Business

ISLAMABAD: Amid anticipated gas shortages during peak winter months (December-January), the Cabinet Committee on Energy (CCoE) on Thursday asked the Sui Northern Gas Pipelines Ltd (SNGPL) to continue supplying cheaper re-gasified liquefied natural gas (RLNG) to two Punjab-based fertiliser plants — Fatima and Agritech — for another 15 days to avoid fertiliser shortage. The CCoE meeting was presided over by …

ISLAMABAD: Pakistan has launched consultation with stakeholders to initiate formal negotiations with Afghanistan for reduction of duty and taxes under the proposed Preferential Trade Agreement (PTA). The proposed PTA is estimated to enhance volume of bilateral trade to nearly $5 billion in the next five years from the current less than $2bn. The negotiations are scheduled to be completed by …

ISLAMABAD: Despite facing gas shortfalls, the Sui Northern Gas Pipelines Ltd (SNGPL) on Thursday demanded 123 per cent increase in its gas rate, 100pc increase in meter rent and 700,000 fresh domestic connections, which was strongly opposed by the stakeholders including textile industry and transport sector. At a public hearing presided over by Oil & Gas Regulatory Authority (Ogra) Acting …

KARACHI: Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC) has asked the government to exempt the fertiliser industry from the income and sales tax laws introduced through Finance Act 2020 as the farmers would face the burden of this clause. These laws disallowed adjustment of up to 10 per cent cost for income tax and input sales tax for the sales …

ISLAMABAD: The cabinet committee on Wednesday reviewed available stocks of personal protective equipment amid rising cases of coronavirus across the country. The committee in its sixth meeting chaired by Adviser on Commerce Razak Dawood monitored stock position and national needs of PPEs. It was attended among others by Federal Minister for Production Hammad Azhar and Minister for Science Fawad Chaudhry. …

• Asks nation to join hands with government to defeat second wave of coronavirus • Says opposition won’t get NRO even with its many public meetings • Claims Pakistan’s exports increasing at faster pace leaving India and Bangladesh far behind LAHORE: Prime Minister Imran Khan says the government has decided not to shut down factories and businesses despite a spike …

ISLAMABAD: Adviser to the PM on Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday informed the World Economic Forum (WEF) that Pakistan had witnessed remarkable improvement in fiscal and current account deficits owing to prudent government policies. Addressing the second segment of the plenary session of the WEF on Country Strategy Dialogue (CSD) through video link, he said that …

ISLAMABAD: Despite growing confidence that an end to health pandemic is in sight, a report released by the United Nations Conference on Trade and Development (UNCTAD) has warned that a viable Covid-19 vaccine will not contain the economic damage. The report said that the after-effects of the economic damage caused by the pandemic will be felt for a long time …

KARACHI: The market limped back on the path of recovery on Tuesday, nursing the wounds of the massive fall a day ago. The KSE-100 index recouped 231 points (0.58 per cent) and closed at 39,863, after hitting the intra-day high of 389 points. Traders and analysts fumbled for reasons of market’s return to the green despite no respite the in …

KARACHI: Retail prices of onions continue to remain high despite drop in wholesale prices to Rs1,200-1,300 per maund from Rs2,800 per maund. Retailers were charging Rs60-80 per kg for new Sindh crop depending on the size and quality despite a self-imposed ban by exporters from Nov 3 for a period of 15 days to control rising prices and contain shipment …