Business

KARACHI: The 196 per cent hike in imports of completely built-up (CBU) cars to $94 million during the first half of the current fiscal year (1HFY21) has raised doubts in the auto sector if the import of new vehicles by recent market entrants is on the rise or the arrival of used vehicles is increasing. Talking to, auto sector stakeholders …

PESHAWAR: The Khyber Pakh­­tun­khwa government is planning to launch three industrial estates in Chitral, Ghazi (Swabi) and Bannu under its revised Industrial Policy 2020-30. Though initially conceived under the Khyber Pakhtunkhwa Industrial Policy 2016, these projects are now in final stages and would witness groundbreaking soon, according to officials. An official of the Khyber Pakh­tunkhwa Economic Zones Develop­ment and Management …

KARACHI: Cargo handling operations remained active at Karachi port and Port Qasim during the outgoing week. A total volume of 894,017 tonnes was handled at the Karachi port in which the share of imports and exports were 676,689 tonnes and 217,319 tonnes respectively. In the import category, the share of oil and liquid cargo and containerised cargo stood at 298,082 …

KARACHI: State Bank of Pakistan Governor Dr Reza Baqir said on Friday that so far the country has received over $480 million in Roshan Digital Accounts (RDAs) from overseas Pakistanis. Addressing as the chief guest at a launch event of HabibMetro Roshan Digital Account, he said accounts under RDA initiative were opened in 97 countries while most of the inflows …

THE increase of Rs600 in per 40kg support price of wheat by the Sindh government looks attractive to farmers on the face of it. However, this increase of almost 43 per cent will not benefit consumers in terms of flour prices as they will continue to pay Rs64 to Rs70 per kilogram of flour. Interestingly, the farmers might not be …

KARACHI: Shares continued to tumble for the sixth consecutive session on Friday with the KSE-100 index down 247.16 points, or 0.54 per cent, to close at 45,808. It rounded off the aggregate weekly losses in the index by 1,097 points. The market remained volatile swinging between the intraday high of 302 and low by 324 points. Much of the selling …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday approved an across-the-board Rs1.95 per unit (15pc) increase in tariff under uniform tariff regime though it questioned the justifications on technical and legal basis. For the first time in almost two decades, the rate for lifeline consumers — using up to 50 units per month — has therefore also increased, …

ISLAMABAD: Adviser to the Prime Minister on Commerce Abdul Razak Dawood has said that the government will not allow duty-free import of cotton from India to bridge the shortfall. Talking to media after launching the latest socioeconomic impact report by Coca-Cola Beverages Pakistan Ltd (CCI Pakistan) on Friday, he said the country was facing a shortfall of one million cotton …

ISLAMABAD: Prime Minister Imran Khan on Thursday officially approved the launch of work on the Leh Expressway and Flood Channel Project worth Rs65 billion under public-private partnership basis. The approval was granted in a meeting held with the prime minister in the chair and attended by Minister for Interior Sheikh Rashid Ahmed and senior officials. Punjab Chief Minister’s Special Assistant …

ISLAMABAD: The Pakis­tan Telecommuni­cation Com­pany Ltd (PTCL) on Thursday finally conducted tests of 5G technology here at its headquarters in a limited environment on a non-commercial basis to achieve download speeds reaching 1.685 gigabytes per second (GBPS). This technology will enable future innovation in sectors such as remote education, public safety, transportation, health, manufacturing amongst others. The new technology will …