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Govt to resume talks with Qatar likely to cut LNG import

ISLAMABAD: Pakistan is considering to request Qatar to reduce its liquefied natural gas (LNG) supplies under a ‘take or pay’ long-term contract as its energy demand tumbles amid an economic slowdown. According to media, the proposal for fresh talks with Qatar had come up for discussion at a meeting of the Economic Coordination Committee (ECC) of the cabinet on November ... Read More »

Draft prepared for amendments to NAB laws

ISLAMABAD: The federal secretaries have prepared an amended draft for National Accountability Bureau’s (NAB) law that would soon be presented before the prime minister for approval. The amendment recommends that NAB’s law be applied to over Rs500 million corruption cases, suggesting that rather than giving a role to the president and NAB chairman for appointment of bureau’s prosecutor general, the ... Read More »

Govt reduces petrol price by 25 paisas per liter

ISLAMABAD: Government has announced to reduce the prices of petroleum products. The new prices will be applicable from December 1. Earlier, Oil and Gas Regulatory Authority (Ogra) had sent a summary of price reduction to the Petroleum Ministry. Ogra had proposed to reduce the price of petrol by 25 paisas. The rate of diesel is reduced by Rs2.40, the price ... Read More »

Govt to import Euro-IV fuel to tackle smog, pollution: PM

LAHORE: Prime Minister Imran Khan has said that the government will import Euro-IV fuel to deal with the issues of smog and air pollution in the country. Addressing a press conference, PM Imran said that pollution will reduce up to 90 per cent by using Euro-IV fuel. In a step to reduce air pollution in megacities, the government will introduce ... Read More »

Electric vehicles manufacturer BYD is coming to Pakistan soon

KARACHI: World’s largest electric vehicles manufacturer BYD is all set to enter Pakistan. The announcement was made by Pakistan Electric Vehicles & Parts Manufacturers and Traders Association (PEVPMTA) General Secretary Shaukat Qureshi while talking to local media. “Toyota, the world auto giant, for the first time signed an agreement on November 7, 2019, to develop Electric Vehicles with BYD, the ... Read More »

Car sale, production dips by 44.06pc

ISLAMABAD: The sale and production of cars dipped by 44.06 percent and 43.34 percent respectively during first four months of financial year 2019-20 compared to corresponding period of last year, according to data of Pakistan automobile Manufacturing Association (PAMA). During the period under review, as many as 40,586 cars were sold against the sale of 72,563 units while the production ... Read More »

OGRA increases LPG price by Rs2 per kg

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Friday increased the price of Liquefied Petroleum Gas (LPG) by Rs2 per kilogram for the month of December. According to a notification put out by the regulator, the price of an 11.8 kilogram cylinder has gone up by Rs18 to Rs1514 from Rs1496. Whereas, the new rate of a commercial cylinder ... Read More »

Petroleum prices likely to be decreased for December

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has proposed a decrease in petroleum prices to the federal government for the month of December. According to sources, the regulator has recommended cutting petrol price by Rs 0.25 per litre and Rs 0.83 per litre decrease in the kerosene oil. According to the summary, the OGRA has recommended a decrease of ... Read More »

CAA introduces modern technology for boarding passes at airports

KARACHI: Civil Aviation Authority (CAA) has introduced modern technology to facilitate passengers for getting rid of huge queues to get their boarding passes at airports. Passengers will get the facility for grabbing boarding passes by themselves after the installation modern machines imported from France. The CAA authorities told ARY News that more than 15 modern machines are being installed initially ... Read More »

Govt expedites work on TAPI project: Hammad Azhar

ISLAMABAD: Turkmenistan’s ambassador to Pakistan Atadjan Movlamov called on Federal Minister for Economic Affairs Hammad Azhar. Talking to the ambassador, Hammad Azhar assured him that the power ministry is expediting work on Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project. He said that the completion of the project would cut down the cost for LNG substantially, which would further bring down the average price ... Read More »

