KARACHI: K-Electric has approached the National Electric Power Regulatory Authority (Nepra) to increase the power tariff by Rs11.33/unit on account of fuel charges adjustment (FCA) for May. Per applicable tariff across the country, fuel adjustment is reviewed every month and is applicable on consumer bills for only one particular month. The major impact on the … Read more
KARACHI: K-Electric has announced revised load shed schedule for customers effective from July 1, to provide relief to customers experiencing nighttime load shed, an official said. The shortfall in K-Electric territory has increased from an average of 250MW to 350MW to almost 450MW to 500MW due to rising temperatures and curtailed fuel supply. K-Electric spokesperson … Read more
KARACHI: The Pakistan equity market on Friday showed recovery amid surging global crude oil prices and peculations on likely release of $2 billion tranche under the International Monetary Fund (IMF) programme. Ahsan Mehanti at Arif Habib Corp said that stronger rupee, surging foreign exchange reserves on Chinese inflows and the Federal Board of Revenue (FBR) … Read more
KARACHI: A grand National Day celebration took place in Karachi to celebrate the national day of Philippines and 73rd anniversary of the establishment of Philippines-Pakistan bilateral relations, a statement said on Friday. Honorary Consul General of the Philippines in Karachi and Pakistan Philippines Business Forum Patron Dr Imran Yousuf along with Philippines Embassy, Islamabad Charge … Read more
LAHORE: The continuous surge in the prices of petroleum products by the government to meet its huge expenses will collapse the industry and make the people miserable. In a statement, Punjab Dyes and Chemicals Merchants Association Chairman and Lahore Chamber of Commerce and Industry (LCCI) former senior vice president Khawaja Khawar Rashid said that the … Read more
KARACHI: Increasing population, haphazard extension of the landmass, rise in number of vehicles and lack of public transport are major reasons for the Federal Capital’s traffic woes, a study showed. The Islamabad Policy Research Institute (IPRI) conducted a first of its kind survey for a thorough assessment of the Federal Capital’s traffic issues. In the … Read more
KARACHI: The Pakistan bourse rebounded on Thursday as investors weighed the approval of the federal budget to resume the International Monetary Fund (IMF) bailout programme. Ahsan Mehanti at Arif Habib Corp said that rupee recovery, reports of likely approval of Saudi oil facility of $3.6 billion, $2.3 billion loan agreement with a consortium of Chinese … Read more
KARACHI: The Pakistani rupee recovered for the third consecutive session against the dollar to reach Rs204.85 on Thursday, as the government expressed the hope to successfully complete the International Monetary Fund (IMF) programme. The local unit gained 26 paisas to close at Rs204.85 to the dollar from Wednesday’s closing of Rs205.11 in the interbank foreign … Read more
KARACHI: Due to persistent shortfall round the clock, the K-Electric is compelled to conduct load-shedding even during the night hours, an official said. The leadership of K-Electric including its Chief Executive Officer Moonis Abdullah Alvi met with the Provincial Minister of Energy Imtiaz Ahmed Shaikh and other representatives of political parties. The K-Electric senior officials … Read more
KARACHI: The Pakistan equity market remained in a red territory on Wednesday owing to rumors of the State Bank of Pakistan (SBP) likely measures for the banking sector. An analyst at Pearl Securities said that profit taking was observed in the banking sector owing to the rumor that the SBP is considering a one-time portfolio … Read more
KARACHI: The Pakistani rupee gained 1.76 against the dollar to reach Rs205.11 on Wednesday, as the government expressed the hope to successfully conclude the International Monetary Fund (IMF) programme, dealers said. The local unit gained Rs1.76 to close at Rs205.11 to the dollar from Tuesday’s closing of Rs206.87 in the interbank foreign exchange market. The … Read more
KARACHI: The Pakistan bourse remained under pressure on Tuesday after the Prime Minister warned of tough International Monetary Fund (IMF) conditions besides surging inflation in the country. Ahsan Mehanti at Arif Habib Corp said that speculations ahead of the State Bank of Pakistan (SBP) policy announcement due next week and likely SBP policy tightening next … Read more
KARACHI: Deceptive marketing practices have a direct impact on consumers and the competitors of the businesses and therefore businesses must be truthful while marketing their products, an official said. The Competition Commission of Pakistan (CCP) Chairperson Rahat Kaunain Hassan recommended businesses to “Show what you sell and say what you mean,” which can make them … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has initiated the process of constituting the panel of audit firms to conduct statutory audits of certain entities registered or licensed with it, a statement said on Tuesday. The SECP, under its act and administered legislation, is required to maintain and notify a panel of auditors, … Read more
