Business

ISLAMABAD: The prices of all petroleum products may go significantly up on Wednesday (today) owing to higher international prices and some adjustments in tax rates. Three different options are under consideration of the government. Under one option, based precisely on existing tax rates and oil import price, the ex-depot price of high speed diesel (HSD) is estimated to go up …

ISLAMABAD: The Islamabad Electric Supply Company (Iesco) has decided to keep the electricity of Bahria Town suspended for six hours daily as the housing society has failed to clear Rs608 million dues in respect of electricity bills. On the other hand, prolonged and unannounced loadshedding in Rawalpindi has made the life of the residents miserable amid the scorching heat. With …

MUZAFFARABAD: Azad Jammu and Kashmir (AJK) Legislative Assembly on Tuesday approved the state’s Rs141.4 billion surplus budget for fiscal year 2021-22 within hours of its presentation by Finance Minister Dr Najeeb Naqi while suspending rules governing the issue. The fifth and last budget of the PML-N government estimated an income of Rs114.4 billion from different internal and external resources during …

KARACHI: The stock market was rattled on Monday with the KSE-100 index tumbling by 601 points, or 1.26 per cent. The index could just manage to cling to the 47,000 level by fewer than four points and closed at 47,002. Several negative developments in the outgoing week sparked concerns among investors, most of whom thought it prudent to dump the …

KARACHI: The value of mobile banking, internet banking and e-commerce transactions have more than doubled during the third quarter current fiscal year (Q3FY21) compared to the same period in FY20, the State Bank said in its latest report issued on Monday. According to the Payment System Quarterly report, the number of internet and mobile banking users has increased significantly, up …

KARACHI/LAHORE: The gas crisis has deepened across the country as two state-owned companies on Monday announced complete closure of gas supply till July 5 to industries and CNG stations following a decline in gas availability, low pressure in the system and dry docking of LNG terminal. CNG stations in Sindh were to open from June 28 after the closure on …

The World Bank’s (WB) board of executive directors on Tuesday approved $800 million for financing two programmes in Pakistan. According to a press release, the programmes include the Pakistan Programme for Affordable and Clean Energy (PACE) and the Second Securing Human Investments to Foster Transformation (SHIFT II). WB Country Director for Pakistan Najy Benhassine said that the reforms underpinning the two …

MANSEHRA: Prime Minister Imran Khan has said tourism offers excellent potential for boosting the country’s revenue and employment opportunities and it is his vision to keep Pakistan clean and green to attract tourists from across the world to this heavenly land. “Switzerland is half the size of our northern areas and has no match with the natural beauty of our …

ISLAMABAD: The government has called a meeting of the Economic Coordination Committee (ECC) on Monday (today) to consider allowing an intervention price of about Rs5,000 per 40kg for cotton, which has arguably been necessitated by a sharp decline in production, besides clearing a dozen supplementary grants so close to the passage of federal budget by parliament. To be presided over …

YOUNG Musaf Hanif, a software developer working with a start-up that provides ecommerce solutions and digital consultancy in Karachi, is very busy these days. Following the last month’s announcement that ecommerce giant Amazon has added Pakistan to its sellers’ list, several people have been approaching him and his firm with a similar question i.e. how fast they could launch a business …