Insurance plays a key role in sustainable growth both on social and economic fronts, said Mian M. A. Shahid CEO, SPI Insurance, however, awareness of the masses at grassroots level about the benefits of insurance is equally important for growth of insurance in the country. Mian M. A. Shahid was addressing the 10th annual general meeting of SPI Insurance, which was attended by members of the board of directors and …

  PAMA submits proposals for budget 2015-16 The automobile industry which has developed sufficient capacity to cater to the needs of automobile market is experiencing the pinch of the unfair advantage being given to the importers of the used cars at the cost of the local industry. It is surprising that instead strengthening the base of the domestic auto industry that generates a huge number of job opportunities besides imparting …

  Future shipping chain will be uncompleted sans Gwadar With the development of Gwadar Port as a fast track project, it has started catching eyes of the international seafarers due to its strategic location offering transitional shipping facilities in the region including entire landlocked for Central Asian States as well as responding to huge transitional movement between Pakistan and China, which is bound to generate huge economic activities for Pakistan. …

  Although the Information and Communication Technology (ICT) is taking roots in almost every segment of the society and even weeding out the chronic rot of file culture in our government organizations, yet the best advantage of the ICT is being enjoyed by the financial sector in Pakistan. In this respect, the Standard Chartered Bank, Pakistan’s largest international bank is taking a lead with one step ahead in its drive …

  The first shipment carried by a floating Storage and Re-gasification Unit (FSRU), leased to convert liquid natural gas into natural gas arrived at Engro’s LNG Terminal at Port Qasim last week end. According to government energy plan, this import liquid natural gas will be used for power generation to cut the costly fuel oil used by over 60 percent of thermal power generating units. The induction of LNG into …

  Mobile wallet accounts to cross 50 million in five years The State Bank of Pakistan has developed a strategy, in collaboration with the World Bank, to make a multifold surge in mobile account holders to over 50 million in the next five years, as branchless banking remains an effective channel to expand outreach of un-banked and under-banked people in the country. The governor State Bank of Pakistan Ashraf Mahmood …

  LNG — A new addition to Pakistan’s energy basket The energy regime to witness a new era of Liquefied Natural Gas (LNG) providing the much sought after relief from the mounting pressure of rising demand for natural gas in Pakistan with the arrival of the floating storage and re-gasification vessels arrives at Port Qasim on March 10, 2015. The private sector has played a significant role in materializing this …

  Over 60 percent of export earnings go on oil imports Economy always threatened by ever-rising circular debt Whatever the economic status of Pakistan may be the fact remains that the economy is heavily suffered because of centuries old power generation mechanism based on oil-fired system impairing its export benefits as more than 60 percent of export receipt had to spend on import of oil leaving a little for socio-economic …

  Thar coal key to resolve future energy needs of the country Realizing the pinch of acute energy shortages, the present government has assigned top priority to different energy projects both in the public and private sector under Pakistan-China Economic Corridor package. Responding to the government policy, Engro Powergen Limited (EPL) signed a joint venture agreement with China Machinery Engineering Corporation (CMEC) for development of 2 x 330 MW coal …

  Apart from Engro Corporation’s stellar growth that showcases a strong performance in key businesses, the Engro Group has added yet another feather to its cap — the Engro LNG Terminal at Port Qasim has set an example for other big business houses within the country to come forward with active plans to invest in energy sector aiming at overcoming the most crucial issue of energy shortages in Pakistan. Aliuddin …