Business

KARACHI: The price of compressed natural gas (CNG) has further gone up by Rs6.89 per litre in Punjab and Rs10.30 per kg in other provinces following an increase in sales tax by the Federal Board of Revenue (FBR), stakeholders said on Tuesday. In the first week of October, CNG price in Sindh was raised by Rs15 per kg, followed by …

ISLAMABAD: Amid heating up of political climate, the government on Monday approved Rs10 billion supplementary grants for Sustainable Development Goals Achievement Programme (SAP) for utilisation on the recommendations of ruling party parliamentarians. A formal decision to this effect was taken by the Economic Coordination Committee (ECC) of the Cabinet, which also approved about Rs182bn worth of six other supplementary grants, …

KARACHI: Makers of roti, naan, sheermal and taftan have increased prices by Rs2-Rs10 per piece in the city, thus multiplying the woes of consumers, who are already depressed by soaring rates of essential food items. “Please! Do not argue.” This is a clear message pasted at a shop for the customers near Gulberg Chowrangi, Federal B. Area. The owner of the shop …

KARACHI: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has assured land developers that the federal government will extend the exemption on wealth reconciliation statement for first-time home buyers beyond Dec 31. Speaking at the groundbreaking ceremony of Naya Nazimabad Hospital on Sunday, Mr Tarin said it’s “everyone’s right to receive a tax break” when they purchase …

ISLAMABAD: Pakistan’s oil and eatable import bill recorded a sharp increase in the first four months (July-October) of 2021-22 from a year ago owing to rising prices on the international market and massive depreciation of the rupee. The total import bill inched up by 65.4pc to $25.1 billion in 4MFY22 as against $15.17bn in the corresponding period of last year. …

KARACHI: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has said that satta or speculation has “definitely” played a role in the recent volatility in the foreign exchange market. “Speculators are taking away Rs8-9,” he said while speaking at the groundbreaking ceremony of Naya Nazimabad Hospital on Sunday. He said rupee was currently undervalued against the dollar, noting that …

ISLAMABAD: The Ministry of Energy has asked the Oil and Gas Regulatory Authority (Ogra), gas utilities and the sponsors of two upcoming LNG terminals to proceed with the execution of a gas transportation agreement (GTA), but a lower allocation of firm pipeline capacity has worried investors. In a letter issued on November 12, the energy ministry (petroleum division) has notified …

Pasni, like the other port towns in Gwadar district, used to be a tiny town inhabited by fishermen historically. While fishermen for generations problems of the residents have been compounded in the new technological era. Pasni was once attacked by the Portuguese who attempted to burn the port town, looting its inhabitants. It has been the centre of commercial activities …

SQUEEZED between the mighty Indus river and Sulaiman Range in a 32km to 60km wide strip, the Rajanpur district is located at the far southwestern end of Punjab. The town, which is also serving as the district headquarters, had been founded by Makhdoom Sheikh Rajan Shah after capturing the area from the Nahar tribe in 1732-33. The settlement largely remained …

ISLAMABAD: Inflows from overseas Pakistanis declined by 7.4 per cent in October when compared to a month earlier even though cumulative remittances reached a record $10.6 billion during the first four months (July-October) of the current financial year. “At $2.5bn in Oct21, remittances continue their strong streak, rising by 10pc from Oct20 and only moderating marginally compared to Sep21,” the …