Business

RAWALPINDI: A delegation of foreign experts is arriving in Pakistan on Monday (today) on the invitation of Adviser to the Prime Minister on Institutional Reforms and Austerity Dr Ishrat Hussain to work on a five-year corporate business plan for Pakistan International Airlines (PIA). The four-member team will stay in Pakistan for 12 days during which it will undertake a business …

MELBOURNE: The trouble for Naomi Osaka at Grand Slam tournaments comes in Week 1. Get beyond that stage at the hard-court majors, though, and start preparing to etch her name on the trophy. Osaka gave Jennifer Brady a lesson in Grand Slam tennis as she cruised to a 6-4, 6-3 win to secure her second Australian Open title on Saturday …

ISLAMABAD: Pakistan and Sri Lanka have agreed to reactivate the Joint Working Group (JWG) for redressal of technical issues pending between the two trading partners, the Ministry of Commerce (MoC) said on Saturday. The understanding was reached during the seventh session of commerce secretaries level talks between the two countries. The virtual meeting was held on Feb 18, ahead of …

KARACHI: The stock market bounced back in the outgoing week with the KSE-100 Index reclaiming 419 points or 0.92 per cent to close at 46,228. Trading was volatile throughout the week with the index finishing in green in two of the five sessions. The week started on a positive note as investors continued to be encouraged by the results of …

fbr ISLAMABAD: Prime Minister Imran Khan on Saturday commended the development of a Track and Trace (T&T) system for specific sectors to plug loopholes and enhance revenue collection in the country. The premier also appreciated the Federal Board of Revenue (FBR) for achieving its seven-month revenue targets and anti-smuggling measures. Taking to Twitter on Saturday, the premier said, “I commend …

HYDERABAD: The Sindh irrigation department and the Water and Power Develop­ment Authority (Wapda) are at loggerheads over the construction of the Rs125 billion Sindh barrage, approved by Prime Minister Imran Khan in August 2019. A couple of months back Wapda sent its inception report for a feasibility study of the project. Sindh irrigation experts responded to it and raised technical …

LAHORE: A Chinese company is investing $150 million in an industrial park on Lahore’s border with Kasur, which will house state-of-the-art fabric units, dyeing facilities and garment manufacturing units for exporting sportswear from Pakistan to the Americas, Europe, Asia-Pacific and other regions of the world. The project by the Shanghai-based Challenge is probably the first foreign direct investment (FDI) in …

KARACHI: The State Bank of Pakistan (SBP) on Friday announced that now the consumers will only have Europay MasterCard Visa (EMV) chip and PIN compliant payment cards, which will be active right from the day issued to them for payments and online e-commerce services. The State Bank said that in order to promote digital payments, measures have been taken to …

ISLAMABAD: The electricity rates for consumers of 10 distribution companies (Discos) of ex-Wapda may go up by about 93 paisas per unit on account of monthly fuel cost adjustment for January due to higher than estimated power generation cost. The National Electric Power Regulatory Authority (Nepra) will take up for public hearing on Feb 25 the Discos’ petition seeking increase …

ISLAMABAD: The Federal Board of Revenue (FBR) has notified exemption of sales tax and value-added tax on import of 500,000 tonnes of sugar, as an international tender has been floated to import at least 50,000 tonnes of the commodity by Eidul Fitr. A sales tax notification (SRO215 of 2021) was issued here to exempt the whole of 17pc sales tax …