The federal cabinet has approved the production of industrial hemp by the government in a decision that could result in a $1 billion market for Pakistan in the future, Minister For Science and Technology Fawad Chaudhry said on Wednesday. The minister had first announced the decision on Tuesday on Twitter, saying the cabinet had approved […]
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ISLAMABAD : The Board of Investment (BOI) on Tuesday said the new investment promotion strategy launched recently is focused on engaging investors in priority sectors. In a statement, the board said it would provides the support and facilitation services needed to assist them with their investments. The BOI maintained that supporting existing investors to solve […]
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KARACHI: Traders in the old city areas — dealing with the bulk of country’s wholesale trade — on Monday continued to struggle with stagnant rainwater and assessing inventory losses while industrialists in different areas gave a mixed picture of production activities and export activities on the first day of the week. Korangi Association of Trade and Industry […]
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The government has decided not to change petroleum prices for the month of September, according to a press release issued on Monday. The August prices, instead, will carry forward. Last week, informed sources had said the government would increase the prices of petroleum products by Rs8-9 per litre after increasing the levy on petrol and diesel. But […]
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ISLAMABAD: Revenue collection in August fell two per cent or Rs5 billion year-on-year to Rs294bn, data released by the Federal Board of Revenue (FBR) showed on Monday. The FBR also missed the month’s collections target by 4.5pc or Rs14bn. The board had projected revenue collection of Rs308bn for August. The heavy rainfall badly affected customs […]
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Asking the head of a chamber of commerce about economic prospects is like asking a barber if you need a haircut. You already know their answer. The economy may be going down the toilet, but optimism is never in short supply for chamber leaders. Punctuated with customary references to the country’s ‘potential,’ their words are […]
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KARACHI: The dollar continued to fall against the local currency as it slipped by Rs1.20 to Rs166.23 in the interbank market on Monday while total decline in the last three sessions was 1.3 per cent. The State Bank of Pakistan reported the dollar closed at Rs166.23 but bankers dealing in the currency market said the […]
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ISLAMABAD: The government is examining the options of involving private managers through management contracts and forensic audit of loss-making state-owned entities (SOEs) as it prepares to submit a progress report to the International Monetary Fund (IMF) by Sept 30. Presiding over a meeting of the Cabinet Committee on State-Owned Enterprises (CCSOEs), Adviser to the Prime […]
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ISLAMABAD : The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) capital office has criticised the Board of Investment (BOI) for downplaying the business community and not giving importance to issues faced by investors. FPCCI Coordinator Mirza Abdul Rehman said on Friday that the board has to facilitate the business community including chambers of […]
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ISLAMABAD: In an interesting development, the National Electric Power Regulatory Authority (Nepra) has returned to the National Transmission & Despatch Company (NTDC) the 27-year Indicative Generation Capacity Expansion Plan (IGCEP 2020-47) to get its approval from the government on the basis of preferred fuel mix and provincial shares. Strangely, the regulator also gave a list of about […]
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