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Petrol price reaches Rs68.4 per litre after Rs1.77 hike

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ISLAMABAD:  Finance Minister Ishaq Dar has announced an increase of in the prices of petroleum products. “The Oil and Gas Regulatory Authority (OGRA) had forwarded a summary to the Ministry of Petroleum and Gas, seeking a Rs1.80 hike in the price of petroleum products,” Dar said at a press conference …

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Pak, Iran, Turkey establishing road, rail networks to boost trans-regional trade

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ISLAMABAD: In a major plan to develop rail and road networks for boosting trans-regional trade, Pakistan-Iran-Turkey road and rail corridor is being operationalised in order to enhance the regional connectivity for boosting trans-regional trade. A senior official at the ministry of the communications informed Pakistan Today that Pakistan, Turkey and …

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Pensioners to get savings returns from banks

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KARACHI: (Web Desk) The State Bank of Pakistan (SBP) has allowed clearing house membership to the Central Directorate of National Savings (CDNS), which will enable widows and senior citizens to deposit National Savings-issued instruments directly into their bank accounts anywhere in Pakistan. All banks would now accept profit coupons and …

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PM announces Rs180bn incentive package for export sector

ISLAMABAD: (Web Desk) Prime Minister Nawaz Sharif has announced incentives worth Rs180 billion in a bid to boost Pakistan’s sagging exports. He made the announcement at a ceremony attended by members of the domestic business community in Islamabad Tuesday afternoon. The package includes the removal of customs duty and sales …

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Pakistan´s once-booming textile industry struggles to bounce back

FAISALABAD: (Web Desk) As Pakistan slowly emerges from a long-term power crisis, its once booming textile sector is scrambling to find its feet — but high energy costs and a decade lost to competitors mean recovery is far from assured. Energy production was severely depressed for more than 10 years …

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Iran to receive first Airbus plane in days

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TEHRAN: (Web Desk) Iran is to take possession of the first aircraft this week in a huge order from Airbus placed after the lifting of international sanctions, state carrier Iran Air said Sunday. “This aircraft has received its certificate of registration and an Iran Air team is in place to …

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ECC approves tax exemption for Orange Line Metro Train Project

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ISLAMABAD: (Web Desk) The Economic Coordination Committee (ECC) of the cabinet Friday approved exemptions from withholding tax beyond 6 percent of E&M contract price and from tax duties on import of equipment to be installed for the Lahore Orange Line Metro Train Project. The summary to this effect was sent …

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Sugar prices continue to rise despite surplus stock

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KARACHI: (Web Desk) The price of sugar has continued to edge higher despite huge stocks. The wholesale price of sugar, which was Rs57 a kilogram when sugarcane crushing began in November 2016, has now risen to Rs62 per kg. The decision of the Economic Coordination Committee (ECC) taken in the …

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