Category: Business

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday notified a seven per cent increase in the price of liquefied petroleum gas (LPG) and allowed about 22pc rise in the prescribed rate of natural gas. In separate determinations under revised revenue requirements for the current year, Ogra has allowed an increase of Rs119.68 per […]

KARACHI: Pakistan Refinery Ltd (PRL) has announced its plan to invest $1 billion in “refinery upgrade project”, according to a press release issued by the company on Friday. The release noted that the PRL plans to convert its refinery into a deep conversion refinery along with achieving compliance the government’s requirement to produce EURO II […]

QUETTA: The provincial cabinet on Friday approved amendments to the Balochistan Factories Bill 2017 to protect the rights and jobs of workers and making the owners bound to pay compensation to the labourers in case of any incident. The meeting, chaired by Chief Minister Jam Kamal Khan, also adopted Balochistan Shops and Establishment Bill 2019, […]

BRUSSELS: The United States on Friday welcomed the blocking of a proposal to add a group of countries, including four American territories, to the EU money-laundering blacklist after almost all member states opposed it. The US ambassador to the European Union, Gordon Sondland, hit out at the “dogmatic posturing” of the European Commission, the bloc’s […]

KARACHI: The stock market extended gains on the last trading day of the week as investors took heart and were encouraged by subtle gestures of decreasing Pak-India hostilities. The KSE-100 index gained 484.41 points (1.30 per cent) to close at 39,539.02. Investors who worried over missing out the opportunity to buy stocks at attractive prices […]

KARACHI: The possibility of clearing last three days held up air cargo brightened on Friday after the Civil Aviation Authority (CAA) announced resumption of air traffic from Jinnah International Airport from 6pm onwards. According to exporters, the CCA directed the Customs authorities to resume examination of air cargo for advance booking of space with airlines. […]

LONDON: Factories across the globe slammed on the brakes last month as demand crashed, hit by the ongoing US–China trade war, slowing global growth and political uncertainty in Europe ahead of Britain’s imminent departure from the EU. A slew of surveys on Friday highlighted how much manufacturers are suffering, particularly those exposed to China’s slowdown […]

ISLAMABAD: The Federal Board of Revenue (FBR) missed collections target by Rs235 billion during the first eight months of current fiscal year, according to provisional figures released on Thursday. Total revenue collections during the eight months clocked in at Rs2.328 trillion, up three per cent from Rs2.259tr earned during the same period last year. On […]

ISLAMABAD: The lawmakers on Thursday expressed concern over problems being faced by the common people because of an ongoing tussle in the state-run insurance company and criticised the Federal Board of Revenue (FBR) for seeking approval of half-cooked development projects without setting priorities right. Chairman of the National Assembly’s Standing Committee on Finance, Faiz Ulla, […]

ISLAMABAD: The government has failed to bring all members of parliament into the tax net as 97 legislators did not file their tax returns on a voluntary basis in the tax year 2017. Under the Income Tax Ordinance, filing of returns is mandatory for all those who possess a 1,000cc car, a plot of 250 […]