Business

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) ended the week at 44,872 points, shedding 202 points, or 0.4 per cent, from a week ago. Trading began this week on a negative note as high global commodity prices dampened the mood of investors. Coal prices reached an all-time high of $200.50 per tonne as the Arab Light Price …

ISLAMABAD: The flow of Afghan transit trade and Pakistan’s exports to Afghanistan saw a deeper drop since the Taliban took control of Kabul in August. The flow of cargo fell by 16 per cent in August 2021 and a further decline of 73pc in September from last year, which many experts attributed to the uncertainty in the wake of the …

KARACHI: While assuring the business community of no direct action from the Federal Board of Revenue (FBR), Finance Minister Shaukat Tarin has promised he will review the tax law amendment and re-examine the terms non-filer and under-filer in consultation with the stakeholders. In a meeting with a delegation of the Karachi Chamber of Commerce and Industry (KCCI) on Saturday, Mr …

KARACHI: September was the worst month for foreign investment in equity and domestic bonds as the outflows were more than double the inflows which marred the improvement witnessed in the first two months of the first quarter of FY22. The massive share offloading by foreign investors was one of the major reasons for heavy losses the KSE 100 index suffered …

ISLAMABAD: After a delay of over three weeks, the Oil and Gas Regulatory Authority (Ogra) on Friday notified average sale price for re-gasified liquefied natural gas (RLNG) for last month (September) at about $15.35 per million British thermal unit (mmBtu), which is over 16 per cent higher than the rate of previous month (August). The RLNG price notification, which is …

ISLAMABAD: Consumer prices influenced by faster rupee depreciation and rising energy prices last month increased to their highest level in three months, the Pakistan Bureau of Statistics (PBS) data showed on Friday. Inflation measured by Consumer Price Index surged to nine per cent in September from 8.4pc in August, the period when global oil prices kept on rising steadily, undermining …

ISLAMABAD: Prime Minister Imran Khan has expressed the hope that the track and trace system (TTS) being launched in the country will help generate additional revenue. The prime minister in a tweet on Friday described the launching of TTS by the Federal Board of Revenue (FBR) as more good news. “It will boost additional revenue, digitise the economy, curb counterfeiting …

LAHORE: With the five-year international sukuk of $1 billion maturing on Oct 13, the government is yet to decide the timing for the issuance of new dollar-denominated Shariah-compliant papers or Eurobonds to raise fresh debt. The government plans to purchase a total of $3.5bn debt through international bonds during the current fiscal year. Of that amount it already lifted $1bn …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) said on Thursday the country’s electricity system was adversely affected in 2020-21 by underutilisation of the most efficient power plants run by regasified liquefied natural gas (RLNG), increase in circular debt, poor governance and fuel supply challenges, which unnecessarily burdened the consumers. In its “State of Industry Report 2020-21”, the regulator said …

KARACHI: The State Bank of Pakistan (SBP) has imposed 100 per cent cash margin on another 114 items to curb their imports which have grossly destabilised the exchange rate and widened both trade and current account deficits. The sharp rise in the current account deficit (CAD) and steep fall of the rupee against the US dollar forced the economic managers …