Pakistan has paid a whopping $100m in penalties to ADB for its failure in executing various donor-funded projects during last 15 years.
Pakistan paid $5 million in 2020 on account of sovereign and non-sovereign loans penalty and $2.3 million till June 2021.
ADB imposes 0.15% commitment charges on signed projects if executing agencies fail to deliver on implementation.
Economy
ISLAMABAD: Amid a strong protest from consumers against 10 per cent increase in power tariff, the National Electric Power Regulatory…
An alarming issue is that the national imports expanded by 64 percent during Jul-Oct 2021 and increased to $25 billion as against to $15.2 billion during Jul-Oct 2020. Thus, in US dollars the imports surged by $10 billion.
Increase led by double-digit rise in prices of non-perishable food items
If 17% sales tax and Rs5 petroleum levy is removed, it will bring relief to the consumers, otherwise, LPG will cost dearly to consumers.
Hammad Azhar says that the government is taking all possible steps to avert the looming gas crisis in the country.
Azhar says that they have arranged 11 cargoes for the month of November.
He maintains that talks were underway with the companies about the LNG cargoes.
The company shipped 52.8 million phones, making it the world’s second top-selling brand for the first time in history, behind Samsung but much ahead of Apple.
Lahore-based startup Zarya — a business-to-business social commerce platform — has raised $1.7 million in pre-seed funding, the company announced…