Business

ISLAMABAD: Talks between the Federal Board of Revenue (FBR) and traders’ representatives remained inconclusive on Wednesday night on the implementation of a presidential ordinance giving wide-ranging powers to tax officials to disconnect utility connections of non-filers. While ending its protest that continued in front of the FBR headquarters, the All Pakistan Anjuman-i-Tajiran (APAT) announced that they would hold a sit-in …

ISLAMABAD: Prime Minister Imran Khan on Wednesday said bringing innovation in agricultural sector and ensuring prosperity of the farmers was among the top priorities of the government. Chairing a meeting on the development of agricultural sector, the premier said for the first time a comprehensive strategy had been formulated for the betterment of agricultural sector. Mr Khan said the Agricultural …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday firmed up about 97 paisa per unit additional monthly fuel cost to be recovered from consumers of K-Electric next month. However, it put on hold the final judgment for a couple of days to cross-examine some additional information they sought from the K-Electric. The additional fuel cost adjustment (FCA) is …

ISLAMABAD: Baffled by the rising food inflation, Finance Minister Shaukat Tarin on Wednesday asked the Ministry of Commerce to expedite the process of slapping a ban on the export of perishable commodities to control prices in domestic market. The rising food prices have compelled the incumbent government to take some remedial policy measures to ban exports of perishable products for …

ISLAMABAD: The Economic Adviser’s Wing of the Finance Ministry has warned that higher international commodity prices, particularly those of food and energy, could increase inflation and has called for structural policies to improve functioning of markets to ease inflationary pressures. “The risks that could raise inflation include higher trend in global commodity prices, especially food and energy items,” said the …

LAHORE: The Water and Power Development Authority (Wapda) has postponed its plan of floating another green Eurobond to raise $500 million by March next year keeping in view various internal and external factors causing increase in interest rates. The authority now plans to launch the bond in next fiscal year (2022-23) subject to suitability of the situation, Dawn has learnt. “The local …

KARACHI: Before announcement of the expected hike in interest rate by the State Bank of Pakistan (SBP), the private sector geared up its borrowing from banks and changed the entire landscape within a couple of weeks by borrowing Rs172 billion during the period. Bankers said it seemed that the private sector had been chasing the annual economic growth target faster …

Stocks fell nearly 3 per cent on Wednesday while the rupee dropped to a record low, as investors feared a US Senate bill that is seeking to impose sanctions on the Afghan Taliban could be extended to Pakistan. After only a day of breather, sellers were back in action, which was also triggered by anxiety regarding the rupee as the KSE-100 shed 908 points on Wednesday …

The US Dollar continued its surge against the rupee on Wednesday, rising to a historic high of Rs170 in the interbank market. The dollar was up 31 paisa in the interbank market and trading at around Rs170.27. In the open market, it was up by 50 paisa and trading at around Rs172.30. The rupee, which has been termed the worst-performing currency …

LAHORE: The maiden meeting of the Steering Committee on National Water Policy constituted back in 2018 will be held in Islamabad on Tuesday (today). It will be chaired by Federal Minister for Water Resources Moonis Elahi. The meeting was to be held on Friday (Sept 24), but had to be rescheduled due to unavailability of some members. To be attended …