Business

The Food and Agriculture Organisation’s Food Price Index (FFPI) is the most reliable indicator of movements in international commodity prices. Measured by this index, global food prices were up 33.9 per cent between July 2020 and June 2021, the length of Pakistan’s fiscal year 2019-20. This fact should not be ignored while looking at the effect of imported inflation on …

ISLAMABAD: Expressing concern over long delays, the National Electric Power Regulatory Authority (Nepra) has directed the power sector entities concerned to immediately include hydroelectric power in the definition and scope of renewable energy and submit a compliance report at the earliest. In a letter to managing director of the National Transmission & Despatch Company (NTDC), managing director of the Private …

ISLAMABAD: The Fede­ral Board of Revenue has sought cooperation of real estate associations all over the country to meet requirements of the Financial Action Task Force (FATF) in relation to non-financial businesses and professions to combat money laundering and financing of terrorism. FBR chairman Dr Muhammad Ashfaq Ahmed held a meeting with representatives of real estate associations here on Sunday, …

KARACHI: Stocks fell for the second consecutive week, with the KSE-100 index declining by 179 points to close below the psychological barrier of 47,000 at 46,957 points. The index moved between the low and high of 46,873 and 47,629 points. Investors initially worried over the geopolitical uncertainty and later in the week over the economy which was thought to be …

KARACHI: The massive rupee devaluation amid the highest-ever freight charges have substantially increased the landed cost of raw materials causing supply chain disruptions, hurting industrial production and turning finished goods more expensive. The rupee-dollar exchange rate that had attained stability at Rs152-153 in May from an all-time high of Rs168.40 in August 2020 has now again risen to Rs167 in …

KARACHI: Brokerages expect an increase in foreign investment in equities should the MSCI, a global index provider, decide to downgrade Pakistan from the emerging market (EM) index to the frontier market (FM) index in its September 7 announcement. “Foreign investment in Pakistan should rise if it’s reclassified to the frontier market,” said Shahid Ali Habib, CEO of Arif Habib Ltd …

ISLAMABAD: Exports of services increased by 6.39 per cent to $483 million in the first month of the current fiscal year (FY22) as against $454m over the corresponding period last year, Pakistan Bureau of Statistics (PBS) reported on Saturday. On a month-on-month basis, exports of services dipped by 14.51 per cent. In the outgoing fiscal year, the exports of services …

ISLAMABAD: Soon after assuming the charge of chairman of the Federal Board of Revenue, Dr Ashfaq Ahmed has decided that tax machinery will collect Re1 per invoice issued to customers of big retailers connected with electronic system of the bureau. The news of the new tax circulated on social media and triggered criticism against the FBR chairman for burdening the …

LAHORE: The Punjab Food Department will begin releasing wheat to flour mills only if the grain beco­mes costlier in the open market. A senior food official tells Dawn that the grain rates in the open market in the province are stable so far, while flour millers are also holding sufficient stock of their own. Therefore, a decision on the release of the …

ISLAMABAD: The Alternate Energy Development Board (AEDB) has simplified certification regulations for installers of solar and wind projects in the country to facilitate promotion and expansion of renewable energy sources. The board of directors of AEDB has now enacted new Alternative Energy Development Board (Certification) Regulations, 2021, effective from Aug 30, 2021, as part of “Ease of Doing Business” and …