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Business

Gold price dips

KARACHI: (Web Desk) The price of gold could not sustain its upward movement after going up by Rs 428 per 10 grams and Rs 500 per tola in the aftermath of Donald Trump’s win in the US presidential election. The price of 10-gram gold has declined by Rs1,371 since Nov …

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Plan to set up five more LNG terminals

LAHORE: (Web Desk) The petroleum ministry is working on proposals for the construction of five more terminals at the Gwadar and Karachi ports for handling, regasification, storage, treatment and processing of 3,000 million cubic feet per day of liquefied natural gas (LNG) it plans to import by 2018. At present, the …

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Govt paid Rs65b in markup on financing for power firms

ISLAMABAD: The government has paid Rs65 billion in markup on the Rs136.45-billion syndicated term financing facility taken to repay debt of state-owned power distribution companies. The interest was being paid from the revenues collected by the distribution companies from power consumers in the shape of debt servicing surcharge. The disclosure …

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NO INCREASE IN GAS PRICES, GOVT ADVISES OGRA

ISLAMABAD: The government has decided not to increase the gas price for all categories of domestic consumers in current financial year 2016-17 even after the letter got from Oil and Gas Regulatory Authority (OGRA) seeking increase in gas price. In a letter written to petroleum ministry, OGRA had recommended to …

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IP pipeline: Ministry seeks to hold fresh price talks with Iran

ISLAMABAD: The Ministry of Petroleum and Natural Resources is seeking the green light from the Economic Coordination Committee (ECC) for resuming stalled negotiations with Iran on laying a gas pipeline between the two countries. The ministry will look for a further reduction in the gas import price and extension in …

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Punjab to impose property tax on all vacant plots

LAHORE: The government of Punjab has decided to enforce property tax on all vacant plots across the province, officials say. The Punjab Excise and Taxation (E&T) Department has already completed surveys in major cities including Lahore, Faisalabad, Multan and Gujranwala and identified about 250,000 vacant plots that will come under …

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Chinese ship, trade convoy reach Gwadar port

GWADAR: The first trade convoy carrying Chinese goods for export through the western route of the China-Pakistan Economic Corridor (CPEC) and a Chinese ship arrived at the port here on Friday. Official sources confirmed the anchoring of the ship at the port and said another vessel was expected to arrive …

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Finance minister vows to support Railways upgradation

ISLAMABAD:  Federal Minister for Finance Ishaq Dar on Wednesday chaired a meeting to review the financing arrangements of the “Up-gradation of the Main-Line-1 (ML 1) of Pakistan Railways,” one of the early harvest projects of the China Pakistan Economic Corridor (CPEC). Minister for Railways Khawaja Saad Rafique and Minister for …

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World Bank to provide technical assistance for developing tariff policy

ISLAMABAD: World Bank has agreed to provide technical assistance to Pakistan for the development of a new tariff policy structure. A high-level World Bank delegation led by its Country Director Patchamuthu Illangovan and Senior Director, Trade and Competitiveness Ms Anabel Gonzalez here on Tuesday met Minister for Commerce Engineer Khuram …

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Gwadar-Quetta road to be completed next month

LAHORE: The development work on the China-Pakistan Economic Corridor (CPEC) was in full swing and the Gwadar-Quetta road would be completed by next month, which was ahead of schedule, said Federal Minister for Planning, Development and Reform Ahsan Iqbal. Speaking at the inauguration of the International Business Conference and Exhibition …

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