prime Minister's Covid-19 Relief Fund. Mohsin Ali Nathani, President & CEO HabibMetro Bank pres
Pakistan Vanaspati Manufacturers Association (PVMA) on Wednesday said continued closure of Pak-Afghan border has become a threat to businesses on both sides of the divide.
Ministry of National Food Security and Research (MoNFS&R) has reportedly sought a subsidy of Rs 63.8 billion for different agriculture related sectors which are hit by the outbreak of Covid-19.
As a young adult, many moons back, I had written and kept on my study table, the following words of John Ruskin, "for no human actions ever were intended by the Maker of Men to be guided by balances of expediency, but by balances of justice. He has theref
On the directives of Deputy Commissioner Sanghar, Dr Imranul Hassan Khawaja, NGO Malteser International Sanghar distributed ration among 3600 poor families in taluka Jam Nawaz Ali.
The Ministry of Information Technology and Telecommunication will submit a summary to the Cabinet's Economic Coordination Committee (ECC) soon, proposing major incentives for smartphones manufacturing in Pakistan.
The Federal Board of Revenue (FBR) has allowed entire Tier-1 retailers who have integrated all their point of sales (POSs) with the Board's system, to adjust input tax to the extent of 95 percent of the output tax for the tax period.
The cabinet of Khyber Pakhtunkhwa on Thursday announced postponement of the local bodies' elections due to the coronavirus emergency in the province. The meeting of the provincial cabinet was held here with Chief Minister Mahmood Khan in the chair.
Pakistan People's Party (PPP) Senator Rehman Malik on Thursday submitted a resolution in the Senate Secretariat urging the federal government to invoke "Force-Majeure Law" to have Pakistan's foreign debts written off from the International Monetary Fund (
The Supreme Court on Thursday allowed the federal government to issue Presidential Order for appointing interim chief minister and conducting election in Gilgit-Baltistan.
With the coronavirus pandemic set to inflict an "unprecedented" peacetime slump on the eurozone economy, European Central Bank chief Christine Lagarde said Thursday the institution's trillion-euro response could be expanded and prolonged into 2021.
Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse bet
Twitter swung to a loss in the past quarter as the global pandemic hit advertising revenue, even as the social platform saw a surge in new users. In its quarterly update Thursday, Twitter saw an $8 million loss as revenues edged up three percent to $808 m
Millions more Americans filed claims for unemployment benefits last week, suggesting that layoffs were spreading to industries that were not initially directly impacted by business closures and disruptions related to the novel coronavirus.
The eurozone economy contracted at a record rate in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday.
Chinese factory activity continued to expand in April, data showed Thursday, but analysts warned that the outlook remained clouded by battered overseas demand as the rest of the world struggles to overcome the coronavirus pandemic.
Danish-Palestinian bad-boy poet Yahya Hassan, who stormed on to Denmark's literary scene in 2013 and quickly became a household name, has died aged just 24, his publisher said Thursday.
South African activist Denis Goldberg, one of Nelson Mandela's closest colleagues in the struggle against apartheid, has died at 87, his family and foundation announced on Thursday.
Lebanon will seek financial help from the International Monetary Fund, Prime Minister Hassan Diab said Thursday, as the government adopted a long-awaited economic rescue plan after a new wave of street protests.
Tajikistan registered its first coronavirus cases on Thursday, one of the last countries in the world to confirm it had been affected by the pandemic. Five people had tested positive for the disease in the capital Dushanbe and a further 10 in the northern
Britain is "past the peak" of its coronavirus outbreak, Prime Minister Boris Johnson said Thursday, despite recording another 674 deaths in the last 24 hours, taking the toll to 26,711.
More than 130 therapies are being investigated as possible treatments for the coronavirus, a leading pharmaceutical industry association said Thursday.
Pfizer voiced hope Thursday it could roll out up to 20 million doses of a COVID-19 vaccine it is developing with German firm Biontech for emergency use by the end of 2020Pfizer.
The US intelligence community said Thursday it had concluded that the novel coronavirus that has swept the globe originated in China but was not man-made or engineered.
Saudi Arabia's stock market rose sharply on Thursday, outperforming the region on rising oil prices and easing coronavirus-related restrictions. Benchmark Brent crude was up 11.49%, or $2.59 at $25.13 a barrel at 1157 GMT, buoyed by signs that the US crud
China stocks rallied on Thursday to post their biggest monthly advance since December, after positive trial results for a drug to treat COVID-19 and downbeat data reinforced hopes of further stimulus to bolster the world's second-largest economy.
US stocks fell on Thursday as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.
US stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from US Federal Reserve Chair Jerome Powell.
Japanese stocks scaled a near eight-week closing high on Thursday, tracking Wall Street's overnight rally on promising early trial results of an experimental COVID-19 treatment, as well as on solid tech earnings and a surge in oil prices.
European shares fell from seven-week highs on Thursday after the European Central Bank held back on big policy moves despite mounting evidence of the damage being wrought on the euro zone economy by the coronavirus crisis.
An 11% plunge in the shares of oil giant Royal Dutch Shell knocked UK's FTSE 100 lower on Thursday, after the company cut its dividend for the first time since World War Two to cope with the fallout of the coronavirus crisis.
The Indonesian rupiah rose nearly 3% on Thursday on expectation of a pickup in bond inflows, while most other Asian units also firmed ahead of a long weekend as investors cheered promising early trial results of an experimental COVID-19 treatment.
The dollar fell on Thursday in choppy trading as investors rebalanced portfolios for month-end and after US stock markets pared losses, but remained lower on the day.
The euro was broadly flat on Thursday after preliminary euro zone economic growth data was even more dire than expected, as investors looked ahead to the European Central Bank (ECB) meeting, while the dollar held near two-week lows.
The Karachi Port handled 130,235 tonnes of cargo comprising 65,556 tonnes of import cargo and 64,679 tonnes of export cargo including 7,849 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
On Wednesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,556. The traded value of metals, energy and COTS/FX was recorded at PKR 5.603 billion and the number of lots traded was 15,164.
Chicago Board of Trade corn futures gained slightly on Wednesday as reports of a decline in weekly US ethanol stocks countered pressure from a strong planting pace in the Midwest.
Oil prices jumped on Thursday, as signs the US crude glut was not growing as quickly as many had feared brought an upbeat close to one of the most volatile months for oil trading in history.