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ADB provide $197mn loan for post flood highways rehabilitation project

ADB providing bank loan, as you all knows ADB stands for Asian Development Bank, its providing bank loan for post flood Pakistani highways rehabilitation project, The economic recovery of flood affected peoples and area will covered by this project. in these areas project is launching now a days (Khyber Pakhtunkhwa, ...

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Pakistani researchers lay the foundation for building Urdu speech recognition system

The possibility of some software application developer coming up with an Urdu speech recognition program just got more likely as the most fundamental tool needed for it has just been developed at Lahore’s Information Technology University. Linguistic technology expert Dr Agha Ali Raza and his team at ITU’s Center for ...

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Wapda cancels Rs5.4bn contracts with Chinese firm for Dasu project

ISLAMABAD: Even before the formal launch of $4.5 billion Dasu hydropower project, the Water and Power Development Authority (Wapda) has terminated two of its key contracts with a Chinese firm, citing ‘fundamental breaches’ of the agreement. Moving swiftly, Wapda has not only encashed the performance guarantees of the two contracts ...

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EOBI losing Rs10bn a year due to unfinished projects

ISLAMABAD: The Employees Old Age Benefits Institution (EOBI) is losing Rs10 billion in revenue a year due to 18 incomplete mega development projects. Under the PPP government, the EOBI embarked on an ambitious, Rs20 billion plan to construct offices, commercial buildings and hotels in Islamabad, Lahore, Karachi and Sialkot. The ...

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Real estate market recovering

The real estate market is picking up after taking a plunge in the first half of this fiscal year. This has come as good news for banks and financial institutions eyeing credit expansion. In FY16, loans to the construction industry more than doubled from Rs14bn to Rs31.5bn with a fresh ...

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Bank deposits up

THE government raised Rs519.36bn from the auction of Market Treasury Bills of various tenors held on Jan 18, smaller against the offered amount of Rs1071.74bn. Of the total, six month T-bill fetched Rs266.18bn at a cut off yield of 5.93pc, followed by three month T-bill with Rs148.37bn at 5.90pc, and ...

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Creeping tax exemptions

The PML-N government has taken credit for withdrawing the major part of a purported Rs477bn worth of tax exemptions under the recent IMF programme. But tax exemptions now appear to be creeping in again, to support the CPEC Programme. Under a systematic scheme, tax exemptions were first introduced in road ...

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China’s 2016 growth is slowest in 26 years

BEIJING: China’s economy grew 6.7 per cent last year, its slowest since 1990, and is expected to slide further this year but at a stable clip to 6.5pc. Its performance last year, helped along by larger government spending and a buoyant property market, came with costs as debt went up ...

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Stock market rises 154 points in lacklustre week

KARACHI: It was by and large a lacklustre week for stocks. The bullish momentum fizzled out and the Pakistan Stock Exchange (PSX) consolidated at the current levels. Some support to the index came mid-week as the market prepared for the signing ceremony of 40 per cent stake sale-and-purchase agreement with ...

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With exports falling, spending on foreign trade offices jumps

ISLAMABAD: Govern­ment spending on running 54 trade offices in more than 30 countries jumped by more than a quarter in the previous fiscal year. Official documents available with Dawn show that government spending on overseas trade offices rose 27.3 per cent year-on-year to Rs1.71 billion in 2016-17. The bulk of ...

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