Category: Business

ISLAMABAD: Prime Min­ister Imran Khan on Tuesday welcomed Saudi Arabia Al-Tamimi Group of Companies’ investment inter­est in food processing, dairy and livestock and meat processing sectors in the country. Talking to Al-Tamimi Group of Companies Chairman Sheikh Tariq Ali Abdullah, the PM emphasised on the reforms taken by the government regarding ease-of-doing-business and providing one-window […]

KARACHI: The price of moong pulse has hit an all-time record of Rs220-260 per kg in retail markets from Rs180-200 per kg in the last few days, while flour prices in Sindh have failed to show any signs of easing despite start of releasing of wheat stocks by Passco to the province on the direction […]

About a decade after co-founding Uber, Travis Kalanick on Tuesday severed his last ties with the ride-hailing giant, announcing he would exit the board of directors at the end of 2019. Kalanick, who was pushed out as chief executive in 2017 amid revelations about the controversial business practices that accompanied the company’s stunning rise, will […]

KARACHI: State Bank of Pakistan Governor Dr Reza Baqir on Tuesday said in a seminar that concentration of banks’ shareholding to a few families and their nominees on the boards is against good governance practices and may adversely impact the effectiveness of the board. During his inaugural address in a seminar on “Emerging Trends in […]

ISLAMABAD: Slow economic growth, failure to get out of the grey-list are some of the major risks faced by the country in its stabilisation programme under the $6 billion Extended Fund Facility (EFF), said the International Monetary Fund (IMF) on Tuesday. The risks were highlighted by IMF Resident Representative Teresa Daban Sanchez, while clarifying the […]

ISLAMABAD: The Economic Coord­ination Committee (ECC) of the Cabinet on Monday asked the Finance Division to review a proposal seeking five per cent sales tax exemption on cotton seed cake. The meeting, chaired by Finance Adviser Dr Hafeez Shaikh, referred the matter to the Finance Division for examination and asked it to submit a report […]

LAHORE: As hydel power generation considerably squeezed to just 1,700MW on average in the last 24 hours, the gas shortfall in Punjab and Khyber Pakhtunkhwa jumped to 400MMCFD on Monday, forcing the authorities to curtail supplies to power sector. “Though the gas supply to the CNG sector and industry has already been suspended for an […]

KARACHI: Pakistan Pet­­r­o­leum Ltd (PPL) ann­ou­nced two discoveries on Monday. A notice to the PSX info­rmed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block loca­ted in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Explo­ration Licence. The company holds 33.30pc working interest in the block. The second notice to the […]

ISLAMABAD: The Federal Tax Ombudsman (FTO) has taken a suo motu notice and directed the Federal Board of Revenue (FBR) to initiate disciplinary action against tax officials involved in sanctioning of millions of bogus sales tax refunds during the 2011-14. The notice was taken following an investigation conducted by Directorate General Intelligence & Investigation of […]

ISLAMABAD: The fertiliser sector has asked the government to reconsider proposed increase in gas prices, maintaining that it would raise urea rates and negatively impact food security of the country. In a letter to the Ministry of Industries, the fertiliser manufacturers said the latest gas price determination by the Oil and Gas Regulatory Authority (Ogra) […]