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Business

Tax collection fell 5.8pc in November

ISLAMABAD: The revenue collection fell around 5.8 per cent year-on-year in November to Rs212 billion, according to provisional figures available. In October, the revenue collection stood at Rs233.7bn, a shortfall of Rs22.3bn against the target of Rs256bn. The shortfall was Rs59bn in the first quarter (July to September) of this …

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Petrol prices increased by Rs.2 per litre

ISLAMABAD:  The government has revised the petroleum prices from today. Addressing news conference in Islamabad on Wednesday, Finance Minister Ishaq Dar said the prices of kerosene oil and light diesel oil have been kept unchanged, while petrol and high-speed diesel prices have been increased. He said petrol prices have been …

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Ogra proposes up to 9.4pc increase in POL prices for December

ISLAMABAD: (Web Desk) The prices of all the major petroleum products are set to go up by up to 9.4 per cent across the country while electricity rates would increase by 48 paisas per unit for consumers in Karachi. At a public hearing on Tuesday, the National Electric Power Regulatory …

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Dollar strenghtens against rupee

ISLAMABAD: (Web Desk) IN the local currency market, the rupee/dollar parity remained stable in interbank dealings despite extensive pressure in the open market. Amid fluctuations, since April, the rupee, being in a tight spot, continued to slide against the dollar in the open market since the start of 2016. The rupee …

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Fish exports increase 14 per cent in four months

ISLAMABAD: (Web Desk) The exports of fish and fish preparations from the country witnessed increase of 13.87 percent during the first four months of the current fiscal year compared to the corresponding period of last year. The exports of fish and fish preparations from the country were witnessed at 114.787 …

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State Bank maintains main policy interest rate at 5.75 percent

KARACHI: (Web Desk) The State Bank of Pakistan announced its monetary policy on Saturday. It was decided that interest rate for the next two months will be maintained at 5.75 percent. Inflation rates have increased, the State Bank maintained, adding that inflation rate in October this year remained at 4.2 …

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Four-day IDEAS 2016 concludes in Karachi

KARACHI: (Web Desk) A four-day International Defence Exhibition and Seminar (IDEAS) 2016 concluded here at the Expo Center, Karachi on Friday, with several defence MoUs signed during it. In the exhibition arranged by Defense Export and Promotion Organization under the theme of “Arms for Peace,” as many as 90 delegates …

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Import of Indian agriculture commodities ‘stopped’

LAHORE: (Web Desk) The Department of Plant Protection (DPP) has ‘halted’ import of cotton and other agriculture commodities, including vegetables, via the Wagah border crossing and Karachi port from India and issuing permits for future imports as tensions between the two countries rise to a new peak after Indian troops …

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China to make extra $8.5 bn investments in Pakistan rail, energy

LONDON: (Web Desk) Pakistan has secured an additional $8.5 billion of investment from Beijing as part of the countries’ joint energy, transport and infrastructure plan, Planning Minister Ahsan Iqbal said on Wednesday. That is on top of the $46-billion China-Pakistan Economic Corridor (CPEC) project, which focuses on road building and energy …

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Indian rupee hits record low

MUMBAI: (Web Desk) The Indian rupee fell to a record low of 68.8650 on Thursday, pressured by a rallying US dollar, capital outflows from emerging markets, and worries about the country’s demonetisation drive. Despite repeated interventions by the central bank to slow the slide, the rupee breached its previous low of 68.85 …

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