Business

ISLAMABAD: For ensuring diesel availability in the harvesting season amid volatile international market, the government on Friday allowed an increase in premium charged to Pakistani importers by spot traders for three months i.e. April-June. The decision to this effect was taken at a hurriedly called special meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance …

KARACHI: Honda Atlas Cars Ltd (HACL) has increased the prices of various models by Rs250,000-400,000. As per circular issued to the authorised dealers, the new price of Honda City 1.2L MT and CVT models is Rs3.129m and Rs3.249m, up by Rs400,000 and Rs300,000. City 1.5L CVT, 1.5L City Asp MT and 1.5L Asp CVT now carry new prices of Rs3.446m, …

KARACHI: The private sector credit off-take jumped by 155 per cent to Rs911 billion during the July-mid March period compared to Rs357bn in the same period of last fiscal year, data shared by the State Bank of Pakistan (SBP) showed on Friday. The increase in borrowings indicates higher economic activities that could lead to achieving the growth target set by …

KARACHI: As Finance Minister Shaukat Tarin on Friday approved a 10 per cent tax cut on the import of edible oil for April and May, the prices of ghee and cooking oil have already reached close to Rs500 per kg/litre ahead of Ramazan due to soaring palm oil rates and rupee devaluation against the dollar. The prices of branded ghee …

KARACHI: The disbursement of loans for low-cost housing witnessed the highest increase of Rs9.3 billion in February FY22, highlighting no uncertainty despite the ongoing political crisis in Islamabad, data released by the State Bank of Pakistan (SBP) showed on Thursday. Total disbursements under the Mera Pakistan Mera Ghar (MPMG) reached at Rs53.074bn at the end of February 2022, the SBP …

ISLAMABAD: Confirming that the tax amnesty scheme for the industrial sector required ‘further discussions’ with the International Monetary Fund (IMF), the finance ministry is hoping to take its case to the Fund’s executive board towards the end of next month. In a statement issued here, the ministry said that complete details of the relief package announced by the prime minister, …

KARACHI: A massive outflow of $869 million week-on-week mainly for debt repayments dragged the foreign exchange reserves of the State Bank of Pakistan (SBP) below the $15 billion mark for the first time in almost a year. The continuous decline in foreign exchange reserves is adding to the woes of the government which is already facing a record current account …

BANGKOK: A Vietnamese man who tried to row 2,000 kilometres from Thailand to India to see his wife was in custody on Thursday after being rescued off the Thai coast, a senior navy official told AFP. Ho Hoang Hung set off from the Thai holiday island of Phuket in an inflatable rubber dinghy, equipped with water and instant noodles but no …

KABUL: Beijing welcomes Afghanistan’s active participation in the Belt and Road Initiative, a global infrastructure plan proposed by China, and is willing to push for extending the China-Pakistan Economic Corri­dor (CPEC) to Afghanistan, Chinese Foreign Minister Wang Yi said on Thursday as he made a surprise visit to Kabul. Wang met acting Afghan Foreign Minister Amir Khan Muttaqi to discuss …

KARACHI: The prices of chicken and mutton notified by Commissioner Karachi on March 18 have yet to provide any relief to the masses as they continue to buy these products at inflated rates set by the retailers. There are hardly any retail chicken and meat shops which display the official price list, while most retailers have termed the Commissioner rates …