Category: Business

ISLAMABAD: Prime Minister Imran Khan has ordered the authorities concerned to refund the amount charged from natural gas consumers through inflated bills. Presiding over a meeting on the issue of inflated gas bills on Tuesday, the prime minister also ordered strict action against the officials involved in sending the bills to the consumers. Finance Minister […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday allowed signing of the regasified liquefied natural gas (RLNG) supply agreement between the Sui Northern Gas Pipelines Limited (SNGPL) and the Punjab Thermal Power Company for the operations of 1263MW Trimmu Power Project. The ECC meeting presided over by Finance Minister Asad Umar also […]

ISLAMABAD: The Auditor General of Pakistan (AGP) has detected irregularities in the collection of Customs Duty and in the working of Export Processing Zones Authority (EPZA). In its special audit reports for 2011-12 to 2013-14, the report identified irregularities in EPZA which is managing 10 processing zones to promote industrialisation and exports from the country. […]

ISLAMABAD: Islamabad High Court (IHC) on Tuesday asked the Federal Board of Revenue (FBR) to show respect to taxpayers and not use its authority and powers to harass them. Chief Justice Athar Minallah during the hearing of a petition filed by Shahid Chan Zeb, owner of Red Sun Associates, asked the FBR whether it had […]

ISLAMABAD: The Econo­mic Affairs Division (EAD) and the Asian Development Bank (ADB) on Tuesday signed a $75 million loan agreement to provide additional finance for Mardan-Swabi road im­provement project. EAD Secretary Noor Ahm­ed and Khyber Pakhtun­khwa Communi­cation & Works Department Secretary Mohammad Shahab Khattak along with ADB’s Country Director Xiaohong Yang signed the (around Rs10.4 […]

ISLAMABAD: The Auditor General (AG) of Pakistan has demanded detailed investigations to fix responsibility for losses of almost Rs700 billion caused to the exchequer due to mismanaged development of the Neelum-Jhelum hydropower project and loss of water rights over the Jhelum River to India under an international arbitration. In its performance audit of the 969-megawatt […]

LONDON: Global liquefied natural gas (LNG) trade is set to rise 11 per cent this year as China leads a global drive to reduce pollution and tackle carbon emissions, Royal Dutch Shell said in an annual LNG report on Monday. Shell’s forecasts, which see LNG demand rising to 354 million tonnes this year and to […]

LAHORE: The poor quality of petrol available in Pakistan is a major barrier to introduction of cars equipped with engines that meet the Euro 4 standards or above in this market, according to a senior executive of a South Korean auto manufacturer. “We would like to bring more eco-friendly cars in this market. But such […]

SUKKUR: Central stalwart of the Pakistan Peoples Party (PPP) and former leader of opposition in the National Assembly Syed Khursheed Ahmed Shah has said that Pakistan would have to change its foreign policy to strengthen its economy and provide ample opportunities to investors. Talking to reporters after inauguration of a flower show titled ‘An Evening […]

PESHAWAR: The Peshawar Electric Supply Company on Monday claimed improvement in the recovery of dues from domestic consumers, and reduction in its line losses. Pesco chief executive officer Dr Amjad Khan told reporters at the Wapda House here that the company’s line losses had reduced through the collection of Rs500-Rs600 million every month since Dec […]