Business

ISLAMABAD: The Islamabad High Court (IHC) has sought an explanation from the Federal Board of Revenue’s (FBR) chairman, as well as from the federal government, for not implementing a judgement calling for initiating afresh the process of bidding for award of a contract to install track and trace system for tobacco products. A division bench, comprising Justice Mohsin Akhtar Kayani …

KARACHI: Egg prices all over the country have risen to the hightest-ever peak of Rs200-240 per dozen with surging demand due to harsh winters. Talking  consumers said the government has utterly failed in checking the egg price hike, leaving them at the mercy of poultry farmers and retailers who in turn blame costly chicken feed for sharp jump in rates. …

LAHORE: Gwadar GasPort Limited (GGPL), a joint venture formed by the Pakistan GasPort Ltd, Al-Qasim Gas and Jamshoro Joint Venture Ltd entered into an agreement with Gwadar International Terminals Ltd to move liquefied natural gas (LNG) onto special purpose trucks for regasification at various industrial sites across the country. Through an agreement signed at a ceremony, the GGPL will commence …

ISLAMABAD: Pakistan’s foreign loan inflows have jumped by almost 45 per cent to about $4.5 billion in first five months (July-November) of the current fiscal year as compared to the corresponding period in the last fiscal. With the loans taken in the five months, the country has received a total of about $23.6bn in foreign loans during tenure of the …

ISLAMABAD: The government is working on promoting manufacturing of electric vehicles in the country, said Minister for Science and Technology Fawad Husain at the 23rd Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI) here on Thursday. He said the government has three top priorities — agriculture, electronics, and manufacturing of electric vehicles. He added that the electric …

RAWALPINDI: The Civil Aviation Authority (CAA) has granted permission to private airline Serene Air to operate flights to Saudi Arabia and the United Arab Emirates (UAE). The permission was granted by the Aviation Division to Serene Air after approval by the federal cabinet. The private airline will start its flights for Jeddah, Riyadh, Dubai and Sharjah in January 2021. The …

ISLAMABAD: The new private sector companies seeking entry into liquefied natural gas (LNG) business without government guarantees appeared to be moving in circles as the public sector stakeholders blamed each other for uncertainties relating to enabling environment and infrastructure. This was the overriding sense of a public hearing conducted by the Oil & Gas Regulatory Authority (Ogra) on the request …

sb- ISLAMABAD: The World Bank signed an agreement with Pakistan on Wednesday for a loan of $304 million for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE) at the Economic Affairs Division. The programme aims to help the Punjab government to increase its revenue and to improve reliability of resource allocation and access to digital services for people and …

KARACHI: Stocks bou­nced back on Wed­nesday with the KSE-100 index settling down with net gains of 109.35 points (0.25 per cent) at 43,360.19. The index started out on a positive note and made to intra-day high by 305 points on the back of share price spike in the exploration & production sector. However, in the midst of low investor participation …

ISLAMABAD: The government on Wednesday decided to impose up to Rs200,000 tax on sale of locally manufactured vehicles within 90 days of delivery from manufacturer to discourage ‘on-money’ and removed sales tax on locally manufactured phones worth over $200 and 4pc withholding tax on local mobile manufacturers. The decisions were taken at meeting of the Economic Coordination Committee (ECC) of …