Category: Business

ISLAMABAD: Amid continuously aggravating pet­roleum shortage across the country, the government has decided in principle to “completely deregulate” petrol pricing and marketing and do away with uniform pricing mechanism. The decision comes at a time when oil marketing companies (OMCs) are under criticism for their cartelisation-like behaviour in the case of high octane blending component […]

PESHAWAR: The district administration of Peshawar on Thursday arrested 385 people, mostly traders, and sealed several pharmacies and superstores for not following the standard operating procedures enforced to prevent the spread of Covid-19 pandemic. According to a statement issued here, Umer Pharmacy, Naik Store and Esa Electronics on University Road, Chen-One and Macro Mart on […]

KARACHI: Shortage of wheat continues to fuel rise in flour prices across the province in the absence of effective price control mechanism and insipid government response to the deepening crisis. On Thursday, flour millers raised prices by Rs2 per kg on various varieties of flour. Just two days before on Tuesday, they had raised prices […]

ISLAMABAD: Pakistan’s exports tumbled for the third consecutive month in May falling 33.6 per cent year-on-year to $1.39 billion compared to $2.09bn in the corresponding month last year, data released by the Pakistan Bureau of Statistics showed on Thursday. Compared to 54pc decline in April, when exports fell to $957 million, month-on-month proceeds in May […]

ISLAMABAD: Federal Industries Minister Hammad Azhar has defended the government’s decision to terminate the services of over 9,300 workers of the Pakistan Steel Mills (PSM), saying that revamping was necessary to revive production there. Speaking at a press conference on Thursday, the minister slammed the opposition for opposing the government’s revamping plan. He was flanked […]

ISLAMABAD: Amid alleged boycott by Balochistan Chief Minister Jam Mir Kamal Khan Alyani, the Annual Plan Coordination Committee (APCC) on Thursday finalised total development outlay of about Rs1.41 trillion to achieve an economic growth rate of about 2.3 per cent next fiscal year (2020-21). The APCC meeting, presided over by Deputy Chairman Planning Commission Jahanzeb […]

PESHAWAR: The business community has presented a 48-point charter of demands to the government, which include a complete end to lockdown, early payment of tax refunds, lifting of ban on wheat transportation from Punjab to Khyber Pakhtunkhwa and one-year tax waiver to revive business activities in the province. Addressing a news conference on the premises […]

KARACHI: The dollar continued its upward journey against the local currency, raising the uncertainty for the exchange rate and importers. On Tuesday, the dollar was traded as high as Rs166 in the interbank market but fell back to close at Rs164.89 with a gain of 81 paisas. Currency dealers said the pressure on the exchange […]

ISLAMABAD: The supply of petroleum products has been seriously affected in many parts of the country as oil marketing companies and the authorities concerned failed to ensure mandatory stocks at designated depots. The major shortage was witnessed in the supply of motor gasoline, commonly known as petrol, in many cities and towns as smaller stocks […]

ISLAMABAD: The Federal Board of Revenue has raised duty drawback rates on exports of finished leather and plastic goods including packing material. The revised rates, worked out by Input-Output Coefficient Organisation (IOCO) of the Customs, were issued through two different notifications SRO460 and SRO461 and the new one will be available to exporters from May […]