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Cheap kerosene being mixed with petrol, diesel

KARACHI: (Web Desk) A number of fuel stations are selling petrol and diesel adulterated with cheap kerosene. Unaware motorists are paying full prices for these substandard fuels which could damage engines of their vehicles. The price of petrol is Rs74 and diesel Rs83 per litre while kerosene costs Rs44 per …

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FBR says tracing offshore companies a difficult task

ISLAMABAD: (Web Desk) While a joint investigation team is yet to be formed to probe the assets of Prime Minister Nawaz Sharif and his family following the Supreme Court judgement in the Panama Papers case, the Directorate Gen­eral of Intelligence and Invest­igation, Inland Revenue, Federal Bureau of Revenue, has said …

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IMF warns Pakistan, others of 30pc hike in oil import bill

WASHINGTON: (Web Desk) The International Monetary Fund (IMF) has warned Pakistan and other oil importers that because of an increase in global prices, their oil bills for 2017 will be almost 30 per cent higher than the last year. “Any further increases could undermine consumption, increase fiscal risks, and worsen …

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Unemployment increasing despite economic growth

ISLAMABAD: (Web Desk) Economic growth is gradually picking up to respectable levels but is still unable to absorb the surging number of job-seekers entering the labour market. The unemployment rate is on the rise, depriving a sizable segment of the population of its livelihood and preventing the harnessing of the …

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OCAC for deregulation of fuel pricing

KARACHI: (Web Desk) Petrol had not seen any improvement since the country went mono-grade (87 RON) in the early 2000s. Imports of 92 RON premier motor gasoline (PMG) commenced from Dec 1, 2016. Before this change, both imports and refinery production were of 87 RON. Imports can take place at …

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Inefficient ports threaten South Asia’s growth

ISLAMABAD: (Web Desk) South Asia has had outstanding economic growth in the last two decades and could grab a bigger share of international trade, but inefficiencies in its ports threaten to hinder progress and stop it from matching other regions like East Asia, said a new World Bank report ‘Competitiveness …

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Pakistan refuses ADB loan for railway as China becomes sole financier

ISLAMABAD: (Web Desk) Pakistan has refused part financing from the Asian Development Bank (ADB) for the $8 billion Karachi-Peshawar Railway Line (ML-1) after China said it wanted to fund the project single-handedly. “China strongly argued that two-sourced financing would create problems and the project would suffer,” Minister for Planning and …

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Full-day report: Rollover week weighs heavy on KSE-100 Index

ISLAMABAD: (Web Desk) The Pakistan Stock Exchange ended Thursday’s trading session on a negative note, with the benchmark KSE-100 index losing 345.81 points, or 0.69 per cent, by the close of the trading session to reach 49,481.70. Volumes were led by corporate banks as the benchmark index witnessed bearish activity …

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Full-day report: Market sees continuing bearish sentiment

ISLAMABAD: (Web Desk) The Pakistan Stock Exchange has ended Wednesday’s trading session on a negative note, with the benchmark KSE-100 index losing 76 points, or 0.15 per cent, by the close of the trading session to reach 49,708 points. Volumes were led by commercial bank scrips, followed by chemical and …

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Prices of 450 items reduced at govt stores

ISLAMABAD: (Web Desk) The Util­ity Stores Corporation (USC) launched the second phase of Ramazan Relief Package on Monday by reducing the prices of more than 450 items by up to 10 per cent. Earlier in the month, the USC reduced the prices of more than 700 items. How­ever, the prices …

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