Category: Business

ISLAMABAD: Pakistan’s exports dipped by 19.5 per cent year-on-year in August, data released by the Ministry of Commerce (MoC) showed on Thursday. During the second month of FY21, export proceeds were reported at $1.586 billion, as against $1.969bn over the corresponding period of last year. The exports returned to a declining trend after witnessing paltry […]

KARACHI: Chief of Army Staff (COAS) Gen Qamar Jawed Bajwa assured full support to industrialists and businessmen in resolving various issues besides urging them to set up more industries and enhance exports. City’s businessmen met with the COAS at the Corps Headquarters in Karachi on Wednesday. In the meeting, which lasted two-and-a-half hours, Gen Bajwa […]

ISLAMABAD: The Petroleum Division of Ministry of Energy (MEPD) and Islamabad Policy Institute (IPI) on Thursday challenged each other over the rationale to upgrading petrol and diesel to Euro-V standards in the country and over the relevant specifications and processes for such improvements. The debate started after the Islamabad Policy Institute (IPI) highlightedfaults with the government […]

ISLAMABAD: The power sector’s circular debt increased by Rs538 billion (33.4 per cent) during the fiscal year ending on June 30, or at an average rate of about Rs45bn per month. This was observed during a meeting of the Senate Standing Committee on Power presided over by Senator Fida Muhammad Khan on Thursday. The government […]

ISLAMABAD: The Privatis­ation Commission Board on Wednesday approved transaction structure for the revival of Pakistan Steel Mills (PSM). The PSM has not been in operation since June 2015. The transaction structure was agreed at the board’s meeting concluded late night on Wednesday, and will now be presented to the Cabinet Committee on Privatisation for approval. […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday once again approved an increase in electricity rates by Rs1.09 to Rs2.89 per unit for various consumers of Karachi to bring it on a par with the rest of the country, with effect from September 1.  A meeting of the ECC presided over by […]

ISLAMABAD: Serious differences have cropped up among the independent power producers (IPPs) after signing of their memorandums of understanding (MOUs) with a negotiation committee of the government for tariff reduction. Two large groups of IPPs have fallen out with each other amid mutual mistrust, and the head of the IPP Advisory Committee (IPPAC) — Khalid […]

ISLAMABAD: Inflation eased to 8.2 per cent in August, from 9.3pc in July on the back of a slight decline in prices of essential food products, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday. Inflation during the month fell despite a significant rise in the petroleum prices. The data showed chicken […]

ISLAMABAD: After questioning the justification for furnace oil-based expensive power generation, the National Electric Power Regulatory Authority (Nepra) on Tuesday reserved judgement on 86 paisa per unit increase in electricity rates demanded by ex-Wapda distribution companies (Discos). “The decision will be issued after carrying out analysis with regards to the statements made by National Power […]

QUETTA: Iranian Consul General in Quetta Hassan Darwesh has said that without help and cooperation of the industrialists and business people of both countries, the target of trade between Pakistan and Iran cannot be achieved. During a meeting with a delegation of local businessmen, headed by vice president of the Quetta Chamber of Commerce and […]