Business

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 …

KARACHI: Locally assembled Volkswagen, Skoda Crossovers and SUVs are expected to hit the road by the mid of next 2023, a business group announced on Thursday. The announcement was made in a statement of Premier Motors Limited (PML), a licence assembly partner of the German auto giant, Volkswagen Group – which recently has appointed its financial adviser for achieving the …

KARACHI: With its benchmark index losing 12 per cent value in dollar terms, the Pakistan Stock Exchange (PSX) remained the third worst-performing equities market internationally in the July-Sept quarter. According to a research note issued by Topline Secu­rities on Thursday, the quarterly decline follows five consecutive quarters of gains. The KSE-100 index had surged on average 12pc every quarter since …

ISLAMABAD: The Federal Board of Revenue collected Rs1.395 trillion in the first quarter of the current financial year exceeding the target of Rs1.211tr by Rs186 billion, showed provisional data released by the FBR on Thursday. Comparing with the revenue collection of Rs1.01 trillion in 2020, the revenue collection posted 38pc growth in the first quarter this year. The revenue collection …

KARACHI: Engro Corporation, Pakis­tan’s premier conglomerate, has announced partnership with the Pakistan Pavilion at Dubai Expo 2020 to unearth hidden opportunities in investment and tourism presented by the country. Developed on the theme of “The Hidden Treasure”, this is the largest-ever pavilion of Pakistan set up outside the country. The pavilion will showcase the country’s vast potential in tourism, business, …