PTI Considers Mass Privatization Of State Enterprises Including IMF Bailout

“We are looking at (other) options (also) including raising money from the Pakistani diaspora, new sukuk [Islamic] bonds and requesting Saudi Arabia to defer our oil payments” AUG 3, 2018 (BE2C2 Report): The PTI-led coalition setup at the Center will place all of Pakistan’s state-owned companies into a special fund to be managed at arm’s […]

Pakistani Engineer Turns Straw Waste Into Clean Fuel (Video)

AUG 3, 2018 (BE2C2): A Pakistani engineer has designed a system to help developing countries avoid fuel imports by making ethanol with the millions of tons of straw that are wasted each year. Syed Hussain Abid who has done his Masters in Innovation Design Engineering from Imperial College London, says the country produces over 50 […]

De-Coupling US Concerns Regarding China Loans and IMF Bailout

Loans given by China to Pakistan has a 30-year length and a five-year grace period, meaning there would be no repayments for the first five years; and for the next five years, Pakistan’s total annual debt repayments and profit expatriation by Chinese companies would be below $1 billion until 2023. AUG 2, 2018 (BE2C2 Report): […]

Amnesty Scheme Yields $1.2 Billion in Taxes, $18 Billion in Hidden Assets Whitened

The FBR has fetched Rs97 billion from declarants, of which Rs36 billion have been retrieved on overseas assets, Rs61 billion on domestic assets, and $40 million has been repatriated. JUL 31, 2018 (BE2C2): The tax amnesty scheme has encouraged more than 64,000 individuals to avail the opportunity, paying Rs107 billion in taxes on the value […]

Saudi Arabia Halts Basmati Rice Imports From India, Exporters Urge Govt Intervention

JUL 31, 2018 (BE2C2): India’s Basmati Rice exporters have urged its federal government to initiate steps to resume export to Saudi Arabia which halted Rice imports from India since June for non-compliance with its new maximum level of pesticide residues in food items. Exporters warn that the development will significantly shrink India’s share in the […]

Connecting The Dots: Why UN Anti-Money Laundering Dept Launched Probe Against Nawaz

Connecting the Dots: Banks: Habib Bank NY Branch; Al Rajhi Bank, Jeddah; Standard Chartered Bank, Lahore; Account Holders: Hill Metals, Nawaz Sharif, et al JUL 22, 2018 (Updated): The United Nations anti-money laundering department has decided to start investigations against Nawaz Sharif, the former PM who was recently sentenced to 10-years imprisonment for living beyond […]

Dubai-Based Developer Emaar Plans $1.4Bn Asset Sale as UAE Property Market Slumps

JUL 22, 2018: Dubai-based developer Emaar is to hoping to raise $1.4bn from sale of assets to counteract the effects of a property slump in the emirate, according to reports in the UK’s Financial Times. The company, which is 30% owned by the government of Dubai, is looking to sell its portfolio of hotels, clinics […]

Saudi Arabia, UAE To Invest $20 Billion In South Africa –Africa’s 2nd Largest Economy

JUL 21, 2018 (BE2C2): South Africa has secured billions of dollars in investment agreements with Saudi Arabia and UAE which will bolster Africa’s second biggest economy marred by over 36 percent unemployment rate and may also be aimed at disrupting Pretoria’s close relationship with Iran. The state visit of South African president Cyril Ramaphosa to […]

Industrial and Traders Body Wants Probe Into Massive Rupee Slide Against Dollar

JUL 20, 2018: Pakistan Industrial and Traders Associations Front (PIAF) chairman Irfan Iqbal Sheikh has demanded a high-level probe into massive devaluation of rupee by over 22% during the last six months. He also demanded the State Bank to identify the reasons and share the findings with the business community. He said the Pak rupee […]

FBR Receives Details of Dubai Properties Owned by Pakistanis

JUL 18, 2018: The Federal Board of Revenue (FBR) has declared that it has received detail information about secret properties and income of Pakistanis in Dubai. The report comes as FBR said this week it has obtained information regarding immovable properties owned by Pakistanis in the United Kingdom (UK). The information has been obtained with […]

