Category: Business

The Oil and Gas Regulatory Authority (Ogra) on Wednesday recommended up to Rs44.07 per litre reduction in the price of major petroleum products for the month of May to share the benefit of lower international prices with the consumers. In a summary sent to the Petroleum Division, seen, the authority has proposed a decrease of […]

ISLAMABAD: A new analysis carried out by a team of scientists at the International Maize and Wheat Improvement Centre (CIMMYT) has shown benefits of conservation agriculture for crop performance, water use efficiency, farmers’ incomes and climate action across a variety of cropping systems and environments in South Asia. The analysis, published in ‘Nature Sustainability’, is […]

LAHORE: The National Transmission and Despatch Company (NTDC) is set to serve a notice on an Iranian firm this week for the payment of about Rs714 million with interest under a recent decision of the Paris-based International Chamber of Commerce (ICC). The NTDC may move a court in Pakistan for implementation of the ICC’s international […]

LAHORE: Punjab could face cumulative economic losses of $18-20 billion – equal to 10-12 per cent of the size of its economy, in a worst case scenario, should the Covid-19 lockdown in the province continue for three months. The job losses accompanying the drop in the provincial economic output are projected to be in the […]

ISLAMABAD: A senior government official privy to forensic investigations into the 2019 sugar and wheat crises has said hurdles such as finding the ‘required’ forensic experts and closure of mills caused delay in completion of detailed audit. Prime Minister Imran Khan had ordered a commission to conduct a forensic audit by April 25 after the […]

ISLAMABAD: According to a plan submitted to the National Electric Power Regulatory Authority (Nepra), the share of cheaper hydropower in the national power mix is likely to decline to about 20 per cent from 30pc at present by the fiscal year 2040 due to the negligible role played by private sector as the government attempts […]

ISLAMABAD: Pakistan has been ranked as a 4th Generation Regulator (G4) by the International Tele­communication Union (ITU), becoming the only country in South Asia to have achieved the status. Out of the 38 economies in Asia-Pacific, only eight per cent states have managed to achieve G4 status. In the ITU report titled “Global ICT Regulatory […]

BRUSSELS: The world grappled with the economic pain of the coronavirus pandemic on Thursday as bitterly divided EU leaders tried to hammer out a rescue package and US jobless claims soared to a staggering 26 million. European Central Bank boss Christine Lagarde warned her colleagues against “doing too little, too late” but Europe remains deeply […]

ISLAMABAD: The United Nations Conference on Trade and Development on Thursday proposed the creation of an international developing country debt authority mandated to oversee the implementation of comprehensive temporary standstills as well as case-by-case longer-term debt sustainability assessments and consequent sovereign debt relief and restricting agreements. This could follow the path of setting up an […]

KARACHI: Current account deficit during the first three quarters of current fiscal year shrank by 73 per cent to $2.768 billion compared to $10.284bn in the same period last fiscal year, data released by the State Bank of Pakistan (SBP) showed on Thursday. The current account deficit in the current and last fiscal years has […]