ISLAMABAD, Dec 09 (INP-WealthPK) — The recent hike in interest rate by the State Bank of Pakistan (SBP) will heighten the borrowing cost that will in turn raise the cost of doing business resulting in closure of industries and rendering hundreds of thousands of workers jobless, reports WealthPK. Ayaz Ahmed, former senior research economist at the Pakistan Institute of Development …
ISLAMABAD, Dec 09 (INP-WealthPK) – The rising oil prices in Pakistan necessitate greater focus on energy efficiency and a faster transition from fossil fuels to renewable sources, particularly in the transport sector, reports WealthPK. According to the latest research into green transport penetration in Pakistan conducted by the US-Pakistan Centre for Advanced Studies in Energy (USPCAS-E) at the National University …
ISLAMABAD, Dec 09 (INP-WealthPK) — The government has set a target of manpower export of one million this year, as many countries, including Romania, Portugal and Greece, have shown interest in importing manpower from Pakistan, said Minister for Overseas Pakistanis and Human Resource Development Sajid Hussain Turi, reports WealthPK. He expressed these views while addressing the business community during his …
ISLAMABAD, Dec. 09 (INP-WealthPK) — The Lahore Chamber of Commerce and Industry (LCCI) has demanded the government allocate land for the establishment of a cottage city, and also formulate tax policies for the sector as the cottage industry is not only a building block of the economy but is also critical for alleviating poverty and unemployment in the country. This …
ISLAMABAD, Dec. 08 (INP-WealthPK) — The government will invest Rs 100 million during this fiscal year to advance an ongoing project for the geological mapping of 50 toposheets of outcrop areas to find mineral potential in Balochistan province. According to a document available with INP-WealthPK, 50 geological mappings of toposheets in outcrop areas, out of 354 unmapped toposheets in Balochistan …
ISLAMABAD, Dec 08 (INP-WealthPK) – – Prime Minister Shehbaz Sharif has asked Chinese businesses to extensively invest in renewable energy projects in Pakistan, especially solar energy. He was speaking to a group from the Third Engineering Bureau of China Construction, which was led by Tan Guofu, the vice chairman of the organisation. Tan Guofu’s promise to invest more money in …
ISLAMABAD, Dec. 08 (INP-WealthPK) — From 2010 to 2020, the data centre industry in Pakistan experienced a spectacular growth. Data centres has evolved from ICT (information and communication technology) equipment rooms to cloud data centres. According to a report of China Academy of ICT (CAICT), an independent research institution, rapid development of new technologies such as artificial intelligence (AI), cloud …
ISLAMABAD, Dec. 8 (INP-WealthPK)—Pakistan’s current account posted a deficit of $2.8 billion for the first four months of the ongoing fiscal against a deficit of $5.3 billion recorded in the corresponding period of the previous financial year, WealthPK reports. The current account deficit decreased due to an increase in exports from the country and a contraction in imports. According to …
ISLAMABAD, Dec. 08 (INP-WealthPK) – Pakistan needs to introduce modern cultivars, improve market infrastructure and post-harvest handling techniques to increase pomegranate production in order to offer better economic benefits to the growers and sufficiently meet the domestic demand. This was stated by Dr Nurullah, a senior scientific officer with the National Agriculture Research Centre (NARC), while talking to WealthPK. He …
ISLAMABAD, Dec. 8 (INP-WealthPK) — The country’s production of olive oil is likely to fall by 30% as a result of the adverse effects of climate change, Olive Cultivation Programme’s National Project Director Dr Hassan Tariq said. Speaking to the media, he said that this season’s production of olive oil is projected to total 70 million metric tonnes, down from …
