Business

ISLAMABAD: In a move to resolve the disagreement over the establishment of an import and export yard at Chaman Dry Port between the Ministry of Railways and the Federal Board of Revenue (FBR), the National Assembly Standing Committee on Railways on Tuesday asked all the stakeholders to mutually agree on the implementation of the project within two weeks and report …

KARACHI: Consumer confidence in the third quarter of 2020 improved by 12.1 per cent quarter-on-quarter, Pakistan Consumer Confidence Index (CCI) survey conducted by the Dun & Bradstreet and Gallup Pakistan showed on Tuesday. “Key findings indicated that consumer confidence improved in Q3CY20 on account of optimistic future expectations amidst complete lifting of lockdown and returning normalcy in trade activities,” it …

PARIS: Airline revenues this year will plunge by 60 per cent as a result of the coronavirus pandemic which threatens the survival of the industry, the International Air Transport Association said on Tuesday. “The Covid-19 crisis threatens the survival of the air transport industry,” with 2020 likely to go down in history as its worst year ever, IATA said. It …

ISLAMABAD: Reviewing price trend of essential commodities on Monday, the National Price Monitoring Committee (NPMC) urged provincial governments for proactive measures to ensure availability of kitchen items at an affordable price. The NPMC meeting chaired by Finance Adviser Dr Hafeez Shaikh reviewed the price trend of wheat flour, sugar, tomatoes, onions, vegetable ghee, potatoes and chicken on weekly basis. The …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided to formulate laws related to establishment of Digital Assets in the country and defining the status of cyber currency. The first briefing in this regard was held here Monday in the SECP head office. The meeting was led by Additional Director, Primary Market Approvals, Securities Market Division Najia Ubaid …

KARACHI: Rupee depreciated by another 32 paisas on Monday as demand for dollar spiked after importers rushed to open letter of credits (LCs) in fears of rising number of Covid-19 cases and lockdowns. Currency experts in the inter-bank market said the dollar on Monday was traded at Rs161.04 compared to Rs160.72 on Nov 20. Earlier, the dollar had lost against …

ISLAMABAD: Major stakeholders including commercial and industrial representatives on Monday opposed increase in prescribed gas prices demanded by the Karachi based Sui Southern Gas Company Ltd (SSGCL) to meet its revenue requirements for the current fiscal year. Instead the All Pakistan Textile Mills Association (Aptma) made a case for cut in the well-head gas price to reduce the cost of …

ISLAMABAD: Blaming the PML-N government for leaving behind “landmines”, Planning and Development Minister Asad Umar on Monday claimed that the decisions taken by the PTI government would have a cumulative impact of more than Rs300 billion on electricity costs over the next three years (2021-23). Speaking at a news conference, Mr Umar, who also heads the Cabinet Commit­tee on Energy …

AT the recent China International Import Expo (CIIE), a Chinese-speaking Pakistani jeweller, Aqeel Ahmed Chaudhry, was very happy because the sapphires and other jewels he exhibited attracted many Chinese businessmen. He was among many Pakistani businessmen who actively participated in this major global trade gala to explore market opportunities in China. The CIIE has successfully concluded with a cumulative intention …

ISLAMABAD: Amid demand by gas utilities for increase in their prescribed price and meter rent by up to 123 per cent and 100pc, respectively, the Oil & Gas Regulatory Authority (Ogra) has decided to have testing of gas meters by independent third party, instead of gas companies themselves. The Ogra would be taking up on Monday (today) at a public …