Category: Business

KARACHI: The country will need to invest around $15 billion in a short period for inducting an additional 0.2 million trucks to fill the gap being created by implementation of axle load regime. A number of trade and industry bodies have asked the government to stop arbitrary implementation of axle load regime which could turn […]

ISLAMABAD: Around eight per cent of the total declarants have opted for pay-later option under the Tax Amnesty Scheme, 2019. The total tax collections under these declarations are estimated to be around Rs10.9 billion. The Federal Board of Revenue (FBR) is in the process of analysing the data to ascertain outcome of the scheme in […]

ISLAMABAD: As the demand for steel bars grows in the wake of increase in infrastructure products and construction of high-rise housing projects, the government has decided to implement standards in the sector. The Pakistan Standards and Quality Control Authority (PSQCA) has called a meeting of all stakeholders and experts after Eid holidays to establish steel […]

ISLAMABAD: Pakistan’s exports to the European Union have stagnated in the last four years despite waiver of duties on several products under the Generalised System of Preferences Plus (GSP+). The GSP+ facility, implemented from Jan 1, 2014, helped promote exports from Pakistan to the EU by almost 21 per cent in the first year. However, […]

Oil prices fell on Tuesday on lingering concerns over global demand and rising US production, though expectations for major producers to further curtail output offered support. Brent crude futures LCOc1 were down 20 cents or 0.3% from the previous settlement at $58.29 a barrel by 0643 GMT. The international benchmark has lost over 20% since […]

ISLAMABAD: In less than 40 days after increasing gas tariff by up to 200 per cent, the government on Friday hiked minimum gas charges by 39pc for almost all consumer categories, except 9pc increase for commercial and no change for domestic consumers. The decision was notified by the Oil and Gas Regu­latory Authority (Ogra) on […]

ISLAMABAD: Within seven months of their appointments, the Federal Cabinet on Friday changed chairmen of both Securities and Exchange Commission of Pakistan and its Policy Board ending a long-standing dispute between the two. Replacing Farrukh Sabzwari, the cabinet has approved the appointment of Aamir Khan as chairman SECP for a period of three years with […]

ISLAMABAD: The National Electric Regulatory Authority (Nepra) has asked the K-Electric to work out compensation for families of the victims who lost their lives by electric shocks during recent rains due to non-observance of standard operating procedures (SOPs) and ensure effective remedial measures ahead of the second round of anticipated downpour this weekend. The regulator […]

KARACHI: The federal government’s total debt stood at Rs31.784 trillion as of June FY19 end, jumping by 31.27 per cent, from Rs24.212tr in same period last fiscal year, the State Bank of Pakistan reported on Friday. Domestic debt was the primary driver behind this increase as it accounted for 65pc of the overall government borrowing. […]

KARACHI: The KSE-100 index closed last day of the week in red losing 309 points (1.04 per cent) to close at 29,429.07, marking seven seventh session of decline. In the absence of positive triggers, worries over several issues weighed on investors’ mind. Major heavyweight sectors which included financial, exploration and production and cement sectors were […]