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Private sector borrowing hits record

Private sector borrowing hits records

Private sector borrowing hits records The private sector cumulatively borrowed Rs1.44 trillion in previous fiscal year 2021-22 (till June 28), which was 142.5% (or Rs848 billion) higher compared to Rs595 billion in the same period (July 1, 2020 to June 28, 2021) of last fiscal year, according to Pakistan’s central …

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Value-added industry suffers losses

Value-added industry suffers losses

Value-added industry suffers losses Value-added textile industrialists of Karachi are upset with the government for its callousness towards their appeal and SOS calls conveyed to Prime Minister Shehbaz Sharif and relevant ministries regarding resumption of gas supply,” Value Added Textile Forum Chief Coordinator Jawed Bilwani said. Many industries of Karachi …

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‘Lifeline’ IMF deal secured

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Pakistan and the International Monetary Fund (IMF) on Tuesday night reached an understanding on the federal budget for 2022-23, leading to revival of the extended fund facility (EFF) after authorities committed to generate Rs436 billion more taxes and increase petroleum levy gradually up to Rs50 per litre. The understanding was …

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At least 1,000 killed in Afghan quake, with fear toll will rise

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A powerful earthquake jolted a remote border region of Afghanistan overnight killing at least 1,000 people and injuring 1,500 more, officials said Wednesday, with the toll expected to rise as desperate rescuers dig through collapsed dwellings. The 5.9-magnitude quake struck hardest in the rugged east, where people already lead hardscrabble …

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Moringa – a super food for mitigating malnutrition

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Right from the ancient times down to modern era, human beings passed through a series of research and experiments to fully utilize the natural potential of agricultural sector especially in terms of food items. Living close to nature in thinly populated areas four to five centuries back, the mankind usually …

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Mortgaging new assets to get Rs2tr loans For Country

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The federal cabinet on Tuesday approved pledging Pakistan’s seashore infrastructure, sports and tourism facilities and a few remaining major road networks to raise more debt after borrowing nearly Rs2 trillion by giving all major airports and highways in surety during the past one year. Both the cabinets of former prime …

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YOU CAN FEEL THE RAIN ON YOUR SKIN

FEEL THE RAIN ON YOUR SKIN

Monsoons are a breath of fresh air, a sigh of relief after a sweltering heatwave. For me, monsoon signifies the brightest hues, spellbinding aromas and fried food cravings. There are colours everywhere, from big vibrant umbrellas to trendy flip flops, leaves look bright green even the most mundane looks brand …

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Finance: The government-bank relationship

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When banks start demanding higher and higher returns on the government treasury bills and bonds, the government retaliates by imposing a higher tax on their income. This is exactly what the next fiscal year’s budget tells us. And when banks continue to invest heavily in government debt securities taking and …

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KP Budget: PTI budget — an eye to the future

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That a budget can be ‘populist and fiscally expansionary’ and yet advance governance and financial reforms is the key takeaway from Khyber Pakhtunkhwa’s budget proposals for the next fiscal year. The Rs1.33 trillion budget prepared with an eye on the next general elections is a distinctive combination of the populist …

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