KARACHI: The Pakistani rupee gained Rs1.07 to reach Rs206.87 against the dollar on Tuesday, as the market celebrated the news of likely inflows from the International Monetary Fund (IMF), dealers said. The local unit gained Rs1.07 to close at Rs206.87 to the dollar from Monday’s closing of Rs207.94 in the interbank foreign exchange market. The … Read more
KARACHI: The Pakistani rupee fell 46 paisas to reach Rs207.94 against the dollar on Monday as the foreign exchange reserves of the country dropped to an alarmingly low level. The local unit shed 46 paisas to close at Rs207.94 to the dollar from Friday’s closing of Rs207.48 in the interbank foreign exchange market. The dealers … Read more
KARACHI: Pakistan needs to tap the export potential of Thar coal and also ensure the usage of coal for power generation in a sustainable, environment-friendly manner to limit the impact of imported liquid fuels on the national economy. These views were expressed by the engineering and environmental experts at a seminar organised by the Citizens … Read more
LAHORE: The European Union’s Generalised System of Preferences plus (GSP Plus) monitoring mission has discussed in detail the developments and progress made on the implementation of 27 international conventions concerning GSP+ with the All Pakistan Textile Mills Association (APTMA) leadership. The mission, including Guido Dolara, director general, Trade Service; Guus Houttuin, External Action Service; Andreas … Read more
KARACHI: The Pakistan stocks nosedived on Friday, as the government surprised the market by announcing a 4 per cent super tax on all sectors and an additional 6 per cent tax on 13 sectors specifically. The accumulative super tax stands at 10 per cent. However, it will be a one-off tax for FY22/23, analysts said. … Read more
KARACHI: The K-Electric Limited (KEL) has requested the National Electric Power Regulatory Authority (NEPRA) to increase the power tariff by Rs11.33/unit on account of fuel charges adjustment (FCA) for May, a statement said on Thursday. As per the applicable tariff across the country, fuel adjustment is reviewed every month and is applicable on the consumer … Read more
KARACHI: The benchmark KSE-100 Index continued its bullish trend throughout the session, as the international oil prices fell near 100/bbl. The index continued with the positive trend, as it touched an intraday high of 42,983 but eventually settled to close at 42,717, gaining 259 points, analysts said on Thursday. An analyst at Pearl Securities said … Read more
KARACHI: The benchmark KSE-100 Index witnessed a bullish trend on Tuesday, as the finance minister positively hinted at the resumption of the International Monetary Fund (IMF) programme within two days, analysts said. An analyst at Pearl Securities said the possibility of getting a $1 billion loan tranche triggered the investors’ sentiment during the day. “Cumulatively, … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has requested Federal Minister for Planning and Development and Special Initiatives Ahsan Iqbal to change the theme of the “Turnaround Pakistan Conference” to be held on June 28, 2022 in Islamabad and rename it “Rapid Economic Recovery Conference” and deliberate on it seriously with implementation measures, … Read more
KARACHI: The State Bank of Pakistan (SBP) has said that the financial system of the country remained resilient during the calendar year 2021. The SBP on Tuesday issued its annual flagship publication, the Financial Stability Review (FSR) for CY21. The review presents the performance and risk assessment of various segments of the financial sector, including … Read more
KARACHI: The rupee continued downward movement to make fresh lows of Rs211.48 against the dollar on Tuesday, dealers said. The exchange rate recorded a decline of Rs1.52 to Rs211.48 against the greenback from the previous day’s closing of Rs209.96 in the interbank foreign exchange market. The local currency is continuously depreciating against the dollar for … Read more
ISLAMABAD: Pakistan needs a long-term sustainable policy plan of action and one that should not be interrupted, owing to political considerations, Federal Minister for Planning and Development and Special Initiatives Prof Ahsan Iqbal said. Addressing a seminar titled, Grand National Dialogue on “Unlocking Pakistan’s Economic Potential,” organised by the Islamabad Policy Research Institute (IPRI), he … Read more
ISLAMABAD: The Senate Standing Committee on Finance had invited cellular mobile industry in their meeting on June 17 to get an input on the budget proposals related to the telecom industry. The representatives of three mobile operators provided suggestions on the rationalisation of the general sales tax (GST) on telecom services, as well as a … Read more
KARACHI: Gold extended gains in the local market to an all-time high of Rs145,800/tola on Saturday amid rupee weakening due to prevailing economic crises in the country. Gold 24kt gained Rs300/tola and Rs258/10 grammes to hit Rs145,800/tola and Rs125,000/10 grammes, respectively. The precious metal jumped to a record high on the back of continuous decline … Read more
