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Business

Rs9bn credit for Sialkot-Lahore motorway approved

ISLAMABAD: (Web Desk) The Economic Coordination Committee (ECC) of the Cabinet on Friday approved the issuance of Rs9 billion standby credit for the Sialkot-Lahore motorway, one-month salary to Pakistan Steel Mills’ (PSM) employees and extension in incentives for exporters. In a meeting presided over by Finance Minister Ishaq Dar, the …

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Full-day report: Stocks close lower on last trading session of the week

ISLAMABAD: (Web Desk) The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index lost 331 points (0.69pc) in yet another session marked by low trading volumes. 100 Index volumes fell sharply once again, clocking at 45.3 million compared to 88.84m a day earlier; relatedly, the value of shares traded was also markedly …

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Karachi port users lament congestion surcharge

KARACHI: (Web Desk) Port users are complaining that shipping lines operating at the Karachi port have continued to impose congestion surcharge despite normal traffic flow.Naseem Ashkar, former senior vice-president of the Karachi Customs Agents Association, argued that shipping lines should seek such charges from the port while importers should only pay …

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Prices of petrol, diesel increased by Re1

IBLAGH: (Web Desk) The government on Friday revised petroleum prices and increased the price of petrol and diesel by Re1, where as the prices of other petroleum products will remain unchanged, reported Radio Pakistan.Finance Minister Ishaq Dar, addressing a press conference in Dubai, said the price of petrol and diesel …

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Oil prices likely to rise up to Rs13 per litre

ISLAMABAD: (Web Desk) Oil prices are likely to rise up to Rs13 per litre from April 1 this year following fluctuations in global crude prices.The Oil and Gas Regulatory Authority (Ogra) on Thursday recommended to the federal government to increase prices of petroleum products at the beginning of next month. Final …

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Pakistan needs new crop of entrepreneurs: SBP governor

KARACHI: State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra has said that Pakistan’s exporters have earned a lot and now they are not ready to work hard. “Pakistan needs new crop of entrepreneurs to increase its exports. We (the SBP) will support new entrepreneurs,” he said while talking to …

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Confusion remains in coal power tariff

ISLAMABAD: (Web Desk) The National Electric Power Regulatory Authority (Nepra) has come a long way improving its performance and capacity. However, it is an issue of glass being half full and half empty. We would like to raise and discuss some issues in Nepra’s tariff procedures and present a case study …

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Despite govt support, Pakistan’s textile industry lags behind

KARACHI: (Web Desk) We often hear that Pakistan’s textile exports are not growing and that the country is lagging behind especially compared to Bangladesh. But why is it that the industry that receives so many incentives from the government is barely able to sustain itself?Considering that the textile industry contributes about …

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Pakistan to get 4.5G services by June 2017

ISLAMABAD: (Web Desk) Wi-tribe has announced the launch of 4.5G services, for the first time in Pakistan, which will be made operational by June 2017 in five cities of the country.According to a private news channel, wi-tribe revealed a $15 million contract and strategic partnership with China based Huawei for advanced …

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Granted $6.4b in loans, Pakistan fails to utilise $4.6b

ISLAMABAD: (Web Desk) Pakistan has failed to utilise $4.6 billion or almost three-fourths of the $6.4 billion in loans the Asian Development Bank (ADB) gave for various projects, and is paying extra charges on ‘idle money’. Usual bureaucratic inefficiencies, startup delays and extremely complex procedures defined by the ADB for awarding …

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