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Four private sector companies step in LNG trade

ISLAMABAD: The ease-of-doing business plan, introduced by current government, has started yielding the required results with stepping in of four private sector companies for carrying out regulated activities of Liquefied Natural Gas (LNG) across the country. In a significant development, Oil and Gas Development Authority (OGRA) last week granted the first-ever marketing licences to two companies for undertaking regulated activities ... Read More »

Local wheat & grain milling witnessed 94.25pc growth in 5 months of FY 2020-21

ISLAMABAD: Domestic wheat and grains milling witnessed about 94.25 percent growth during first five months of current financial year as compared the grinding and milling of corresponding period of last year. During the period from July-November 2020-21, over 4.615 million tons of wheat and other grains were milled as compared the milling of 2.375 million tons of same period of ... Read More »

PM directs to take all necessary steps to increase exports on priority basis

ISLAMABAD: Prime Minister Imran Khan directed to take all necessary steps to increase exports on priority basis. Chairing the weekly review meeting of priority sectors, he called for the formulation of a comprehensive action plan to increase the exports of valuable items at large level. In the review meeting on economic outreach, the Prime Minister was briefed in detail about ... Read More »

Govt announces Rs1.95 per unit hike in power tariff

ISLAMABAD: The government has announced Rs 1.95 per unit increase in the power tariff, placing another burden on the already inflation stricken public. Federal Minister for Energy Omar Ayub announced the price hike in a press conference saying that the PML-N government had left landmines for the coming government. He said that PTI government will have to recover the deficit ... Read More »

Gold imports fall 52pc in 1H of FY21

ISLAMABAD: The gold imports into the country decreased by 52.17 percent during the first half of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-December (2020-21) were recorded at $4.385 million as compared to the imports of $9.168 million during July-December (2019-20), the data revealed. ... Read More »

Govt changes profit rates on National Saving Schemes certificates

ISLAMABAD: The Federal government has announced revised profit rates for National Saving Schemes certificates. According to the new rates, the profit on Regular Income Certificates has increased to 9%. Likewise, the profit rate has also been increased on Pensioners Benefit Accounts to 11.28% from 10.32%. The profit rate on the Special Savings Certificate has increased by one percent to 7.80%, ... Read More »

Rs213m for DLTL payments of non-Textile sector approved: Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood has said that Rs213 million for DLTL payments of non-Textile sector have been approved. In a tweet on Wednesday, these payments are now with State Bank of Pakistan (SBP) and will soon be disbursed to the relevant exporters. He further said government’s policy is not to put any ... Read More »

Gold price increases Rs300 to Rs112,850 per tola

ISLAMABAD: The price of 24 karat per tola gold increased by Rs300 on Tuesday and was sold at Rs112, 850 against its sale at Rs112,550 the previous day, Karachi Sarafa Association reported. The price of ten gram 24 karat gold also increased by Rs257 and was traded at Rs96,750 against its sale at Rs96,493 while ten gram 22 karat gold ... Read More »

Pharmaceutical exports increase 23.62pc in 1H of FY 2020-21

ISLAMABAD: The exports of pharmaceutical products from the country witnessed an increase of 23.62 percent during the first half of ongoing financial year (2020-21) as compared to the exports of corresponding period of last year. The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21) as against the export of US $112.238 million during July-December (2019-20), showing growth ... Read More »

CPEC projects heading toward progress on expedited pace: Chinese envoy

ISLAMABAD: Ambassador of China to Pakistan Nong Rong Tuesday said that the projects under China Pakistan Economic Corridor (CPEC) were heading in right direction and would continue to progress on expedited pace. Talking to Secretary Planning Development and Special Initiatives Mathar Niaz Rana here, the envoy said that CPEC was the flagship project that manifested the longstanding friendship between the ... Read More »

Haleeb Foods partners with Careem

LAHORE: Haleeb Foods (HFL) the pioneer dairy and beverage company of Pakistan has partnered with Careem, the Super App for the greater Middle East and Pakistan.  This partnership is a move to facilitate HFL employees with safe and convenient day to day travelling. A signing ceremony was held to mark the occasion at HFL, Head Office in Lahore.  Commenting on ... Read More »

Local POL production increases by 1.50pc during July-November

ISLAMABAD: Overall production of petroleum commodities has witnessed an increase of 1.50 percent during the first five months of current financial year 2020-21 as compared to corresponding period of fiscal year 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 3.76 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported. ... Read More »

Cutlery exports enhance 25.41pc in 1H of FY 2020-21

ISLAMABAD: The exports of cutlery from the country witnessed an increase of 25.41 percent during the first half of financial year 2020-21 as compared to the corresponding period of last year. The country exported cutlery worth US $59.478 million during July-December (2020-21) against the exports of US $47.428 million during July-December (2019-20), showing growth of 25.41 percent, according to the ... Read More »

Textile exports increase 7.79pc to $7.44b in H1; 22.72pc in December

ISLAMABAD: The exports of textile commodities witnessed an increase of 7.79 percent during the first half (H1) of the current fiscal year as compared to the corresponding period of last year. The textile exports were recorded at $7442.425 million in July-December (2020-21) against the exports of $6904.689 million in July-December (2019-20), showing growth of 7.79 percent, according to latest data ... Read More »

Govt increases petrol price by Rs3.20

ISLAMABAD: The federal government on Friday announced an increase in the prices of petroleum products with a Rs3.20 per litre increase in the price of petrol. The government has decided to revise the existing prices of petroleum products in view of the rising oil prices trend in the global market. According to the notification, the price of petrol has been ... Read More »

OGRA recommends Rs11.95 increase in petrol price

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended an increase in the price of petroleum products by up to Rs11.95 per liter from January 15. In a summary, OGRA has proposed hike in the price of petrol by Rs11.95 per liter and high-speed diesel by Rs9.57 per liter A summary has been sent to the federal government. The ... Read More »

Hafeez appreciates sale of maximum possible spectrum

ISLAMABAD: Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of the Advisory Committee for the release of Next Generation Mobile Services (NGMS) spectrum in Pakistan held at the Finance Division today. Federal Minister for Science and Technology Fawad Chaudhry, Federal Minister for Information Technology and Telecommunication Syed Amin ul Haque, Adviser to the PM on ... Read More »

OGRA issues LNG import licenses to private companies

ISLAMABAD: Pakistan allows its private sector to import Liquefied Natural Gas (LNG) as the oil and gas regulatory body has issued import licenses to at least two companies, ARY News reported. Pakistan’s Oil and Gas Regulatory Authority (OGRA) has reportedly issued today 10-year term LNG importing licenses to at least two private sector companies. The authorities claim private sector import ... Read More »

LSM growth up by 14.5pc in November 2020

ISLAMABAD: Large Scale Manufacturing (LSM) in Pakistan grew by 14.5 per cent in November 2020 as compared to the same month in 2019, the fresh data released by Pakistan Bureau of Statistics (PBS). The LSM index output was increased by 14.46 per cent for November, 2020, compared to November, 2019 and 1.35 per cent when compared to October 2020. As ... Read More »

Hafeez for strict price monitoring of basic food items

ISLAMABAD: Federal Minister for Finance & Revenue, Dr Abdul Hafeez Shaikh has directed the provincial governments and relevant departments to continue the momentum of strict price monitoring for provision of basic food items at affordable prices across the country. Dr Abdul Hafeez Shaikh issued these directions while chairing the meeting of the National Price Monitoring Committee (NPMC) on Monday. The ... Read More »