Business

ISLAMABAD: Pakistan on Saturday accepted an LNG cargo at the highest-ever price of $30.6 per Million British Thermal Units (mmbtu) from Qatar Petroleum on the grounds of averting a possible gas crisis in the upcoming peak winter month. The Pakistan LNG Limited (PLL) had floated emergency bids for two cargoes to be supplied in November, as the firms involved, Gunvor …

KARACHI: Inflows through Roshan Digital Account (RDA) reached $2.7 billion in October since its launch in September 2020 reflecting the growing confidence of overseas Pakistanis despite Covid-19 related slowdown across the globe. Of the total over 68 per cent or $1.834bn was invested in high-return Naya Pakistan Certificates (NPCs) during this period. In dollar terms, the three-, six- and 12-month …

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) closed at 47,296 points on the last day of the week, up 1,111 points or 2.4 per cent, on a week-on-week basis. According to Arif Habib Ltd, trading commenced on a positive note on Monday because the government was able to convince the Tehreek-i-Labbaik Pakistan to call off its protests. …

KARACHI: The federal government is expecting surplus sugar this year, but the situation in Sindh in terms of retail price of the commodity is unlikely to be changed as the provincial government of the Pakistan Peoples Party is delaying the sugar cane crushing only to discredit the Pakistan Tehreek-i-Insaf-led set-up. The forecast of the sugar cane crop and apprehension about …

ISLAMABAD: Pakistan and Iran have agreed to take measures to expand the annual trade exchanges to $5 billion by the year 2023. “Understanding of the new trade target was reached during the ninth meeting of Iran-Pakistan Joint Trade Committee held in Tehran,” said a commerce ministry official announcement released on Saturday. Iranian Minister of Industry, Mines and Trade Reza Fatemi …

ISLAMABAD: The state-run Pakistan LNG Limited (PLL) on Friday received yet another set of most expensive bids for two cargoes of liquefied natural gas (LNG) for delivery in third and last week of the current month. Earlier this week, PLL had invited emergency bids to make up for the sudden gas shortage caused by default on the part of two …

ISLAMABAD: The government on Friday announced the minimum support price (MSP) of Rs1,950 per 40kg for wheat crop 2021-22. Speaking at a news conference in Islamabad, Minister for National Food Security and Research Syed Fakhr Imam said the new support price — which is Rs150 more as compared to last year’s support price of Rs1,800 — will incentivise farmers to …

ISLAMABAD: The Nati­onal Electric Power Regu­latory Authority (Nepra) on Friday imposed a fine of Rs26 million on Faisalabad Electric Supply Company (Fesco) on charges of negligence, resulting in fatal incidents during July 2019 to January 2021 period. In an announcement, the regulator said it had taken notice of reports of 17 deaths in different electrocution incidents during the said period. …

ISLAMABAD: Inflation measured through Sensitive Price Index (SPI) posted an increase of 0.67 per cent for the week ending on Nov 4, driven by a sharp rise in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. This is the fifth consecutive week that has witnessed an increase. In October, the highest …

ISLAMABAD: To meet another requirement of the IMF programme, the National Electric Power Regulatory Authority (Nepra) on Friday allowed the federal government to notify Rs1.68 per unit increase in base power tariff for all residential consumers and Rs1.39 per unit for all other consumer categories with effect from November 1. The higher tariff would be applicable across the country for …