Business

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, …

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 …