Category: Business

over as acting chairman of the Federal Board of Revenue after Shabbar Zaidi applied for a 15-day leave citing health reasons. Nausheen is a BS-22 officer of Inland Revenue Service presently posted as Member (Administration). Sources in the FBR told that Mr Zaidi initially applied for one week leave but later extended it to two […]

KARACHI: Pak Suzuki Motor Company (PSMC) on Tuesday announced that it will observe three non-production days — every Monday — during the month of January owing to depressed demand. In a notice to its vendors, the company said that it will observe “Mondays of current month as NPDs owing to depressed demand.” January is usually […]

ISLAMABAD: The government has called another meeting of the Economic Coordination Committee (ECC) on Wednesday for constitution of a price negotiation committee for Turkmenistan-Afghanistan-Pakistan-India (Tapi) Pipeline and settlement of about Rs75 billion liabilities to state-run entities. To be presided over by Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh, the […]

Oil prices rose and Asian stock markets fell Wednesday after Iran fired missiles at US bases in Iraq in retaliation for the killing of an Iranian general. Brent crude futures, the benchmark for international oils, spiked more than $3 per barrel in London before retreating. Tokyo’s stock market benchmark fell nearly two per cent before […]

Banking and other businesses across India suffered on Wednesday as millions of workers went on strike protesting the Hindu nationalist government’s economic policies, especially the planned sale of several state-owned companies including Air India. Protesters marched on the streets of New Delhi and several state capitals in response to the strike call given by 10 […]

ISLAMABAD: In a major development, the centre on Monday claimed to have secured a broad agreement with the Sindh government for introduction of a significantly higher weighted average cost of natural gas and imported liquefied natural gas (LNG) in future to streamline supplies. At the same time, Minister for Energy Omar Ayub Khan and Special […]

KARACHI: Cargo supplies across the country came to a halt on Monday when goods transporters suspended their operations in protest over a hefty increase in fines, forcing the federal government to send in its top guns for holding talks to resolve the crisis. Sindh Governor Imran Ismail, Punjab Governor Chaudhry Sarwar and Prime Minister Imran […]

KARACHI: Pakistan’s economy is unlikely to meet the GDP growth target of four per cent whereas inflation is expected to remain within the 11-12pc range, said the State Bank of Pakistan (SBP) in its first quarterly report of FY20 issued on Monday. Meanwhile, the bank estimates the current account deficit to remain low at 1.5-2.5pc […]

ISLAMABAD: With­drawing a couple of key amendments on the objections of the power regulator, the Economic Coordination Committee (ECC) of the Cabinet on Monday cleared amendments to the Regulation of Generation, Transmission and Distribution of Electronic Power Act 1997 to meet conditions of the International Monetary Fund (IMF). The amendments to the Nepra Act are […]

KARACHI: A staggering sum of Rs169 billion was wiped off the market capitalisation at the Pakistan Stock Exchange in a single day where 325 listed stocks bled profusely against just 28 scrips that managed to escape the carnage. The KSE-100 index fell 1,027 points (2.43 per cent) and sank way below the 42,000-level at 41,296 […]