Category: Business

PESHAWAR: Changes in the pattern of rainfall and cold stress phenomenon have resulted in the loss of normal yields of food grains, including wheat and maize, and fruits in different districts of Khyber Pakhtunkhwa in recent years. A report by the Climate Change Centre, University of Agriculture, Peshawar, reveals that the climate change had serious […]

LAHORE: Punjab Governor Chaudhry Sarwar and Chief Minister Usman Buzdar in their ‘Anti-corruption day’ messages said corruption had weakened Pakistan and termed the corrupt country’s enemies, pledging the PTI government won’t budge an inch from its principled stand against such elements. The governor said corruption was the root cause of all problems faced by the […]

PESHAWAR: The United Business Group, a group of businessmen, has hailed the Peshawar High Court’s verdict, directing the FIA to conduct probe into the alleged corruption in the BRT project within 45 days. The group’s leader and former senator, Ilyas Ahmad Bilour,while talking to mediapersons here on Sunday, said the people of Peshawar, particularly the […]

ISLAMABAD: The four provinces jointly provided a whopping cash surplus of Rs202 billion to the Centre during the first quarter (July-September) of the current fiscal year to help meet its fiscal targets committed to the International Monetary Fund (IMF). This means the provinces did not utilise more than one-fourth (25 per cent) of the funds […]

The government of Pakistan on Monday signed an agreement with the Asian Development Bank (ADB) worth $1.3 billion for budgetary support and reforms. Economic Affairs Division Secretary Syed Pervaiz Abbas and ADB Country Director Xiahong Yang signed the agreement during a ceremony where Minister for Economic Affairs Hammad Azhar was also present, according to a […]

VIENNA: The powerful Opec group of oil producers and its allies reached a deal on Friday to cut production by 500,000 barrels per day in a bid to stem prices which have been under pressure from abundant reserves and weak global economic growth. Friday’s so-called Opec+ meeting included Russia, the world’s second-largest oil producer and […]

KARACHI: Extending the seemingly unending bull run, the stock market opened on Friday in the positive and the KSE-100 index closed the first session before prayers at intraday high of 347 points. In the second half, investors thought it prudent to reduce positions ahead of the weekend as many were nervous over the already high […]

ISLAMABAD: The local steel industry has expressed concerns over proposed grant of special concessions to establish Directly Reduced Iron (DRI) technology in the country, claiming that the initiative was being taken without consultations with local sector. In a letter to several government functionaries, the Pakistan Association of Large Steel Producers (PALSP) said that none of […]

KARACHI: Legal impo­rts of various edible items including dry fruits and spices are down due to regulatory duty and huge taxation while smuggled goods are thriving, Pakistan Kiryana Merchants Associ­ation (PKMA) said on Friday. In a statement, Chairman PKMA Haji Nadeem-ur-Rehman said smugglers are supplying dry fruits and spices such as cashew nuts, almonds, red […]

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Friday said the notification for country-wide committees constituted to register traders with the tax department and solve their outstanding problems will be issued next week. Zaidi said the constitution of the committees is in line with the memorandum of understanding signed between FBR and traders […]