State Bank’s reserves rise $240m to $8.68b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $240 million to $8.68 billion during one week ending on November 22. However, reserves of commercial banks slipped by $120mn to $6bn during the same period. The country’s total reserves have also rose to over $15.57bn. It is pertinent to mention here that SBP’s reserves had ... Read More »

ECC approves Rs6b for Utility Stores Corporation as subsidy of essential commodities

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has raised the minimum support price of wheat from the previously announced Rs 1350 per 40 kg to Rs1365 per 40 kg in view of representations from various farmers and growers’ associations as well as the federal cabinet and the National Assembly Special Committee on Agricultural Products which had proposed a reconsideration ... Read More »

NDRMF inks Rs1.6bn deal with GB govt

ISLAMABAD: National Disaster Risk Management Fund (NDRMF) has signed two grant implementation agreements for extending grant financing up to Rs746.587 million to the Government of Gilgit Baltistan (GB) for the projects related to rescue services and flood protection. The agreements’ signing ceremony was held at NDRMF Office Islamabad on Thursday. The duration of the projects are as follows: 12 months ... Read More »

Volume of Pakistan, Qatar bilateral trade up 63pc

ISLAMABAD: The volume of bilateral trade between Pakistan and Qatar increased from $1.59 billion (5.8 billion Qatari Riyals) to $2.61 billion (9.5 billion Qatari Riyals) during the year 2018, projecting 63 per cent growth compared to 2017. The growth in bilateral trade was acknowledged during a recent meeting between Special Assistant to Prime Minister (SAPM) on Overseas Pakistanis and Human ... Read More »

PM approves establishment of Construction and Infrastructure Board

ISLAMABAD: Prime Minister Imran Khan has approved the establishment of the Construction and Infrastructure Board to address the issues being faced by the construction industry. PM approved decision during a meeting with the delegation of the Construction Association of Pakistan, headed by Eng. Arshad Dad Khan, who called on him at PM Office. The Prime Minister said that the board ... Read More »

Govt committed to revive textile sector: Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood on Wednesday said that the government was making all-out efforts to boost textile sector in the country. Talking to a delegation of All Pakistan Textile Mills Association (APTMA), who called on the advisor at his office, Razak Dawood said that the government would soon release funds under the ... Read More »

Pakistan can provide a new dimension to int’l maritime trade: Ali Zaidi

LONDON: Federal Minister for Maritime Affairs Syed Ali Haider Zaidi Tunderlined that Pakistan could provide a new dimension to the international maritime trade by linking Central Asia, South Asia and the Middle East via sea route. Syed Ali Haider Zaidi said this in his address and country’s statement at the 31st IMO Assembly Session in London. The minister on the ... Read More »

Pakistan promoting defence, trade ties with African countries: Shah Mehmood Qureshi

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi on Wednesday has said that Pakistan and other countries in the region are facing challenges including security threats. Addressing a two-day Envoys’ Conference titled “Engage Africa”, the minister said Pakistan is willing to promote defence and trade relations with African countries, adding, “We jointly want to enhance security situation in the region.” Pakistan Army ... Read More »

Rice exports increase by 44pc in first four months of FY20

ISLAMABAD: Rice exports from the country during first four months of current financial year grew by 43.76% as compared to the exports of the corresponding period of last year. According to Pakistan Bureau of Statistics, during the period from July-October, rice worth $633.739 million was exported as compared to the export of $440.828 million in the same period last year. ... Read More »

Pakistan desires to expand trade ties with Belarus: NA speaker  

ISLAMABAD: National Assembly Asad Qaiser on Tuesday said that Pakistan desires to expand economic and parliamentary relations with Belarus. Talking to Belarus’s Deputy Foreign Minister Andrei Dapkiunas, who called on him today, Asad Qaiser said that Pakistan attaches great importance to its relations with Belarus. Referring to the significance of CPEC, the speaker said Pakistan wants to extend this project ... Read More »