Category: Business

ISLAMABAD: The government on Tuesday increased electricity tariff by 53 paisa per unit for all distribution companies of Wapda (Water and Power Development Authority) to generate about Rs53 billion additional revenue over a period of one year. According to a notification issued by the Power Division, the increased electricity rates are effective from Oct 1 […]

LAHORE: The Balochistan government is trying to persuade large Pakistani investors to form a consortium to invest their money in the development of Reko Diq copper and gold mining project. “Our first priority is to convince Pakistani companies to invest in this project because neither the provincial nor the federal government has the finances for […]

Major United States fund managers have tens of billion of dollars at stake in some of the most popular Chinese stocks on Wall Street, exposing them to potential losses should the White House move to delist Chinese firms from US exchanges. White House trade adviser Peter Navarro on Monday dismissed reports that the Trump administration […]

ISLAMABAD: The Federal Board of Revenue (FBR) missed revenue collection target for the first quarter of current fiscal year by a wide margin of Rs111 billion against the target of Rs1,071bn despite several measures and double-digit consumer inflation. The trend in revenue collection shows that the quantum of shortfalls is constantly increasing with each passing […]

KARACHI: Low savings rate is one of the main reasons for low domestic investments in the country, said State Bank of Pakistan (SBP) Governor Dr Baqir Reza, while speaking at the Institute of Business Administration on Monday. The governor shared the status of economy and elaborated on the actions taken by the SBP to improve […]

ISLAMABAD: Amid major revenue shortfalls, the government on Monday increased the price of liquefied petroleum gas (LPG) by more than 11 per cent while the rates of all other petroleum products remained unchanged for October to earn more than Rs4.2 billion in windfall revenue over lower international prices. The Oil and Gas Regulatory Authority (Ogra) […]

KARACHI: Karachiites could face power outages more than they suffered every day in the name of loadshedding, and those living in exempted areas could also undergo the same under a load management plan announced by K-Electric (KE) on Monday. The power company blamed the National Trans­mis­sion and Dispatch Com­pany (NTDC) for a reduced supply since […]

The State Bank of Pakistan granted an in-principle approval to NayaPay to operate as an Electronic Money Institution (EMI) in Pakistan, a press release issued by the company said on Monday. The approval will enable the company to “commence pilot phase of transactions in a controlled environment and under the SBP’s supervision to seek approval […]

Oil prices edged up on Monday after China’s factories unexpectedly ramped up production in September, easing concerns about demand at the world’s largest crude importer amid an ongoing trade war with the United States. Brent crude futures rose by 9 cents to $62 a barrel by 3am (GMT) while US West Texas Intermediate (WTI) crude […]

ISLAMABAD: The textile industry has complained to the Prime Minister Office about ‘non-implementation’ of the export-sector support package involving subsidised gas and electricity rates and tax breaks approved by the government and called upon the federal cabinet to take up the matter at its Oct 1 meeting. In letters to various ministries and the PM […]