Category: Business

KARACHI: Government borrowing from the scheduled banks in the last week of December jumped by 55 per cent. For the first time in the last three years, the government borrowing from scheduled banks crossed Rs1 trillion-mark within six months. The latest data released by the State Bank of Pakistan (SBP) shows that government borrowed Rs1.116tr […]

KARACHI: Local one-tola and 10g gold price hit an all time high at the start of New Year, rising to Rs90,800 and Rs77,846, respectively. This breaches the previous peak of Rs90,150 and Rs77,289 achieved in August 2019 based on the world gold price of $1,546 per ounce. All Sindh Sarafa Jewellers Association (ASSJA) first released […]

ISLAMABAD: In order to ensure ease of doing business, Prime Minis­ter Imran Khan on Sunday directed the cabinet division to devise separate mechanisms or standard operating procedures (SOPs) for regulatory authorities to ensure easy and time-bound issuance of licences, permissions or no objection certificates (NOCs) to the applicants. The prime minister asked the cabinet division […]

ISLAMABAD: To ensure a belated compliance with the targets of International Monetary Fund (IMF), the government is set to recover additional cost of losses from consumers by imposing new surcharges aimed at financing power sector loans and generate more than Rs250 billion in annual revenue. As a first step, a meeting of the Economic Coordina­tion […]

Oil prices surged, gold hit a more than six-year high and most equities tumbled Monday after the US assassination last week of a top Iranian general fanned fears of a major conflict in the Middle East. Donald Trump warned of a “major retaliation” against Tehran after it threatened revenge for the killing Friday of commander Qasem […]

Apple chief Tim Cook saw his annual pay slip to $11.6 million in 2019 after the company registered a weaker financial performance compared with the previous year, according to documents filed Friday. Cook, who took home $15.7 million in 2018, is paid a base salary of $3 million, in addition to a bonus and various […]

LAHORE: The board of directors of the Sui Northern Gas Company Limited (SNGPL) has approved construction of sales meter stations around the city to overcome low gas pressure in various localities. At least three sales meter stations (SMS) will be constructed at a cost of Rs5.7 billion, says a spokesperson for the SNGPL. He says […]

GWADAR: The Gwadar Fishermen Alliance has announced plans to launch a jail bharo movement if the construction work of a breakwater on the Eastbay is not launched up to Jan 10. The local fishing community has suffered huge losses as massive sea tide on Thursday hit the Gwadar coastline and destroyed a large number of […]

KARACHI: The K-Electric said on Friday that the figures ranging from Rs4 upwards being circulated in media circles as an increase in consumer bills were misleading. A spokesperson for the power utility said: “Some news channels and publications have quoted the figure of more than Rs4 increase in the end consumers’ monthly bills, which is […]

QUETTA: Pakistan and Iran will help each other in dealing with the difficulties they face, and take steps for promotion of trade and economic activities between the two countries. This was agreed during the 23rd meeting of the Pak-Iran Joint Border Commission which concluded here on Friday after three days of deliberations. The meeting took […]