PPP CEC takes major decisions today on Senate elections
Top Story
December 29, 2020
ISLAMABAD/LAHORE: The PPP in its Central Executive Committee (CEC) will take a final decision about the polls for Senate 52-seats and by-elections of eight seats of National and provincial assemblies in its today’s (Tuesday) meeting in Karachi as it will have an impact on PPP’s future relationship with the united opposition alliance Pakistan Democratic Movement (PDM).
The PDM summit of next Friday (January 1) at Jati Umrah Lahore will prove to be make or break for the united opposition alliance as it would take up highly sensitive issues vital for the survival of the movement.
PPP CEC takes major decisions on Senate elections today
Top Story
December 29, 2020
ISLAMABAD/LAHORE: The PPP in its Central Executive Committee (CEC) will take a final decision about the polls for Senate 52-seats and by-elections of eight seats of National and provincial assemblies in its today’s (Tuesday) meeting in Karachi as it will have an impact on PPP’s future relationship with the united opposition alliance Pakistan Democratic Movement (PDM).
The PDM summit of next Friday (January 1) at Jati Umrah Lahore will prove to be make or break for the united opposition alliance as it would take up highly sensitive issues vital for the survival of the movement.
Karandaaz becomes major shareholder of PCGC
National
December 28, 2020
ISLAMABAD: The government has approved the sale of majority shareholding of the state-owned Pakistan Credit Guarantee Company (PCGC) to the UK-funded entity Karandaaz by converting billions of rupees worth of unspent grants into equity.
The sale was approved despite the fact that the Ministry of Finance had raised key questions in writing at the initial stage. Out of grant money of £50 million, the unspent funds stood at Rs3.5 billion lying with the State Bank of Pakistan (SBP). The funds were invested into T-bills so the principal and mark-up amount increased to Rs6.5 billion in the last 12 years from 2008 through 2020.
Top Story
December 28, 2020
ISLAMABAD: The government has approved the sale of majority shareholding of the state-owned Pakistan Credit Guarantee Company (PCGC) to the UK-funded entity Karandaaz by converting billions of rupees worth of unspent grants into equity.
The sale was approved despite the fact that the Ministry of Finance had raised key questions in writing at the initial stage.
Out of grant money of £50 million, the unspent funds stood at Rs3.5 billion lying with the State Bank of Pakistan (SBP).
The funds were invested into T-bills so the principal and mark-up amount increased to Rs6.5 billion in the last 12 years from 2008 through 2020.
Top Story
December 28, 2020
ISLAMABAD: The government has approved the sale of majority shareholding of the state-owned Pakistan Credit Guarantee Company (PCGC) to the UK-funded entity Karandaaz by converting billions of rupees worth of unspent grants into equity.
The sale was approved despite the fact that the Ministry of Finance had raised key questions in writing at the initial stage. Out of grant money of £50 million, the unspent funds stood at Rs3.5 billion lying with the State Bank of Pakistan (SBP).
The funds were invested into T-bills so the principal and mark-up amount increased to Rs6.5 billion in the last 12 years from 2008 through 2020. Now the ECC has approved a change in the shareholding structure of the PCGC under which the shareholding of the Government of Pakistan in the company has been reduced to 49 percent from the earlier 70 percent.