Pakistan International Airline (PIA) has announced that it has entered into a deal with the US Trade Development Agency (USTDA) with the aim to conduct a feasibility study on an engineering project named as ‘Maintenance, Repair and Overhaul (MRO)’.

The deal was inked by US Ambassador to Pakistan Anne W Patterson, on behalf of the USTDA, and PIA Managing Director Muhammad Aijaz Haroon.

The said agreement offers a grant worth Rs 58 million, and will be provided for carrying out the feasibility study.

According to recent reports, Asian Development Bank (ABD) and World Bank (WB) have recently decided to conduct a ‘Damage and Needs Assessment (DNA)’ of floods in Pakistan, after the request of the country’s administration.

While talking to media, ABD’s country director for Pakistan, Rune Stroem said that this is the fourth DNA, which is mutually conducted by the ABD and WB in Pakistan in close association with the Economic Affairs Division.

According to recent reports, Pakistan Finance Minister, Abdul Hafeez Shaikh, is supposed to hold talks with the IMF.

During the meet, Finmin would present the early assessment report showing severe impacts of devastated floods over the Pakistan’s economic system.

In a report, the department official said that the floods have demolished over 1.7m hectares (4.25m acres) of land in the country, which will have a major impact on the agricultural field as well as on the economic situation.

The Pakistan Muslim League-Nawaz (PML-N), has forwarded an adjournment motion in the Senate Secretariat, looking for debate on the impact of the shocking floods on the country’s financial system.

Moreover, the ex-Finance Minister Senator Ishaq Dar belonging to the PML-N transferred the motion in the parliament’s upper house.

In response of that the leading opposition party of the country had showed its worry over the present working of the national economy.

For the holy month of Ramazan, Pakistan Telecommunication Company Ltd (PTCL) has made announcement about the launching of its appealing offers for its landline customers.

The landline customers would only have to pay just Rs 500 as installation charges in the month of Ramazan. 

Moreover for applying for PTCL fixed line, the clients would also be offered free telephone sets.

According to news released issued by the Pakistan government, the country is likely to receive 77,500 tonnes of white sugar from India as well as Brazil by the coming week, adding to national stocks of 155,948 tonnes.

The above declaration was made by a spokesman for the Trading Corporation of Pakistan (TCP) on Tuesday.

Further, the official from TCP stated that around three vessels will be bringing in 77,500 tonnes of white sugar from the two countries during the next 10 days.

According to the note released by the State Bank of Pakistan (SBP), it has issued its guidelines for freight forwarders, which some exporters claim, give rise to the theft of export consignments.

Moreover, the central bank said that the name of the real owner of the goods will appear in trade documents along with that of freight forwarder, transferring goods from one place to another.

It said, “The master bill of lading, issued in name of the freight forwarders will now carry the name of exporters and details of the export consignment.”

According to the statement said by an official of the Finance Ministry, the International Monetary Fund (IMF), likely to approve $1.2 billion loan for Pakistan during a board meeting to be held on May 3, wants Islamabad to peg the fiscal deficit at 5.1 per cent of the GDP.

Further, the regional head of the IMF for South Asia, during his meeting with Prime Minister Yousuf Raza Gilani on April 13 in Washington, guaranteed him that the IMF Board in its meeting would grant the release of the fifth trance for the country under a standby arrangement of $11.3 billion.

Visa, a leading payment solution provider, and United Bank Limited (UBL) has recently announced that they inked a deal for deployment of electronic point of Sale (POS) machines at designated places in Northern regions like D. I khan, Murdan, Mingora, Batkhela and Peshawar.

NADRA values the lives of its workers and has always been determined to provide them so that they can work with dedication; Life Insurance is one such proposal to fulfill the need of workers.

Moreover, the statement was made by the Chairman NADRA Ali Arshad Hakeem at the time of releasing approval of Life insurance Policy for All NADRA Contractual Employees.