National Debt Crisis: Financial “Pre-Poll Rigging”

We had been reporting since January that between mid-year and year-end, Pak Rupee value could hit 140 and may even cross the 150 mark. JUL 18, 2018 (BE2C2 Analysis): Less than two weeks before Prime Minister Shahid Khaqan Abbasi wrapped up his cabinet and PML-N led federal government to make way for a caretaker setup […]

As Finances Wobble, Rupee Devalued Further: Propping Economy ‘Needs Some Kind of Bazooka’

JUL 16, 2018 (BE2C2): The State Bank let Rupee devalue further on Monday as finances wobble before national election in nine days. The rupee has been devalued for the fourth time this year– it dropped almost 14 percent since December, seeking to slow the depletion of foreign-exchange reserves before the election. The country’s foreign reserve […]

FBR Obtains Details of Properties Owned By Pakistanis in UK

JUL 17, 2018: Under a newly-signed agreement, Pakistan will have access to information about assets of its nationals abroad, it emerged on Monday. The Federal Board of Revenue (FBR) has obtained information regarding immovable properties owned by Pakistanis in the United Kingdom (UK). The information has been obtained with the assistance of Organization for Economic […]

Remittances Dip From Saudi Arabia, Rise From US and UK

JUL 12, 2018: The country missed home remittances target of $20.7 billion for the fiscal year Jul 2017-Jun 2018 (FY18). The State Bank of Pakistan (SBP) Tuesday reported that overall, overseas Pakistani workers remitted $19.6 billion during FY18 compared with $19.351 billion received during the same period in the preceding year (FY17), showing a growth […]

IMF Bailout On The Cards For Next Government, Analysts Say

In 2019, the pressure would be further ratcheted up as Pakistan would need to make $12.7 billion of external repayments against $7.7 billion this year. JUL 9, 2018: The country’s next government, to be chosen in the July 25 general elections, faces growing fears of a balance of payments crisis with speculation it will have […]

Wages For High-Skilled Workers in Saudi, UAE to Surge –For Lack Of Talents

JUL 9, 2018 (BE2C2): Wages for high-skilled labor across the Middle East are forecast to surge in the coming period, as talents appear to be lacking, a new study by Korn Ferry said. The expected increase in salaries in the UAE and Saudi Arabia are likely to have strong effect on the media, technology and […]

Dubai Property Deals Drop To Dh111B In 2018 As Compared To Dh132B In 2017

JUL 9, 2018: Overall property transactions in Dubai totaled Dh111 billion for the first half of 2018, says the Dubai Land Department (DLD). This represents an approximately 16 per cent decline compared to the same period a year ago. Overall property transactions in Dubai totaled Dh132 billion in the first half of 2017 and Dh113 […]

Balochistan CM Seeks UNDP Help For Vocational Institutes To Train Youth For CPEC Jobs

Vocational training institutes required for CPEC projects: CM Marri JUL 7, 2018 (BE2C2): Caretaker Balochistan Chief Minister Alauddin Marri has urged the UNDP to help set up technical education centers in the province, saying its youth need expertise to avail the job opportunities arising from China Pakistan Economic Corridor (CPEC) and its downstream projects including […]

Major Rivers in Pakistan Contaminated by Substantial Water Pollution, Study Reveals

Only 8% of country’s total municipal wastewater and 1% of industrial wastewater are treated before they are discharged into rivers; The Chenab exhibited highest concentrations of toxic beyond safe limits JUL 6, 2018 (BE2C2): A China-Pakistan joint study reveals three Pakistani rivers are suffering from substantial water contamination. Potentially toxic elements (PTE) were discovered, sourced […]

Diamer Bhasha Dam Process Jump-Started: Ad Published In Intl Papers For Contractors Prequalification

JUL 5, 2018 (BE2C2): Complying with the Supreme Court order to go ahead with building two new dams on war-footing while promising to raise funds for it even by asking the nation and Pakistanis abroad to donate for their construction, the Water and Power Development Agency (WAPDA) has advertised in international newspapers asking international contractors of […]